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Talks between oil companies, U.S. union intensify as deadline nears

01/24/2022 | 10:50pm EDT
FILE PHOTO: General view of the Marathon petroleum refinery in Carson, California

HOUSTON (Reuters) - Talks for a new national contract for U.S. refinery and chemical plant workers intensified on Monday between the United Steelworkers Union (USW) and oil companies, the union told members in a message seen by Reuters.

Talks for the new pact began on Jan. 13 between the USW and lead company negotiator Marathon Petroleum, the union has said, ahead of the Feb. 1 expiry of an existing three-year agreement covering 30,000 workers across the United States.

In addition to the contract talks, which will set pay and benefits, USW locals are meeting refinery and plant managers to agree on local issues.

Monday's message said BP Plc, chemical maker Ineos, Chevron Corp and Citgo Petroleum Corp were making "tough, concessionary demands" in local negotiations.

Last week, the Steelworkers said BP had made a proposal in talks at local unions for a no-strike period of up to 120 days following expiry of contracts..

A Chevron spokesperson did not have an immediate comment on Monday night, while spokespersons for BP, Ineos and Citgo did not immediately reply to requests for comment.

Sources familiar with local talks at Chevron's refinery in Pasadena, Texas, said the company had asked for significant changes.

(Reporting by Erwin Seba; Editing by Clarence Fernandez)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 1.07% 417.1 Delayed Quote.26.23%
CHEVRON CORPORATION 0.58% 167.82 Delayed Quote.43.01%
LONDON BRENT OIL 0.60% 113.24 Delayed Quote.42.93%
MARATHON PETROLEUM CORPORATION 0.84% 96.56 Delayed Quote.50.90%
WTI 0.56% 110.783 Delayed Quote.44.84%
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Financials (USD)
Sales 2022 195 B - -
Net income 2022 -169 M - -
Net Debt 2022 27 806 M - -
P/E ratio 2022 55,0x
Yield 2022 4,28%
Capitalization 100 B 100 B -
EV / Sales 2022 0,66x
EV / Sales 2023 0,65x
Nbr of Employees 65 900
Free-Float 94,2%
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