Portugal's Problem

By: Matt Reese / April 17, 2019

Portugal has declared a nationwide energy crisis this week after all of their fuel truck drivers have gone on strike, threatening to cripple the infrastructure of the nation.  The organization representing the interest of 700 of the 1,000 working in the sector, The National Union of Dangerous Goods Drivers, is demanding higher wages and recognition of its members’ special status. 

As the strike enters its third day, motorists across the country are queued up outside gas stations to fill up their tanks, critical levels of fuel reserves are being used at airports and emergency services, public transport companies and ports have been affected.  The Portuguese government and The National Union of Dangerous Goods Drivers reached an agreement prior to the strike on Monday to guarantee the operation of a number of minimum services, which included maintaining service needed to keep the country’s two main oil refineries in operation and have minimal supplies of at least forty percent of normal levels at gas stations across its major cities of Lisbon and Porto.   The government has said that this minimal service has not been provided and fuel supplies are running out.  Portugal’s government has intervened and with the coordination of oil companies alongside their security forces have forced dozens of tanker trucks to be taken to Lisbon to supply the capital with fuel.

portugal picture

The National Union of Dangerous Goods Drivers has said that the strike would continue until its demands are met.  Antonio Medeiros, the union treasurer said, “If we stop for two or three days, we throw Portugal into chaos, we are perfectly aware of that.”  As of Tuesday, the Socialist government and the union have held talks to mediate the situation, but have failed to find a solution. 

 

https://www.reuters.com/article/us-portugal-strike-fuel/portugals-fuel-supply-running-out-as-truck-drivers-strike-idUSKCN1RS1TT

https://www.reuters.com/article/us-portugal-strike-fuel/portugals-truck-drivers-to-meet-essential-supplies-as-fuel-dries-up-idUSKCN1RT0QQ

https://www.telesurenglish.net/news/Portugal-Energy-Crisis-as-Nation-Wide-Strike-Affect-Supply-20190416-0029.html

https://www.politico.eu/article/portugal-declares-energy-crisis-as-truckers-strike-cuts-fuel-supplies/


Categories: trucking industry, Portugal


Matt Reese

Written by

Matt Reese

With a combined 10 years of customer service and sales experience, I am a detailed and efficient person who provides integrity and exemplary customer service to every business relationship. Consulting, cultivating and caring are qualities that my customers appreciate most.


Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.


Comments

Subscribe to our blog

Price Feed

Stay up-to-date on current fuel prices and market trends with our NYMEX price feed (15 minute delay to the live market).

© 2018 Market data provided and hosted by Barchart Market Data Solutions. Fundamental company data provided by Morningstar and Zacks Investment Research. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.

Categories

Contact Us