Brazil oil strike enters second week: UpdateOREANDA-NEWS. November 11, 2015. Brazil's state-controlled Petrobras and labor unions failed to reach an agreement today that would bring an end to an indefinite strike that started on 1 November.

The strike, the longest since a 32-day work action in 1995, has cost Petrobras around 1mn bl of accumulated crude production and dented the company's downstream operations.

Petrobras said this evening that it is now losing about 115,000 b/d of production as a result of the strike. "Petrobras is making all efforts to pursue the settlement of the 2015 collective bargaining agreement," the company said.

The FUP, a federation of oil workers unions, maintains a higher estimate of lost production. it says 49 offshore platforms participating in the strike have cut around 400,000 b/d from Petrobras? domestic output, or around 20pc of the company's pre-strike output.

Brazilian oil regulator ANP says there is currently no fuel shortage risk, but it will take necessary measures should the situation arise.

The unions oppose the oil company?s \\$58bn asset sales and restructuring plan.

Petrobras has said the plan is necessary to tackle its \\$130bn debt and restore value to its shareholders.

FUP organizer Jos? Maria Rangel said the federation presented proposed changes to the restructuring plan. A fresh round of labor talks could take place tomorrow.

Petrobras was not immediately available to comment on today?s negotiations.

The oil workers strike and a parallel truckers strike that started in various states throughout Brazil earlier today are putting more pressure on a government austerity plan adopted by embattled president Dilma Rousseff.