💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Valero proposal stymies Port Arthur refinery talks - Reuters

Published 01/30/2019, 12:17 PM
© Reuters.  Valero proposal stymies Port Arthur refinery talks - Reuters
SHEL
-
VLO
-
  • A company proposal to change who would assign daily work has slowed negotiations for a new contract at Valero Energy 's (VLO +1.7%) Port Arthur, Tex., refinery, Reuters reports.
  • VLO has proposed that the new contract allow salaried supervisors to assign daily jobs, taking authority away from head operators, but the proposed change could undermine union seniority and operational safety as the assignments may not go to those best qualified to do the inside and outside operator jobs, according to the report.
  • The negotiations underway between VLO and the United Steelworkers local are intended to produce a local deal that will be paired with the national agreement being hammered out by the USW and Shell (LON:RDSa) Oil, which is representing U.S. refinery and oil companies.
  • Now read: OPEC's Last Stand, But Refining Is A Seasonal Business


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.