Chevron says it will reduce its headcount by 10% to 15%

In practice, the values ​​represent cuts of 5 to 7 thousand people worldwide

The oil and gas sector has been facing difficult days, since the strengthening of the spread of the coronavirus and the restrictive measures to contain it. With the drop in demand for all petroleum products and the drop in barrel prices, the impacts on the sector have been recurrent. This time, the multinational Chevron announced that it will make a cut between 10% and 15% in its staff this year.

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The purpose of the reduction, according to the company, is to reduce costs in the face of the biggest crisis in the oil industry in recent decades. In practice, what is said in the market is that the cuts will affect around 5 to 7 thousand people.

In March of this year, Chevron had announced an initial cut of US$ 4 billion in its investment programs. Now in May, the company reported an additional cut of US$ 2 billion, citing a measure of resilience to face low demand for oil.

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Regarding the headcount cuts, the company said, "This is a difficult decision, and we do not take it lightly."

For Pierre Breber, the company's financial director, the reductions should reach all sectors of the company, but should be a little more centralized in corporate and support functions.

National Petroleum Agency (ANP) makes new supply rules more flexible

One of the measures was the prior need to carry out an inspection of the fuel storage facilities in order to grant the operating authorization. This measure was temporarily suspended due to the current pandemic scenario, in which social isolation rules are in effect.

Also, in addition to this measure, the agency released liquid and aviation fuel producers from complying with rules (resolutions) that determine the formation of gasoline, diesel and aviation kerosene stocks.