Maritime Jobs
Friday, October 18, 2019

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Keppel rig operations (CREDIT: PEMA)

Keppel to Add 1,800 Offshore, Marine Staff

Singapore conglomerate Keppel Corp is planning to add 1,800 staff this year at its offshore and marine business, the first time the company is hiring for the division after cutting thousands of jobs since 2015.The slump in oil prices in 2014 and a global oversupply of drilling rigs had hit orders at the company's O&M division, but demand is slowly returning."With the expected increase in work flow as well as preparing for the upturn we would be looking to add to our (O&M) workforce this year," Keppel CEO Loh Chin Hua said at the company's results briefing. "And this

Wael Sawan (Photo: Shell)

Shell Appoints Sawan as Upstream Boss

Shell in 1997.Brown, 56, will remain a member of Shell's executive committee until his departure on Sept. 30, Shell said in a statement."I am grateful to Andy for his strong leadership of the Upstream business, particularly having improved business performance during the recent years of low oil prices," Chief Executive Officer Ben van Beurden said in a statement.Shell, the second largest publicly-traded oil company behind Exxon Mobil, produced nearly 3.6 million barrels per day of oil and gas equivalent in the third quarter of 2018.Shell transformed its upstream operations following the

Schlumberger CFO Ayat to Retire Soon

firm, three people familiar with the matter told Reuters.Stephane Biguet, currently vice president of finance, is the frontrunner to replace Ayat, according to the people who declined to be named because the matter is not yet public.Schlumberger declined to comment.The CFO change would come as rising oil prices and dwindling producer reserves are helping lift demand for oil services, which were hit hard by the 2014 oil price crash.Schlumberger executives have said oil companies will have to increase spending to overcome declining output from existing fields and meet future demand.Ayat's successor

Vallourec Drilling Products Cuts Roughly 150 Jobs in Texas

, according to a regulatory filing. Vallourec specializes in making tubular products for the energy and other industrial sectors. It has about 19,000 employees worldwide. The layoffs come as companies that supply equipment and services to the oilfield are still recovering from a three-year rout in oil prices. Although benchmark crude futures have traded above $60 a barrel for much of the year, they have fallen recently amid concerns of growing supply. On Tuesday, West Texas Intermediate crude futures were trading around $58.74 a barrel. In December, Vallourec said it was considering divesting

(Photo: MPT)

Simulation: Maritime Professional Training

; The Market Today MPT cuts a wide wake in the industry focusing on five primary areas: passenger vessels, commercial deep-draft vessels, energy exploration and support vessels, tug and barge vessels, megayachts, and inland vessels. The offshore energy sector has suffered with the precipitous drop in oil prices but many of those mariners are looking at ways to improve their skill set to either compete for the remaining jobs, or move into other segments of the marine industry.    There are growth opportunities, as international regulations are not going away, nor is the efficiency of maritime

Jim Hagemann Snabe (Photo: A.P. Moller-Maersk)

A.P. Moller-Maersk Elects New Chairman to Steer Digital Transformation

A.P. Moller-Maersk's new chairman committed to automating its systems as the oil and shipping group steps up its drive to become more efficient and save costs at a time of low oil prices and declining freight rates. The more than 100-year-old conglomerate's digital push will mean that in theory, it should be as easy to book a container as booking an airline ticket, Chairman Jim Hagemann Snabe told Reuters shortly after he was elected. "We transport goods in the physical world and that won't change as we won't start beaming things around the world," the former co-CEO of German software

Oil Rises on Expected U.S. Inventory Decline

; Kuwait Petroleum committed to output cut.   * OPEC deal compliance meeting set for Jan. 21-22 in Vienna   * Saudi expected to lift Asian crude export prices - traders (Adds details on OPEC compliance meeting, updates prices)   By Karolin Schaps   LONDON, Jan 4 (Reuters) - Oil prices ticked higher on Wednesday on expectations that U.S. crude inventories are falling and signs that oil producers will stick to agreed output cuts that took effect this week.   Global benchmark Brent crude futures were up 10 cents at $55.57 a barrel by 1110 GMT. The contract reached an 18-month

(File photo: Jill Friedman)

Singapore Considering Financial Aid to Marine Sector

of trade and industry S. Iswaran said the government is working in consultation with the marine and offshore engineering sectors, plus the region’s financial institutions, to review the possible need for measures to help them recover from the economic downturn prolonged by the recent slump in oil prices. Government-backed loans are already provided which help small businesses deal with cash flow issues but the offshore sector has been particularly hard hit by the recession with thousands of job losses. “A healthy marine industry is crucial to the Singapore economy and so it is good

