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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REUTERS - A consortium of western companies and Russia’s Gazprom that is due to build the controversial subsea Nord Stream 2 gas pipeline to Germany said on Tuesday it was starting preparatory work in the Greifswald bay off Germany’s Baltic coast.
GAZPROM - The parties reviewed the issues of cooperation in the energy industry, focusing on, inter alia, substantial growth in Russian gas exports to Austria. According to preliminary data, from January 1 through May 14, 2018, Gazprom delivered to Austria 4.7 billion cubic meters of gas, an increase of 70.4 per cent from the same period of last year.
FRB - Industrial production rose 0.7 percent in April for its third consecutive monthly increase. The rates of change for industrial production for previous months were revised downward, on net; for the first quarter, output is now reported to have advanced 2.3 percent at an annual rate.
WNN - Rosatom, the Russian state nuclear corporation, signed a series of agreements with overseas companies during the Atomexpo conference and exhibition being held this week in Sochi, Russia. The agreements, with Chile, China, Cuba, Finland, Hungary, Iran, Italy, Kazakhstan, Saudi Arabia, Serbia, Spain and Zambia, include the engineering and medical sectors, among others.