Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Exxon, union swap proposals to end lockout at Texas refinery

Published 01/27/2022, 01:12 PM
Updated 01/27/2022, 01:15 PM
© Reuters. FILE PHOTO: United Steelworkers (USW) union members picket outside Exxon Mobil's oil refinery amid a contract dispute in Beaumont, Texas, U.S., May 1, 2021. Exxon locked out the plant's about 650 union-represented employees citing fears of a strike. REUTE

By Erwin Seba

HOUSTON (Reuters) - Exxon Mobil Corp (NYSE:XOM) and the United Steelworkers union (USW) have swapped proposals as they work toward possibly ending a nearly 10-month lockout by the company of Beaumont, Texas, refinery workers, Exxon said on Thursday.

The company did not offer details about either offer made at a meeting on Wednesday. It did say it rejected the proposal from USW local 13-243 in Beaumont during the meeting, which was the 55th between the two sides "and provided a new counter offer which included two, union-requested changes."

A spokesperson for the USW was not immediately available on Thursday to comment.

Both sides are waiting for the U.S. National Labor Relations Board (NLRB) to decide on charges filed by the USW that Exxon is using the lockout, which began on May 1, to force the removal of the union from the 369,024 barrel-per-day refinery and an adjoining lubricating oil plant.

On Dec. 29, the NLRB impounded ballots cast between November and December by over 600 USW members in a vote on the union's removal.

Exxon has said the lockout will end when either a contract that meets its goals is accepted or the union is removed. The company has said its contract proposals would enable it to be competitive in even low-margin environments.

USW 13-243 members rejected Exxon's offer in October because it would remove a long-standing, key provision that allows workers a say over job assignments and would split the refinery workers from lubrication plant employees.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

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.