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2014-02-03 16:38:00

WEATHERFORD CUTS 7000 EMPLOYEES AND SALES $ 5B ASSETS

WEATHERFORD CUTS 7000 EMPLOYEES AND SALES $ 5B ASSETS

WFD plans to cut 7,000 employees from its staff in the first half of the year to save $500 million. The employee reductions are part of a global cost-cutting program started by Weatherford in 2013. 
Company plans to reduce its debt by $3 billion to $5 billion by the end of 2015 by divesting a significant chunk of assets.

More information here.

Tags: WEATHERFORD

Chronicle:

WEATHERFORD CUTS 7000 EMPLOYEES AND SALES $ 5B ASSETS
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

WEATHERFORD CUTS 7000 EMPLOYEES AND SALES $ 5B ASSETS
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

WEATHERFORD CUTS 7000 EMPLOYEES AND SALES $ 5B ASSETS
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

WEATHERFORD CUTS 7000 EMPLOYEES AND SALES $ 5B ASSETS
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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