Exxon to Lay Off 300 Workers in Singapore
Exxon Mobil Corp plans to cut its workforce in Singapore, home to its largest oil refining and petrochemical complex, by about 7% amid the "unprecedented market conditions" resulting from the COVID-19 pandemic, it said on Wednesday.About 300 positions out of 4,000 current jobs will be impacted by the end of 2021, the company said in a statement.The Singapore layoffs come weeks after Exxon announced its plan to close its 72-year-old Altona refinery in Australia and convert it to an import terminal. The top U.S. oil producer, once America's most valuable company, posted a historic annual
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
Exxon Considering Global Job Cuts after Lay-Off Plan in Australia Revealed
Exxon Mobil Corp is assessing possible worldwide job cuts, a spokesman said on Wednesday, after the company announced a voluntary lay-off program in Australia.Exxon is the latest oil major to embark on axing jobs spurred by a historic collapse in fuel demand because of the coronavirus pandemic.The company has slashed capital spending this year by 30% to around $23 billion and said in August it planned both capital and operating expense cuts to defend its dividend after reporting losses in the first and second quarters."We have evaluations underway on a country-by-country basis to assess possible
Exxon Names Country Head in Emerging Hot Spot Guyana
Exxon Mobil Corp said on Thursday it had named its former Qatar country manager as the chief of its operations in Guyana, a South American country that just started producing crude last year and is seen as key to the company's future.Alastair Routledge takes over after the company, as part of a consortium with Hess Corp and China's CNOOC Ltd, has discovered some 8 billion barrels of oil and gas off the coast of Guyana, a poor country with no history of oil production.While crude exports have the potential to spur economic development, Routledge will have to contend with political turbulence
ExxonMobil Hires Crude Trader in Singapore
Crude oil trader Michael Huang is expected to join Exxon Mobil Corp in Singapore soon as the U.S. major expands its trading team to sell its oil into China, the world's top importer of the commodity, three industry sources said. Huang was recently a Singapore-based crude trader for Chinese independent refiner Wonfull Petrochemical, purchasing feedstock for its Shandong refinery and carrying out hedging activities. He left the company in late June, the sources said on Monday. Before Wonfull, Huang has worked for China's CEFC International Singapore, the Intercontinental Exchange (ICE)
Maersk Drilling Axes Dozens of Staff
will likely be permanent unless the company secures a new contract for the Viking. The Maersk Viking drillship was delivered to Maersk Drilling in February 2014 by Samsung Heavy Industries shipyard in Geoje-Si, South Korea. Previously, the Maersk Viking was operating for Exxon Mobil Corp. on the Julia field in the U.S. Gulf of Mexico up until Dec. 2017, according to a company press release.
UK's Oil Services Firms to Cut Jobs to Ride Out Price Slump
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 company's clients include Royal Dutch Shell Plc and Exxon Mobil Corp . Petrofac was in talks to cut around 100 offshore jobs and up to 100 more onshore could be affected, a company spokesman said. The company, which employs 20,000 people, did not specify the location of the job cuts. A day earlier, smaller peer John Wood Group Plc, the Aberdeen-based
Exxon CEO: Lifting Crude Export Ban Would Create US Jobs
Scrapping a decades-old ban on U.S. crude oil exports would spur job creation and boost energy security by encouraging new investment that lifts production, Exxon Mobil Corp's chief executive said on Thursday. Chief Executive Officer Rex Tillerson, speaking to a business group, said trade restrictions should also be lifted for exports of liquefied natural gas, or LNG, which are subject to lengthy regulatory reviews. Dozens of companies are lining up to export LNG and a superlight type of crude oil known as condensate as U.S. output of oil and gas has surged to a 25-year high, thanks to advances
