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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AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.
TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.
ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.
FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.