OFFSHORE ENERGY PROFITS SOAR

RMT slammed the news last month that Norwegian oil and gas company Equinor raked in profits of over £60 billion.

RMT general secretary Mick Lynch said that Equinor had made exorbitant profits off the back of offshore contractors, many of them from Britain, who had suffered stagnating wages, insecure work and are forced to make their own pension arrangements.

“The grotesque profits at

Equinor need a serious response, including conditions of licence, a guarantee of trade union rights and recognition that exists in the Norwegian sector of the North Sea.

“Offshore workers are growing increasingly angry about the amount of profit and dividends being ripped out of the industry at their expense,” he said.

RMT members at Balfour Beatty Central Rail Systems Alliance (CRSA) have been taking industrial action this month after the company has continued to refuse to offer an acceptable pay award as part of the 2022 pay negotiations.

RMT representatives have for several months now been pressing the company to negotiate regarding a sensible agreement regarding the outstanding pay claim at a time when Balfour Beatty continues its financial success story.

The company’s latest accounts show that during this period the company’s revenue was £8.26 billion with profits of £139 million, an increase of £109 million on the previous year or 363 per cent and £29 million was paid out to shareholders.

The highest paid Director received total pay and benefits of nearly £3 million an increase of nearly £700,000 on the previous year or 31 per cent.

RMT is determined to achieve a just and fair award for its members and it is obvious that from the above that it is easily affordable for the company. Unfortunately, the company has chosen to ignore these facts and RMT has no other option to proceed with a ballot to protect your interests.

RMT remains available for negotiations at any stage to resolve this dispute, but it demands fair pay for CRSA members.