Coronavirus, Consolidation Taking Toll On Energy Jobs
. Democratic challenger Joe Biden wants to limit fracking on federal lands, while incumbent President Donald Trump has pushed for more drilling, and argues Biden's position would destroy jobs.Consolidation is helping drive job cuts. Chevron plans to eliminate roughly 25% of the staff acquired with Noble Energy, which it acquired this month. Shell said its oil output likely peaked last year, and it plans to cut roughly 10% of its workforce. Cenovus said it will cut 25% after it buys rival Husky Energy Inc.In Australia, more than 2,000 oil industry jobs have been cut since March, including at Exxon and
Equatorial Guinea Punishes Subsea 7
Helicopter."Companies operating in the oil sector have an obligation to work within the confines of our very flexible and pragmatic local content regulations," Gabriel Obiang Lima, minister of hydrocarbons and mines said in a statement.Operators ordered to stop working with Subsea 7 include Noble Energy, Exxon Mobil and Marathon Oil .Subsea 7 was not immediately available to comment on the banning order, although it said in September it was aware of the increased focus on local content and would "work closely with authorities to ensure we meet all applicable local regulations."Obiang
