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Oil Union in Brazil Gains Deal with Petrobras

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16 July, 2005

Brazilian affiliate FUB-CNQ will conclude voting on a new collective agreement with state-run Petrobras tomorrow, thus preventing unions from striking operations of the oil and gas major by 40,000 workers. Workers stand ready to approve a 12.1% pay hike plus additional benefits for retired workers. Petrobras will also create a special body to study workers’ retirement plans.