All publications by tag «JOB»
Having slashed spending plans and run out of willing buyers for assets, some U.S. shale producers are turning to workforce cuts as investors step up demands for returns.
API - “The oil and natural gas industry is a major contributor to the American economy and helps meet America’s constantly increasing energy needs. We support more than 10.3 million U.S. jobs and contribute $1.3 trillion to the U.S. economy - benefits that are felt across the country,” said API Director of Upstream and Industry Operations Erik Milito.
API President and CEO Jack Gerard called President Trump’s executive order to streamline energy infrastructure an important step in speeding up projects, creating jobs, and improving government efficiencies in delivering energy Americans demand.
Private investment in U.S. natural gas and oil infrastructure could create over 1 million U.S. jobs.
U.S. employers hired workers at a robust pace in February, beating expectations, and wages grinded higher, which could give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth.
Oil and gas extraction jobs increased by 100 to 177,400 in January, while support services jobs increased by 600 to 195,200 in December, its second increase in a row, according to U.S. Bureau of Labor Statistics (BLS) data.
Oil companies are starting to hire back workers as they add rigs to the shale patch in North America to take advantage of oil prices above $50 a barrel. After unprecedented spending cuts over the past two years, explorers are forecast to boost capital expenditures by 7 percent this year.
An analysis by the U.S. Chamber of Commerce found that the natural gas revolution generated more than 4.3 million jobs and injected nearly half a trillion dollars into the economy. It also determined that all those jobs would have been lost had the so-called “Keep it in the Ground” movement succeeded in suffocating the oil revolution.
In April, the company said it expected up to 12,000 employees to leave as part of the layoff program.
Employment in oil and natural gas production reached a high of 538,000 jobs in October 2014. Since then, oil and natural gas production employment declined 26%, a loss of more than 142,000 jobs through May 2016, based on the latest jobs data available. The total decrease in production jobs is nearly three times the 51,000 jobs lost over a 13-month period during the 2008–09 recession.