Maritime Jobs
Friday, November 22, 2024

Conoco to Cut 7% of Canadian Workforce

Posted by March 18, 2015

Photo: ConocoPhillips

Photo: ConocoPhillips

Oil company ConocoPhillips plans to cut about 7 percent of its workforce in Canada, or about 200 employees, as tumbling oil prices have made its operations in the country less profitable.
 
The company, which operates conventional and oil sands operations in Canada, told Reuters on Wednesday the cuts came as oil prices continue to weaken after falling more than 60 percent since June.
 
"The challenging economic environment has required us to make some difficult decisions," Andrea Urbanek, a spokeswoman for the company, said in an email.
 
ConocoPhillips shares were up 4 cents in midday trading on the New York Stock Exchange at $62.05.
 
The layoffs follow one from Talisman Energy Inc on Wednesday; the company will cut 15 percent of its staff due to low prices ahead of its acquisition by Spain's Repsol SA .
 
Other Canadian producers that have already announced job cuts include CNOOC-owned Nexen Energy, Suncor Energy Inc and Royal Dutch Shell.
 
 
(Reporting by Anna Driver and Scott Haggett; Editing by Terry Wade and Bernadette Baum)
Royal Dutch ShellTalisman Energy Inc.Suncor Energy Inc.

Featured Employers

NOAA

Enjoy an exciting career with NOAA’s Office of Marine and Aviation Operations!NOAA is home to the na

Ryan Ship Management Pvt Ltd

RYAN provides recruitment, logistical, catering and technical services to the offshore and non-offsh

Military Sealift Command

The Military Sealift Command (MSC) is a United States Navy organization that controls most of the re