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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.

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More oilpatch layoffs: Devon Energy cuts 200 jobs in Alberta

2015-10-29 20:03:03| Energy - Topix.net

Devon's Jackfish complex in Alberta reached the 100-million-barrel milestone of cumulative production in early 2015, but now the company says it is scaling back capital investments in Canada. Devon Energy says it has cut 15 per cent of its Canadian workforce as the company responds to lower capital spending plans.

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Spain's Repsol energy firm plans to cut 1,500 jobs over 3 years, a reduction of 6 per cent

2015-10-01 21:37:15| Oil & Gas - Topix.net

Spanish energy company Repsol plans to eliminate 6 per cent of its workforce by 2020, meaning about 1,500 job cuts for the company's roster of 25,000 employees. Repsol SA said Thursday in a letter to employees that the cuts are part of a three-year strategic plan for 2016-2020 aimed at making the company more efficient and ensuring its viability.

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Cenovus Energy looking to cut jobs, slashing dividend by 40 per cent

2015-07-30 16:24:04| Energy - Topix.net

Cenovus Energy Inc. says it's looking to cut between 300 to 400 jobs in the second half of this year, and is chopping its quarterly dividend by 40 per cent. The energy company says it will now pay a quarterly dividend of 16 cents per share, down from its earlier rate of 26.62 cents.

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Houston energy shipping company cuts 200 jobs

2015-05-12 18:15:10| Appliances - Topix.net

Houston-based shipping company Kirby Corp. cut 200 land-based diesel engine service jobs, about 40 percent of those workers or roughly 4 percent of its total workforce, to cope with the downturn in the energy industry, according to the Houston Chronicle . Kirby employs roughly 4,500 workers to-date and primarily deals with shipping petrochemicals.

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