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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Tommaso who wrote (61428)3/3/2000 7:20:00 PM
From: Ronald J. Clark  Read Replies (1) of 95453
 
Typical Ven strike:

Venezuela Oil Workers Call Off Strike After Decree


Caracas, March 3 (Bloomberg) -- Venezuela's largest oil worker union called off its strike just 11 hours after it began, saying a decree postponing contract negotiations put striking workers in jeopardy of losing their jobs.

The decree passed by the constitutional assembly in January suspended talks with public worker unions for eight months until the unions hold elections for new leaders. The decree became law today after it was published in the official government gazette.

Fedepetrol, the nation's largest oil union, said the government published the decree to scuttle the strike.

``The decree was published today as a result of the workers' action,' Fedepetrol President Carlos Ortega said.

A long strike could have crippled crude output and possibly halted oil shipments to the U.S., the world's largest oil consumer. Venezuelan oil accounts for about 16 percent of crude imports to the U.S., where oil prices are at a nine-year high.

PDVSA said all of its operations functioned normally today and that only about 10 percent of its workers joined the strike.

Ortega stuck by his earlier estimate that about 90 percent of oil workers participated in the strike. He added that Fedepetrol would hold elections ``when it is convenient for us.'

The constitutional assembly assumed legislative powers while drafting a new constitution, which was approved by voters in December.

Mar/03/2000 17:59
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