UK's Oil Services Firms to Cut Jobs to Ride Out Price Slump
Amec Foster Wheeler Plc and Petrofac Ltd on Tuesday joined a growing list of London-listed oil and gas support services companies planning to cut jobs in response to the tumble in oil prices. Benchmark Brent crude oil prices have nearly halved in the first quarter, prompting large production and exploration firms to slash their spending budgets by an average 10-15 percent and renegotiate contracts with the service providers. Amec, which employs 40,000 people, said it was in consultation with 149 Aberdeen-based employees and that about 64 roles could potentially be affected. The
Norway Oil Engineers May Walk off Job next Week
About 100 workers from oil services firms could walk off the job from July 5 if wage talks fail, the head of Norway's biggest oil sector union said on Friday, a move that would not have an immediate impact on oil output. However were such a strike to last for several weeks or longer, or if more workers were to join the action at a later stage, it could potentially affect production and even lead to shutdowns. Several rounds of wage talks between energy firms and unions have taken place in Norway in recent weeks, with none of them resulting in industrial action after all sides accepted the
