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As oil plunges, energy companies cut jobs, postpone projects

2016-01-12 22:10:35| Energy - Topix.net

The world's biggest oil companies are slashing jobs and backing off major invest... . In this Wednesday, Nov. 25, 2015, photo, Cornelio Bonilla pumps gas at Best Food Mart gas station in Gainesville Ga.

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As oil plunges, energy companies cut jobs, postpone projects

2016-01-12 22:10:34| Energy - Topix.net

This Thursday, Jan. 15, 2015 file photo shows a BP logo outside a petrol station in the town of Bletchley in Buckinghamshire, England. The world's biggest oil companies are slashing jobs and backing off major investments as the price of crude keeps falling - and it may be just the beginning.

Tags: jobs companies energy cut

 
 

As oil plunges, energy companies cut jobs, postpone projects

2016-01-12 22:10:33| Energy - Topix.net

The world's biggest oil companies are slashing jobs and backing off major investments as the price of crude falls to new lows - and there may be more pain to come. Companies like BP, which said Tuesday it is cutting 4,000 jobs, are slimming down to cope with the slump in oil, whose price has plummeted to its lowest level in 12 years and is not expected to recover significantly for months, possibly years.

Tags: jobs companies energy cut

 

Big oil to cut investment again in 2016

2016-01-03 15:21:05| Energy - Topix.net

LONDON, Jan 3 With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors. At around $37 a barrel, crude prices are well below the $60 firms such as Total, Statoil and BP need to balance their books, a level that has already been sharply reduced over the past 18 months.

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Big oil to cut investment again in 2016

2016-01-03 14:41:36| Oil & Gas - Topix.net

LONDON, Jan 3 With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment cuts in decades, but are expected to borrow more to preserve the dividends demanded by investors. At around $37 a barrel, crude prices are well below the $60 firms such as Total, Statoil and BP need to balance their books, a level that has already been sharply reduced over the past 18 months.

Tags: big cut investment oil

 

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