🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Marathon, Teamsters negotiations remain at standstill as strike enters third week

Published 25/09/2024, 08:11 am
© Reuters. FILE PHOTO: Workers on strike at Marathon Petroleum’s (MPC.N) Detroit refinery walk the picket line in Detroit, Michigan U.S., September 9, 2024. REUTERS/Rebecca Cook/File Photo
MPC
-

By Nicole Jao

NEW YORK (Reuters) - Marathon Petroleum (NYSE:MPC) and the Teamsters union, which represents refinery workers in Detroit, Michigan, are at a standstill as negotiations for a new labor agreement stagnate and the strike at the plant enters its third week.

More than 200 Teamsters at Marathon's Detroit refinery called for an economic strike on Sept. 4 after nine months of pay- and safety-related negotiations and mediation with Marathon failed to reach agreement. The prior contract expired in January.

"Unfortunately, the parties have not reached an agreement," a Marathon spokesperson said.

Marathon representatives and the union had several negotiating sessions under a federal mediator, including this past Friday and Sunday.

"We continue to be in regular communication with the federal mediator; however, at this time, no additional negotiation meetings are scheduled."

Teamsters Local 283 represents 273 workers at the Detroit refinery, 95% of whom authorized the strike.

President of Teamsters Local 283 Steve Hicks said Marathon representatives walked away from the bargaining table at the latest round of contract talks this past weekend and canceled the negotiating session that was due this Friday.

© Reuters. FILE PHOTO: Workers on strike at Marathon Petroleum’s (MPC.N) Detroit refinery walk the picket line in Detroit, Michigan U.S., September 9, 2024. REUTERS/Rebecca Cook/File Photo

The Detroit refinery started planned turnaround activities earlier this month.

The 140,000 barrel-per-day (bpd) Detroit refinery is one of Marathon's 13 refineries with approximately 2.9 million bpd of crude oil refining capacity.

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.