ECONOMY | 05-11-2021 14:09

Argentina’s oil workers getting 15% wage increase in December

Workers in the oil industry in Argentina will receive wage increases next month, according to a government statement.

View of an Argentine oil company YPFs pumpjack to extract oil from a well at Loma La Lata, near Vaca Muerta Shale oil reservoir, in the Patagonian province of Neuquen on December 4, 2014. | AFP/Juan Mabromata

Workers in the oil industry in Argentina will receive wage increases next month, according to a government statement released after an agreement between industry groups and unions in the sector.

Oil workers will receive an advance payment on their 2022 wage increase, which will mean a 15 percent increase in their December 2021 wages.

In May, both parties agreed to a 35 percent increase in the November 2021 salary, to be paid in three installments.

by Alvaro Ledgard, Bloomberg