Gabon oil strike averted as negotiations begin

LIBREVILLE, March 13 (BestGrowthStock) – Gabon’s main oil industry
trade union has agreed to suspend strike plans and open
negotiations with the government over labour regulations
governing the sector, the government said late on Friday.

The ONEP union this week set a deadline of Friday midnight
for resolving a dispute on whether the energy sector should be
required to provide uninterrupted minimal service, a proviso it
argued would undermine its leverage in collective bargaining.

The strike would have threatened to shut off some 250,000
barrels of crude per day from the country, Africa’s seventh
largest producer and home to the operations of several foreign
oil companies including France’s Total (TOTF.PA: ).

“The two sides have agreed to open negotiations … (which)
should reach agreement on a regulatory text setting out the
implementation of minimum service in the oil sector,” a
government statement read out on national television said.

“The government and the ONEP affirm their intention to reach
an agreement rapidly,” it added.

For a FACTBOX on foreign oil investments in Gabon, click
here: [ID:nGEE5AP2AL]

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(Reporting by Linel Kwatsi; writing by Mark John)

Gabon oil strike averted as negotiations begin