Search results for: cut

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  • 22 January 2016

    Schlumberger, world’s largest oilfield services provider slashed 10.000 jobs in the fourth quarter of 2015. The company said that the reason was an expected extended activity weakness in the first half of 2016. This led the company to recognize in the fourth quarter $530 million in pretax restructuring charges. The charges were for expanding the “incentivized leave of […]

  • 13 May 2016

    Dozens of jobs will be cut in Louisiana in the following months, due to, in part, low oil prices, Louisiana Workforce Commission has informed. In a statement this week, the commission said that four Louisiana employers recently issued Worker Adjustment and Retraining Notifications (WARNs). Companies are required to file WARNs under the federal Worker Adjustment […]

  • 12 December 2014

    World’s second largest provider of oilfield services, Halliburton, will let a thousand workers go, according to reports. The layoffs will affect workers in Europe, Asia, Africa and Middle East, while there will be no workforce cuts in America. Reportedly, Halliburton spokesperson told AFP that the job cuts were necessary for Halliburton to work through challenging market […]

  • 15 October 2010

    Drill cuttings produced on board the Paul B Loyd Junior rig operating for BP in the North Sea are to undergo specialised treatment after deals signed with a specialist waste contractor.

  • 18 February 2015

    Norwegian engineering and construction company Aker Solutions will lay off more workers in Norway due to a decline in activity levels stemming from low oil prices. The company has said that it will make “the adjustments” within the maintenance, modifications and operations (MMO) sector. About 300 engineering and project management employees in the Norwegian MMO business may be affected. The […]

  • 21 January 2015

    After BP last week announced it would lay off 300 workers in the UK, amid plunging oil prices and challenging market conditions, another UK North Sea operator has decided to follow suit. According to BBC, Talisman Sinopec said that from a workforce of around 3000, ten per cent would be affected. Of the three hundred […]

  • 8 October 2015

    Vroon Shipping Services will reduce its operational fleet by taking twelve offshore-support vessels out of operation, which consequently means it will also reduce the number of onboard positions.  The Dutch shipping company said in a press release on Thursday that it would be taking twelve offshore-support vessels out of operation, citing the ongoing slump in offshore […]

  • 1 February 2018
    Business & Finance

    Over the years a thick layer of sediment has built up in the Woolston Cut, reducing its capacity to handle stormwater during heavy rain. Contractors engaged by Christchurch City Council are now dredging the Cut to remove the build-up of silt and deepen the channel. “The dredging will increase the capacity of the Woolston Cut […]

  • 26 February 2016

    World’s second largest provider of oilfield services, Halliburton, is reportedly reducing its workforce by another 5,000 pressured by the prolonged low oil price environment.  According to AFP, a global news agency, Halliburton will cut 5,000 jobs to cope with the oil price slump. The news agency quoted Halliburton’s spokesperson as saying: “Due to ongoing market […]

  • 9 September 2015
    Exploration & Production

    Ensco, an offshore driller based in the UK, has said it will lay off more workers in order to reduce cost and improve efficiency. The company said on Tuesday it would reduce onshore support positions by an additional 14% to achieve an $30 million in annual savings. It also said it would increase offshore unit […]

  • 12 June 2015

    Norwegian oil and gas giant Statoil will reportedly reduce its workforce by 2000 positions.  According to, about 1500 permanent employees and 500 contractors will be notified of this decision. The news website further reports that the final decision is yet to be made, however there is no indication that the result will be anything […]

  • 18 September 2015

    World’s second largest provider of oilfield services, Halliburton, has confirmed workforce reductions in Duncan, Canada citing current business conditions.  In an e-mail to sent to Offshore Energy Today, Halliburton spokesperson said: “Halliburton will continue to monitor the business environment and will adjust the size of our workforce to align with current business demands as needed.” […]

  • 16 June 2015

    Norwegian oil and gas giant Statoil has confirmed it will be laying off up to 1,500 permanent employees by the end of 2016.  Offshore Energy Today recently reported that Statoil might be reducing its workforce by 2,000 positions starting next year. The effort to standardise, simplify and increase efficiency across Statoil enters the next phase, the […]

  • 15 May 2017

    Royal Boskalis Westminster is set to cut around 230 jobs in its Papendrecht head office, following the completion of the study into the costs of its head office organization. In a statement on Monday, Boskalis said that the deteriorated market circumstances and the expected long spell of low energy prices were the reason for the study. […]

  • 2 November 2016

    Dutch oil and gas contractor Heerema Fabrication Group (HFG) is reducing its workforce in two yards in the Netherlands, Zwijndrecht and Vlissingen, as well as in Poland and England.  In a statement on Wednesday, Heerema Fabrication Group said that due to poor market conditions in the oil and gas industry, increasing competition, the combination of price […]

  • 11 January 2017

    UK energy company Centrica has reduced its Aberdeen exploration and production division workforce by 25 employees. The company’s spokesman told Offshore Energy Today on Wednesday that the reduction of the Aberdeen team meant it the now employs just over 310 people. “After a full consultation with our people, we have taken the difficult but necessary decision […]

  • 8 June 2020
    Business & Finance

    PGS said it will implement further cost reductions as seismic industry takes major hit on Covid-19 and oil market disruption. Specifically, this includes staff reductions, re-organization, consolidation of offices, re-negotiation of service agreements and other cost measures. This should also bring annual gross cash cost run-rate to approximately $400 million, from initial $600 million, PGS […]

  • 30 March 2017

    Deepwater oil and gas industry, generally considered an expensive investment, has managed to cut its costs to a certain level, allowing its most attractive deepwater projects to now compete with US tight oil plays, Wood Mackenzie said. However, more cuts are needed to drive the deepwater breakevens further down. The consultancy group has said that a leaner […]

  • 7 May 2015

    The recovering price of oil should bring an immediate end to the oil and gas industry’s opportunistic campaign of job cuts and impositions to working conditions, Unite, a workers’ union in the UK has said today. The call comes after talks with Offshore Contractors Association (OCA) employers convened yesterday in the wake of a consultative […]

  • 10 May 2016
    Business & Finance

    Oil and gas company Chariot Oil & Gas Limited is making cuts in personnel and board of directors citing the continuously challenging business environment. The move will see a reduction in personnel and payroll in the head office by approximately a third, and a reduction in the size and cost of the Board with Matthew Taylor, Technical […]

  • 18 April 2016

    UK energy company Centrica will reduce its workforce by 3.000 people in 2016, as part of its cost cutting initiative. The company revealed the info in its trading statement on Monday when it said direct headcount was expected to reduce by around 3.000 in 2016 – reduction of around 800 in the first three months of […]

  • 3 November 2015

    Dutch marine engineering firm Fugro will lay off hundreds of workers in the coming quarters. The company is trying to keep its expenses at bay due to a deteriorating market situation in the oil and gas market, caused by low oil prices. The oil and gas market makes up an estimated 78 percent of Fugro’s […]