150,000 JOBS LOST
According to a recent report from Swift Worldwide Resources, over 150,000 jobs in the global oil and gas industry have been cut since oil prices began to tumble last summer.
With rig counts continuing to slide and no end in sight to oil price volatility oil and gas companies are playing it safe and curbing hiring plans.
According to a survey conducted by Rigzone, 51 percent of global hiring managers said they have slowed down hiring efforts during the past three months.
Another 13 percent of respondents said they have implemented recruitment freezes this quarter.
Oil and gas industry workers have been especially hard hit by falling oil prices and plummeting rig counts.
According to the survey, 54 percent of global hiring managers said they think job cuts are more likely within the next six months while 65 percent of mangers expect headcount budgets to shrink in 2015.
Nearly 70 percent of global hiring managers said they expect the number of voluntary departures to fall during the next six months.
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Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.
OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.
REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.
Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.