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Friday, June 21, 2024

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Coronavirus, Consolidation Taking Toll On Energy Jobs

Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.Exxon Mobil Corp said it will cut its workforce by 15%, or about 14,000 people, along with oil majors Chevron Corp and Royal Dutch Shell Plc.All told, more than 400,000 oil and gas sector jobs have been cut this year, according to Rystad Energy, with about half of those in the United States, where several big exploration companies and most large oil service companies are headquartered.Coronavirus has devastated swathes of the global economy

Trojan Battery Names Thomas President and CEO

joins Trojan following a career with Wayne Fueling Systems where he most recently served as CEO, as well as in other executive management positions. He has also held a series of marketing, planning and sales management roles in the petroleum and industrial equipment industries with companies including Chevron Corp. and Dresser Inc. Earlier in his career, he was a strategic management consultant with Arthur D. Little in its Global Energy practice. Thomas earned a bachelor’s degree in economics from the University of Wales and an MBA from Warwick Business School, both based in the United Kingdom. Elder

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

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Petronas to Canada: No Tax Deal, No LNG Plant for 15 Years

for large multinational oil and gas companies to walk away from mega projects that are marginal and uncertain, so I don't view it as a bluff," he said. More than a dozen LNG projects have been proposed for British Columbia's Pacific coast, with companies such as Petronas, Royal Dutch Shell and Chevron Corp leading the race to build Canada's first LNG export facility. Chevron's project hit a bump earlier this year, after partner Apache Corp said it would sell its stake in the Kitimat LNG project to focus on domestic oil production. British Columbia is drafting tax rules for its nascent LNG-export

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