BP proposes six-year labor contract at Whiting refinery

By Reuters News

- BP BP.L said on Tuesday it is proposing a six-year labor contract for workers at its 440,000-barrel-per-day Whiting refinery in Indiana as negotiations with United Steelworkers (USW) Local 7-1 continue.

  • The company said the six-year term would provide stability for the refinery and employees.

  • "6-year term would give you certainty in your pay, your benefits, and your working conditions for years," BP said.

  • The final two years of the proposed agreement would match future National Oil Bargaining Program (NOBP) pattern wage-rate increases.

  • BP is also proposing a longer notice period before the union can strike or the company can initiate a lockout.

  • The company said it would continue talks with USW 7-1 representatives.

  • BP locked out its workers at the Whiting refinery in March in a dispute with the union over its next contract.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.