Petrobras in worker talks on strike

A Brazilian flag is seen on the facade of the BM&FBOVESPA Stock Market during a ceremony marking the first day of trading at the BM&FBOVESPA Stock Market in Sao Paulo, Brazil, Friday, Sept. 24, 2010. Petroleo Brasileiro SA, or Petrobras, the South American nation's state-run energy company, raised $70 billion Thursday through the sale of more than 4 billion common and preferred shares in Brazil and the U.S., Investors saw an opportunity to invest in one of the world's fastest-growing regions for energy production. (AP Photo/Andre Penner)

Union talks: Petrobras working to avoid strike over profit-sharing

Andre Penner

By News wires

 13 July 2012 18:30 GMT

Brazil's state-led oil company Petrobras is in talks with oil workers to avert a potential strike being considered by their unions from 20 July, chief executive Maria das Gracas Foster said on Friday.

Petrobras has in past years been successful at heading off major disruptions in production and supply through negotiations with the unions that represent the sector, Reuters reported.

The Federal Oil Workers Union known as FUP said on Thursday it has begun organizing meetings across Brazil to vote on the possible start of a nationwide strike on 20 July, after Petrobras failed to come up with a new profit-sharing plan for workers.

FUP leaders met with Foster on Wednesday over the profit-sharing adjustment for 2011 earnings, according to the union's website.

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