United Steelworkers union rejects Marathon Petroleum wage offer as national contract expires

Negotiators for the United Steelworkers union and Marathon Petroleum Corporation MPCcontinued to meet on Saturday to discuss a new national pattern agreement for the oil industry. Late on Saturday the union rejected an offer from Marathon Petroleum Corporationthat would have provided a 13 percent increase in wages over a four-year contract. This development occurred just hours before the current four-year contract was set to expire at 12:01 a.m. on Sunday in the US US.

Marathon Petroleum Corporationserves as the lead negotiator for a group of 26 U.S. refiners and chemical companies. This group includes major industry players such as Exxon Mobil Corporation XOM, Chevron Corporation CVX, and Valero Energy Corporation VLO. The rejected proposal included pay increases of 3 percent in each of the first two years followed by 3.5 percent in each of the final two years of the agreement.