A total halt of output off Norway that would have taken effect from midnight on Monday was averted after Labour Minister Hanne Bjurstrom intervened at the eleventh hour to impose compulsory arbitration to achieve a pay settlement in the ongoing dispute over pension rights.

It followed a lockout notice issued by OLF last week that would have resulted in 6500 workers being barred from platforms, leading to a shutdown that would have cut off output of more than 2 million barrels per day of oil, natural gas liquids and condensate, as well as hit gas exports.

Bjurstrom