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2015-09-03 18:30:00

CONOCO CUTS 10%

CONOCO CUTS 10%

ConocoPhillips said Tuesday that it plans to cut about 10 percent of its global workforce. 

The company will cut about 1,800 positions, with most of the reductions coming from its North American operations. 

About 500 job cuts are expected in Houston.

The company currently employs 3,753 workers at its Houston headquarters.

"Our industry is undergoing a dramatic downturn, which has caused us to look at our future workforce needs," a ConocoPhillips spokesperson told.

Further details about the cuts have not been released yet.

petroglobalnews.com

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More: 

CONOCO SELLS INDONESIA 

CONOCO SELLS NORWAY 

CONOCO SELLS U.S. ASSETS 

CANADA OIL&GAS M&A 

CONOCO CUTS $2 BLN 

CONOCO SELLS CLAIR: 24%, $3 BLN 

CONOCO STUDIES CHILE 

CONOCO SOLD NIGERIA 

EXXON & CONOCO: BEAT EARNINGS 

CONOCOPHILLIPS 1Q UP 

CONOCOPHILLIPS LNG 

CONOCOPHILLIPS RAISES 

CONOCOPHILLIPS LESS & BETTER

 

Tags: CONOCOPHILLIPS, OIL, PRICES

Chronicle:

CONOCO CUTS 10%
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.

CONOCO CUTS 10%
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.

CONOCO CUTS 10%
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.

CONOCO CUTS 10%
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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