Oil and Gas UK (OGUK) has warned that the UK’s energy transition is at risk of stalling unless the industry receives “vital support” from government.
Hunting has said the group is positioned “well for the year ahead” after a strong finish to 2020, coupled with a more buoyant market outlook.
Exxon Mobil Corp. expects to cut about 300 jobs in the Asian oil-trading hub of Singapore by the end of 2021, part of a global retrenchment that was announced last year.
Shell’s boss said today that the recent “strong recovery” in oil prices meant the supermajor would have “room to spend” cash on upstream projects, including in the North Sea.
Shell recorded pre-tax losses of £19.8 billion during an “extraordinary” 2020 marked by the Covid-19 pandemic and lower commodities prices.
BP fell to pre-tax losses of £18 billion in 2020 as the energy giant’s balance sheet creaked under the weight of lower oil and gas prices.
Schlumberger’s chief executive has described 2020 as “an exceptional year of operational resilience” with the firm posting pre-tax losses of $11.2 billion (£8.3bn).
US oilfield equipment and service firm Weatherford dealt another painful blow to the Aberdeen oil industry yesterday by confirming plans to shut down its manufacturing facilities in the city.
Subsea companies across the UK are reporting an improved outlook for the industry with fewer anticipated redundancies, greater optimism and new geographical markets.
Halliburton will lay off 216 employees in North Texas as the coronavirus pandemic continues to depress demand for oil-field services and equipment.
Hunting will exit 2020 with fewer than 2,000 employees, a reduction of 34% since the start of the year.
Total SE is discussing a plan for 500 voluntary job cuts in France, where the oil company has 35,000 employees, Chief Executive Officer Patrick Pouyanne said in an interview with France Inter radio.
A trade union boss has warned predictions that 8,000 jobs have been lost in the oil and gas sector due to the latest downturn are likely to be very conservative.
Reflecting on Oil and Gas UK’s prediction that North Sea projects could take up to three years to return, the industry body’s chief executive, Deirdre Michie, said, “we have to start the year more positively than that.”
New contracts, renewals and the opening of a new Aberdeen base have been flipping the fortunes of Bilfinger Salamis after a stark start to 2020.
Around a fifth of North Sea oil and gas contractors have warned they expect to make further job cuts in 2021 as they continue to deal with ongoing turmoil in the sector.
Governments in Holyrood and Westminster have been accused of having “no political will” to support a just transition away from fossil fuels to clean energy.
Energy giant E.On is planning to cut almost 700 jobs over the next two years, mainly in support and management roles, as part of the migration of customers to a new platform.
Subsea 7 has completed installation activities for Shell’s Arran gas development in the Central North Sea.
A union boss has said the extension of the UK furlough scheme comes “too late” for thousands of lost jobs in the North Sea oil industry.
US oil major ExxonMobil was in the red in the third quarter as it showed the effects of lower oil production and prices.
Exxon Mobil Corp. will slash its global workforce by 15% over the next two years, an unprecedented culling by North America’s biggest oil explorer as it struggles to preserve dividends.
International energy services provider Hunting has made further job losses as it continues to battle the dual impact of the Covid-19 pandemic and the oil price slump.
An Aberdeen-based subsea engineering and decommissioning services provider is believed to have laid off around a quarter of its workforce.
Industry body Oil and Gas UK (OGUK) said today it is seeing “very worrying signs” for employment in the North Sea sector.