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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%
October, 16, 11:50:00

SAUDI ARAMCO IPO

Saudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.

CONOCO CUTS 10%
October, 16, 11:45:00

SAUDI'S BANKS ARE BETTER

But we expect a rise in the sector's NPL ratio and muted credit demand in the second half of 2017 and 2018, reflecting the slowing economy. GDP growth slowed to 1.4% in 2016 from 3.4% in 2015 and we expect it to be below 1% in 2017 and 2018.

CONOCO CUTS 10%
October, 16, 11:40:00

OPEC EXPECTATION

The Organization of Petroleum Exporting Countries and allies including Russia have been cutting oil production this year to bring fuel inventories in industrialized nations back in line with the five-year average.

CONOCO CUTS 10%
October, 16, 11:35:00

JAPAN LNG INVESTMENT

The Japanese government will offer $10 billion to support firms bidding to build liquefied natural gas (LNG) infrastructure around Asia, the Nikkei business daily said on Monday.

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