Photo by: Bloomberg
Major oil producers represented by the National Petroleum Employers' Association (NPEA) have signed a two-year wage deal with trade unions, the Chemical, Energy, Paper, Printing, Wood and Allied Workers Union, Solidarity and the South African Chemical Workers' Union, which will see employees receiving an 8.5% wage increase from July 1, 2014.
The wage increase for year two, effective July 1, 2015, would be the April 2015 consumer price index (CPI) plus an improvement factor of 1.5%.
The signing of the agreement on Thursday concluded a process of three rounds of wage negotiations under the auspices of the National Bargaining Council for the Chemical Industry, which started on May 14.
“This wage deal is built on the strong relations that exist between the employers and employees in the petroleum sector. Negotiations were conducted in a spirit of cooperation and no incidents took place during the period of the negotiations,” the NPEA said in a statement.