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2015-06-29 18:10:00

150,000 JOBS LOST

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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WNN - Rusatom International Network - a subsidiary of Russian state nuclear corporation Rosatom - has signed a memorandum of understanding and cooperation with the Eurasian Development Bank (EDB). The memorandum provides for establishing common principles of bilateral cooperation with Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries.

150,000 JOBS LOST
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BLOOMBERG - The Norwegian government in June made its first deposit into its wealth fund since the end of 2015. Now that the economy is in full recovery and the labor market is tightening, winding down fiscal stimulus is a key priority in next year’s budget, the prime minister said in an interview in Arendal, on Norway’s southern coast.

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PLATTS - A deal between Chinese companies and Alaska's state gas corporation to build the $43 billion Alaska LNG Project appears to be on scheduled despite the trade war brewing between the US and China.

150,000 JOBS LOST
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REUTERS - Benchmark Brent crude oil LCOc1 was up 10 cents at $72.91 a barrel by 0930 GMT. U.S. light crude CLc1 was unchanged at $67.63 a barrel.

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