EUA – Empresas de óleo e gás anunciam férias forçadas e paralisação de projetos por conta da crise

US – Oil And Gas Companies Announce Forced Layoffs And Project Halts Due To Crisis

Written by Roberta Souza

Published on 21/03/2020 at 13:21

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With The Drop In Oil Prices Associated With The Coronavirus Pandemic Forcing U.S. Oil And Gas Companies To Halt Projects And Put All Employees On Leave

With the latest events (sharp drop in oil prices and the coronavirus pandemic), U.S. oil and gas companies have adopted measures to try to mitigate the situation. Fear and uncertainty in the market are growing every day, and the future is uncertain.

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Companies in the sector are studying measures to minimize impacts, which in practice are spending cuts, including the possibility of mass layoffs.

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Halliburton announced that it will give forced leave to about 3,500 employees at its headquarters in Houston, USA. These employees will work one week on and one week off, without pay for a period of up to 60 days. The company’s leave will begin next Monday (23).

The President and CEO of ConocoPhillips, Ryan Lance, stated that the “industry is clearly undergoing an unprecedented event caused by simultaneous supply and demand shocks.” The company will reduce its investment plan by US$ 700 million, a 10% decrease from the initial forecast.

At BW Energy, the exploration and production arm of BW Offshore, the idea is not to touch the money raised from the Initial Public Offering (IPO) held last month.

Other companies are holding meetings to cut costs while clients are verifying contract cancellations, using the force majeure clause.

The price of WTI crude was quoted at approximately US$ 23 until yesterday. Meanwhile, Brent crude was trading at US$ 26.

US – Oil And Gas Companies Announce Forced Layoffs And Project Halts Due To Crisis

With The Drop In Oil Prices Associated With The Coronavirus Pandemic Forcing U.S. Oil And Gas Companies To Halt Projects And Put All Employees On Leave

Check Also:

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Contaminated water from uranium threatens mining areas, and Chinese scientists have created a solar-powered living filter that could change environmental decontamination.

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Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Government unlocks R$ 554 million for a highway that has been requested for decades and accelerates the duplication of BR.

Contaminated water from uranium threatens mining areas, and Chinese scientists have created a solar-powered living filter that could change environmental decontamination.

Excel dominates job openings even in the era of artificial intelligence: analysis reveals high demand and highlights 5 courses to move beyond the basics and advance in the job market.

Renewable energy advances over protected areas in Brazil, and a survey by the Energy Transition Observatory reveals silent impacts that challenge environmental conservation and pressure sensitive traditional territories.

Archaeologists find in Mexico a sacrifice altar over 1,000 years old, surrounded by skulls, human bones, and signs of rituals from the Toltec Empire.

Scientists open a 1-million-year-old capsule in New Zealand and find fossils of 16 species that reveal extinctions caused by volcanoes and climate changes before humans.

US – Oil And Gas Companies Announce Forced Layoffs And Project Halts Due To Crisis

With The Drop In Oil Prices Associated With The Coronavirus Pandemic Forcing U.S. Oil And Gas Companies To Halt Projects And Put All Employees On Leave

Check Also:

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Contaminated water from uranium threatens mining areas, and Chinese scientists have created a solar-powered living filter that could change environmental decontamination.

Diagnostic test

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Government unlocks R$ 554 million for a highway that has been requested for decades and accelerates the duplication of BR.

Brazilian giant expands borders in the Southeast: Petrobras confirms new oil discovery in ultra-deep waters in the pre-salt of the Campos Basin.

Alert in the global energy market: Severe tropical cyclone hits the coast and disrupts gas production at major plants in Australia, threatening global supply.

Petrobras finds high-quality oil in the pre-salt at 113 km from RJ and reignites expectations about strategic reserves in the Campos Basin.

Chinese giant worth nearly R$ 4 billion that manufactures cables for electric cars, solar energy, and robotics wants to open a factory in SC.

Many employers do not know, but the law guarantees domestic workers a 25% increase in salary during trips, 50% for overtime, 20% for night shifts, and 17 additional benefits that can lead to labor lawsuits if not paid.

Contaminated water from uranium threatens mining areas, and Chinese scientists have created a solar-powered living filter that could change environmental decontamination.

Excel dominates job openings even in the era of artificial intelligence: analysis reveals high demand and highlights 5 courses to move beyond the basics and advance in the job market.

Renewable energy advances over protected areas in Brazil, and a survey by the Energy Transition Observatory reveals silent impacts that challenge environmental conservation and pressure sensitive traditional territories.

Archaeologists find in Mexico a sacrifice altar over 1,000 years old, surrounded by skulls, human bones, and signs of rituals from the Toltec Empire.

Scientists open a 1-million-year-old capsule in New Zealand and find fossils of 16 species that reveal extinctions caused by volcanoes and climate changes before humans.