French union calls for fresh strikes at refineries in March

Quantum Commodity Intelligence - Oil workers' union CGT called for rolling strikes at France's refineries next month and warned again on fuel shortages, as the battle against proposed pension reforms continue.

The latest call for action on 6-7 March  is set to coincide with strikes in several industries as unions double down efforts to block the French government's attempt to lower the retirement age.   

"The CGT calls for everything to be done to prepare for a stronger March 7 and to shut down France in all professional sectors," the union said in a statement Friday.

"This call concerns refineries, the petrochemical industry, the pharmaceutical industries, rubber, plastics," French media quoted Eric Sellini, CGT coordinator for TotalEnergies, speaking Friday.

The union warned again on the prospect of fuel shortages "of the same magnitude as last October," when France's oil industry was crippled during a months-long dispute over pay.

Strikes have taken place at several of France's refineries and fuel depots in January and February this year over the pension reform, but failed to result in fuel shortages or significant disruption amid ample stocks and regional supply.

Despite the start of sanctions on Russian product exports this month, fuel margins have softened lately in Europe, especially on distillates.

ARA gasoil stocks are currently near a two-year high as suppliers restocked heavily on imports ahead of sanctions.