World’s Largest Oil and Gas Union Set to Strike

On Friday, Brazil oil workers rejected the latest Petrobras wage and benefit offer and are set to strike. In November 2015 Petrobras workers were on strike for 20 days, the longest oil worker’s strike in Brazil in 20 years. The Petrobras’ workers union renegotiates each year and tries to increase pay to match the nation’s inflation rate which was 8.98% in August. Brazil is in a recession and Petrobras has the largest debt of any company in the oil industry. Petrobras only offered a 4.97% salary increase; and in addition plans to cut overtime, reduce shifts and sell assets, all of which are opposed by the Union.