Exxon Mobil (XOM)

A strike squeezing French oil refineries spread Tuesday to facilities owned by ExxonMobil, raising the pressure on Total SA and the government to ward off gas shortages.
Workers at an ExxonMobil-owned Esso depot joined in the walkout Tuesday to support their Total colleagues, who have been striking since last week over plans to close a plant in northern France. The Esso depot in Port Jerome, on the English Channel, was closed before dawn for lack of workers, CGT union organizer Laurent Delaunay said. Workers at an Esso refinery in neighboring Notre-Dame-de-Gravenchon, France's second-largest refinery, were set to walk out later Tuesday. Together, Total and Esso refineries account for about 70 percent of France's refining capacity. A prolonged strike and serious gas shortages could be bruising for French President Nicolas Sarkozy's government as it faces regional elections in less than three weeks. The refinery blockages come amid other acts of unrest among French workers, including an air traffic controllers' strike canceling hundreds of flights Tuesday.

Feb 24 · 12:31:00 AM · Source: Forbes
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by Michael Oliveto