Caterpillar CEO to Retire, Successor a Company Veteran

on Dec. 31 but stay on as executive board chairman until March 31, the company said on Monday.   Caterpillar shares were down about 0.58 percent to $87.20.   Under Oberhelman the company recorded record high revenue in 2012, two years after he became CEO. However, a decline in metals and oil prices hit the company hard and its sales have fallen since 2013.   A 35-year company veteran, Umpleby must grapple with Caterpillar's sober outlook.   In July, the company said it expects no upturn this year in the mining, oil and gas and transportation industries as commodity prices have

Shearwater platform (Photo: Shell)

Wood Maintenance Workers Back Strike on Shell Platforms

the platforms was unlikely to be affected by potential strikes in the short term.   Nearly all Wood Group workers who participated in the ballot carried out by labour unions Unite and RMT supported strike action over disputes surrounding pay and working conditions, the unions said.   Weak oil prices are expected to cost around 120,000 oil workers in Britain their job by the end of the year, according to industry group Oil and Gas UK, and many have had to accept pay cuts.   Wood Group announced in February a 9-percent cut in wages of around 200 British contractors, following pay reductions

Norwegian Unions Say 755 O&G Workers Could Strike

million cubic metres (mcm) per day.   Norway currently produces about 1.6 million barrels of crude and 280 million standard cubic metres of natural gas per day. Its combined natural gas liquids (NGL) and condensate output is about 400,000 barrels.   Employers have argued that a plunge in oil prices since 2014 must be accompanied by cost cuts and flexible work practices to help to keep the industry competitive.   Unions, meanwhile, say that members should receive pay increases matching those in other industries.   The Industri Energi union said it would take out 524 members if

Net changes in fleet and additional officer requirement, end 2015-2020   Source Drewry Maritime Research

Slowing Shipping Fleet Growth to Ease Officer Shortage - Drewry

any increase in wage levels to a bare minimum. While manning costs for 2016 are largely similar to those in 2015, in some sectors, such as LNG, there have been some uplifts in wage costs over the past year. However, the offshore sector, in particular, has witnessed wage reductions in light of falling oil prices and an uncertain economic outlook. “With the growth in the size of the cargo carrying fleet tapering off, we expect the ongoing officer shortage to ease and for wage costs to increase modestly over the next five years”, said Nikhil Jain, senior analyst at Drewry.  

Richard Herbert (Photo: BP)

BP Exploration Boss Leaves in Reorganization

; Herbert, a BP veteran and a long-time ally of Chief Executive Bob Dudley, rejoined BP in October 2013 after several years at rival Talisman Energy. His task was to lead exploration activity to help the firm rebuild investor confidence following a deadly U.S Gulf oil spill in 2010.   But as oil prices began to crash from mid-2014 and BP had to shed assets to pay off some $50 billion in U.S. liabilities for the Macondo spill, the firm had to reduce funding for costly exploration projects.   BP said the departure followed a decision to simplify BP's upstream executive team, headed by Bernard

Photo: Chevron Corp

Chevron Suffers Loss, Plans Job Cuts

 Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016, up from a previously stated goal.   Chevron reported a net loss of $725 million, or 39 cents per share, compared with a net profit of $2.57 billion, or $1.37 per share, in the year-ago period.   Revenue tumbled 31% to $23.55 billion. Analysts projected a loss of 20 cents on $21.43 billion in revenue, according to Thomson Reuters.   "First quarter results declined from a

Petrobras Sees Layoff Plan Saving up to $9.2 Bln

on Friday it will launch a voluntary layoff program to cut an estimated 12,000 jobs in a bid to save up to 33 billion reais ($9.20 billion) by 2020.   The program will cost 4.4 billion reais and is open to all employees, according to a statement from Petrobras, which has been hard hit by low oil prices, refinery project problems and a massive price-fixing, bribery and political kickback scandal.   The company said the planned redundancies would help adjust the size of its workforce to a smaller investment plan and boost productivity.   Investors have long criticized Petrobras for

Bonga FPSO (Photo: Shell)

Floating Production's Future: The 6 Things You Need to Know Now

available is shown in the accompanying chart.    An additional 55 production floaters and 7 storage/offloading units are currently on order.  Of these, 53% are FPSOs, 13% are another type of oil/gas production unit and 35% are LNG liquefaction or regasification units.     2. Oil Prices Hit Bottom in January and Appear to be Recovering The continuing imbalance of oil demand and supply has weighed on oil pricing and has caused many oil companies to cut back on capital spending plans.   Brent crude in March 2014 was trading around $105 per barrel.   By March 2015 the

Aker to Cut 280 Jobs in Britain

group Aker Solutions is to cut around 280 jobs, 11 percent of its U.K. workforce, in its Aberdeen and London offices, the company said on Tueday, blaming poor market conditions.   Aker suspended dividend payments in February and warned market conditions would remain challenging as the slump in oil prices has led to reduced spending by oil companies.   "Aker Solutions (has begun) a consultation with employee representatives on reducing its UK Subsea workforce capacity because of a continued market slowdown," said a spokesman.   Aker has roughly 15,000 permanent employees

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