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International News

Norway oil shutdown likely after pension talks fail

A costly shutdown in oil output in Norway, Western Europe’s top producer, looks set to go ahead after talks between striking workers and employers failed.  After thirteen hours of mediation with the ombudsman, he did not find a basis to present a written proposal he thought the parties could accept.  The strike is now on day 15, and the costs are 2.9 billion kroner (385.7 million euros, $474 billion).  Norwegian Employment Minister Hanne Bjurstroem has already called for a second round of negotiations to take place.  Read MORE.