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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The coronavirus is advancing unabated through Europe and America, while Arabs and Russians do not reach a consensus on curbing oil production. This scenario appears perfect to trigger a new global crisis in the oil and gas market.

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:

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

A surreal road in southern Brazil cuts through the Serra do Corvo Branco, revealing mountains that resemble pyramids, cliffs used in commercials, and a Santa Catarina village marked by a sad history before the access was fully paved.

Webb found a cradle of planets 5,550 light-years away where water almost disappears, and the disk around the star XUE 10 has CO₂ in regions where rocky worlds like Earth should be born, revealing a planetary chemistry very different from that which formed our Solar System.

Couple transforms abandoned land in Portugal, moves a 6-ton tiny house, hides a container on the slope, and builds a 50 m² deck in two days while advancing on the main house surrounded by glass and nature.

Giant trucks with no one in the cabin have already moved more than 8.6 billion tons of rock and ore around the world, equivalent to more than a thousand Great Pyramids, all without a single recorded injury.

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:

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Baly, a manufacturer from Santa Catarina that surpassed Red Bull and Monster to take the lead in the Brazilian energy drink market in December, is moving forward with the new factory in Araranguá, expected to create over a thousand jobs and begin operations in the second half of 2026.

The shortage of bricklayers is already making renovations more expensive in Brazil and forcing property owners to change the way they hire labor, while delayed projects, rework, low qualifications, and lack of planning are turning small constructions into increasingly costly headaches.

Grupo Equatorial tops the national Abradee ranking and places three distributors among the highest rated by major energy clients.

Government announces more than R$ 7 billion in investments in Amazonas on a single Wednesday, the package includes a controversial highway, energy for 75,000 people in communities, new ports, and the largest order in the Brazilian naval industry in a year.

She started by collecting oyster shells from restaurants and today she has already accumulated more than 10 tons to restore reefs, recover coastal habitats, and demonstrate how a common waste can become a tool for ocean conservation.

A surreal road in southern Brazil cuts through the Serra do Corvo Branco, revealing mountains that resemble pyramids, cliffs used in commercials, and a Santa Catarina village marked by a sad history before the access was fully paved.

Webb found a cradle of planets 5,550 light-years away where water almost disappears, and the disk around the star XUE 10 has CO₂ in regions where rocky worlds like Earth should be born, revealing a planetary chemistry very different from that which formed our Solar System.

Couple transforms abandoned land in Portugal, moves a 6-ton tiny house, hides a container on the slope, and builds a 50 m² deck in two days while advancing on the main house surrounded by glass and nature.

Giant trucks with no one in the cabin have already moved more than 8.6 billion tons of rock and ore around the world, equivalent to more than a thousand Great Pyramids, all without a single recorded injury.