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

Be the first to react!

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.

Check Also:

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

ARTICLE CONTINUES BELOW

See also

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:

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

The river that “dies” in the desert never reaches the sea and yet gives life to one of Africa’s largest natural refuges in a truly impressive way.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Astronomers discover black hole wind traveling at 323 million km/h, a speed equivalent to 30% of the speed of light and considered a record.

India approved the country’s first submerged road-rail tunnel, 15.8 kilometers dug under the bed of the Brahmaputra River.

A man went to the supermarket in China with the salary of a single day’s work, and what he put in the cart will make any Brazilian question why they pay so much to eat so little.

While scientists test giant balls on the seabed, a startup wants to sink concrete and steel tanks held by cages filled with stones up to 700 meters deep to transform compressed air into an invisible underwater battery.

Former NASA engineer transforms drones into “seed helicopters” capable of firing 300 balls per minute, targeting degraded areas with half-meter precision, and planting up to 40 million trees per year in a new race for aerial reforestation.

The La Galerie Nortis, a real estate launch by developers Cyrela and Nortis in Moema, São Paulo, arrives with apartments featuring 4 suites ranging from 283 to 416 square meters, an estimated gross development value of R$ 765 million, and the proposal to redefine the high standard in the region.

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:

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

The river that “dies” in the desert never reaches the sea and yet gives life to one of Africa’s largest natural refuges in a truly impressive way.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Astronomers discover black hole wind traveling at 323 million km/h, a speed equivalent to 30% of the speed of light and considered a record.

India approved the country’s first submerged road-rail tunnel, 15.8 kilometers dug under the bed of the Brahmaputra River.

A man went to the supermarket in China with the salary of a single day’s work, and what he put in the cart will make any Brazilian question why they pay so much to eat so little.

Louvre sees $102 million worth of jewels disappear in daring heist, and now the crime that shocked Paris will hit the screens

The claw machine may seem like a shopping mall game, but a man who started from scratch has 1,000 of them spread across Brazil and earns R$ 800,000 per month while the claw holds the entire business together.

INSS Consigned Loans: Bank to Refund Amounts After STJ Nullifies Loans Made by Illiterate Person at ATM and Decides That Password, Chip Card, and Even Use of Money Do Not Validate Contracts

Amazon wants to use the World Cup to sell more than on Black Friday in Brazil, with a 7-day Prime Day, 9,000 temporary positions, 300 logistics hubs, free shipping, and a distribution center capable of processing 10,000 packages per hour.

A man went to the supermarket in China with the salary of a single day’s work, and what he put in the cart will make any Brazilian question why they pay so much to eat so little.

While scientists test giant balls on the seabed, a startup wants to sink concrete and steel tanks held by cages filled with stones up to 700 meters deep to transform compressed air into an invisible underwater battery.

Former NASA engineer transforms drones into “seed helicopters” capable of firing 300 balls per minute, targeting degraded areas with half-meter precision, and planting up to 40 million trees per year in a new race for aerial reforestation.

The La Galerie Nortis, a real estate launch by developers Cyrela and Nortis in Moema, São Paulo, arrives with apartments featuring 4 suites ranging from 283 to 416 square meters, an estimated gross development value of R$ 765 million, and the proposal to redefine the high standard in the region.