Oil major Shell has revealed it has made 1,000 job losses from its North Sea operation since the global decline in oil price.
Baker Hughes is said to be cutting its pay for US workers by 5% in a bid to reduce costs and lessen the need for additional job reductions.
Caza Oil & Gas has secured a further extension on its financing arrangement with Apollo Investment Corporation. The company entered into a Note Purchase Agreement two years ago when Apollo agreed to purchase up to $50million of it senior secured notes. In September it was revealed the balance of the Note Purchase Agreement remained at $45million and although expected to comply with certain financial requirements, Caza was found to not be in full compliance.
KMG EP has strengthened its leadership team with the appointment of a new chief executive. Kurmangazy Iskaziev was previously the boss of JSC Embamunaigas, (EMG) one of the core production assets of the company.