Norway’s Statoil launched the next phase of its efficiency program on Tuesday, announcing it would cut between 1,100 and 1,500 permanent employees by the end of 2016 as it looks to increase efficiency and strengthen competitiveness.
The oil and gas major said a further 525 consultant positions will also be cut, while additional changes to the organization will be presented by the end of the month.
A more accurate number of the total job losses, and where in the group the cuts will take place, will be decided between August and November, it said.
“We regret the need for further reductions, but the improvements are necessary to strengthen Statoil’s competitiveness and secure our future value creation,” said Chief Operating Officer, Anders Opedal.
In 2014, the oil and gas industry spent more than $125 billion on exploration, development and production activities in Canada, supporting more than 720,000 direct and indirect jobs. With an anticipated $31 billion reduction in capital and operational expenditures in 2015, the Canadian economy could lose as many as 185,000 direct and indirect jobs related … Continue reading
Layoffs in the oil and gas industry are nearing 100,000 worldwide since oil price started declining late last summer, a report said. 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 … Continue reading
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