Oilfield service companies Schlumberger, Baker Hughes, and Halliburton announced layoffs of around 20,000, 10,500, and 9,000 employees respectively, while E&Ps BP and Chevron each announced layoffs approaching 10,000 of their employees, according to Douglas-Westwood, a leading provider of market research in engineering and energy industry.
According to a survey completed in January 2015 by Rigzone, 44 per cent of the surveyed companies indicated that they plan to hire fewer workers over the next six months while 5 per cent indicated they plan to completely halt hiring efforts.
More than 100,000 layoffs have been announced across the industry worldwide since prices began to slide last summer, according to a tally kept by Bloomberg. In recent weeks other major service companies have announced job reductions. Halliburton announced it will cut 6,400 jobs (8 percent of its global workforce) while Schlumberger will eliminate 9,000 positions … Continue reading
The recent decline in oil prices has led to a “softening” of recruitment in the region’s oil and gas sector, but there are still employment opportunities available in the UAE for those seeking new positions, experts told Gulf News. Overall, demand for new employees is still on the rise in the UAE, with nine out … Continue reading
Oilfield services giant Schlumberger plans to cut 9,000 jobs as the global collapse in crude oil prices crimps production in 2015 and perhaps even longer. The cuts — nearly 8% of Schlumberger’s 120,000 workers, were announced Thursday “to better align with anticipated activity levels for 2015,” the company said. Chosen excerpts by Job Market Monitor. Read … Continue reading
Canadian oil sands production is currently generating significant economic benefits for Canada in terms of jobs, economic growth and government revenue, a new IHS CERA Oil Sands Dialogue study finds. The economic contributions of oil sands—currently greater than that of Saskatchewan, Canada’s fifth largest province—will grow substantially in coming years as oil sands production is … Continue reading