Maritime Jobs
Sunday, August 25, 2019

Low Oil Prices News

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

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

Petrobras Sees Layoff Plan Saving up to $9.2 Bln

said 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

Photo: Maersk Tankers

Maersk Axe on Jobs

1,250 jobs this year. The planned cuts are part of a bid to reduce operating costs by 20 percent this year.    The company said the move would help reduce operating costs by 20 per cent by the end of 2016 and “follows an extensive internal review of business activities and continued low oil prices.”   Noting that Maersk operates “in a materially changed oil price environment,” chief executive Jakob Thomasen said the pressure is expected to continue in 2016 “and we must remain cost-focused to grow in this market.”    The job cuts at Maersk

National Oilwell Varco to Cut 1,500 Norwegian Jobs

National Oilwell Varco Inc., the largest U.S. oilfield equipment maker, said it will cut its Norwegian workforce by 1,500 by the end of this year as low oil prices have reduced investments.   It plans to cut 900 permanent jobs and 600 contractors, the firm said in a statement on Wednesday.   "The reason for the lay-offs is the big change in the market situation for our industry over the last year with reduced investments and reduced sale of new equipment," it said.   "The uncertain market situation also means that we can't say how comprehensive the process of laying

Photo: Aker Solutions

Aker Solutions to Cut Jobs in its Norway Subsea Division

Norwegian oil services firm Aker Solutions said on Thursday it planned to cut 150-200 jobs out of 3,000 in its subsea division as low oil prices made companies to cut spending.   "Our Norwegian subsea services unit has had a slow start to the year as oil companies reduce spending and delay some projects," Per Harald Kongelf, head of Aker Solutions in Norway, said in a statement.   In February, the firm announced up to 300 lay-offs within the maintenance, modifications and operations (MMO) division.     (Reporting by Stine Jacobsen, editing by Nerijus Adomaitis)

Photo: Rolls-Royce

Rolls-Royce Marine Unit to Cut 600 Jobs

about its marine unit, which accounted for about 12 percent of group revenues in 2014.   Employing 6,000 people, the unit builds propulsion systems, winches and anchors for ships, and depends on oil and gas-related customers for about 60 percent of its business.   "The effect of low oil prices means we have to continue to look for further efficiencies," Rolls-Royce Marine president Mikael Makinen said in a statement on Monday.   The price of Brent oil collapsed from $115 a barrel to $45 a barrel between June 2014 and January this year as supply swamped the global market

Shell to Lay Off Staff, Contractors in Norway

Oil producer Royal Dutch Shell will lay off 120 of its 900 workers in Norway and reduce its contractor force by 140 from 350, as low oil prices force it to cut costs, it said on Thursday.   Shell said 100 of the staff cuts would be at its headquarters in Stavanger on Norway's west coast while 20 jobs would be eliminated at its operations department in Kristiansand.   Oil firms in Norway are expected to cut investments by around 15 percent this year, the industry's lobby group predicted earlier. Spending could fall further in 2016 as energy firms hold back future developments after crude

Talisman Energy to Cut up to 15% of Head Office Jobs

employees and contractors will be laid off, Talisman spokesman Brent Anderson said, and employees will be notified beginning this week.   Other Canadian producers that have already announced job cuts include CNOOC-owned Nexen Energy, Suncor Energy Inc and Royal Dutch Shell.   "With low oil prices we have reduced our 2015 capital spending plans and with that reduced activity comes the requirement to make (job) reductions," Anderson said. "No oil company is immune to the low oil price and we are no exception."   Talisman cut its capital spending this year to $2.1 billion

O&G Sector Tarnishes Strong US Jobs Report

The U.S. oil and gas sector bled away more jobs last month as sustained low oil prices forced energy producers to reduce spending, suggesting that further pain may be ahead for the struggling industry.   A roughly 50 percent drop in oil prices since June has pummeled the U.S. oil sector, prompting a quick drop in activity. The number of oil rigs active in the United States has fallen 40 percent since October.   The mining sector of the workforce, which includes oil and gas workers, fell by 9,300 to 844,500 last month, according to the Labor Department's February payrolls report on Friday

Photo Talisman Sinopec Energy UK

Talisman Sinopec Energy UK to Cut 300 Jobs

North Sea oil and gas field operator Talisman Sinopec Energy UK said it would cut 300 jobs due to falling production levels and rising operating costs hurt by low oil prices.   The company said the number represented a split between 100 employees and 200 contractor positions.   The company also introduced immediate reductions in contractor rates.   Talisman Sinopec Energy UK is a joint venture between Canada's Talisman Energy Inc and Addax Petroleum UK Limited, a wholly-owned subsidiary of China Petrochemical Corporation (Sinopec Group).   The company has a total workforce

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