Norway Strike puts Squeeze on UK Natural Gas and Oil (XOM)
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UK natural gas prices could rise by 10 pence per thermal unit if a planned lockout of Norwegian field workers goes forward, according to analysts at Barclays. They are estimating a 1-week halt to flows to the UK.
Talks between the Norwegian Oil Industry Association, Exxon Mobil Corp. (NYSE: XOM), and unions broke down yesterday. Crude oil prices in Europe are also being affected. Norway produced 2.04 million barrels a day of oil in 2011, about 2.4 percent of total world output, according to BP Statistical Review of World Energy.
Shares of Exxon Mobil Corporation (NYSE: XOM) are lower by 1.62 percent intraday on Monday.
Talks between the Norwegian Oil Industry Association, Exxon Mobil Corp. (NYSE: XOM), and unions broke down yesterday. Crude oil prices in Europe are also being affected. Norway produced 2.04 million barrels a day of oil in 2011, about 2.4 percent of total world output, according to BP Statistical Review of World Energy.
Shares of Exxon Mobil Corporation (NYSE: XOM) are lower by 1.62 percent intraday on Monday.
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