The Canadian economy could lose up to 185,000 direct and indirect jobs related to the oil and gas industry this year as a result of an anticipated $31 billion reduction in industry capital and operational expenditures in response to low commodity prices, says a new study.
May 19, 2015, 10:38 AM MDT
Like many Canadian producers are expected to do, Imperial Oil Limited reported a net loss on its upstream operations in the first quarter (DOB, April 30, 2015).
May 1, 2015, 8:05 AM MDT
April 30, 2015, 9:42 AM MDT
April 23, 2015, 9:45 AM MDT
With industry conditions continuing to worsen, Halliburton Co. announced this morning it is reducing its 2015 capital budget by about 15 per cent and hinted that further staff reductions are likely.
April 20, 2015, 9:47 AM MDT
April 17, 2015, 8:42 AM MDT
While layoffs are a necessary evil given the current oil and gas industry downturn and the resulting need to reduce costs, shrinking headcounts could come back to bite the oilpatch when the inevitable upswing occurs and the demand for skilled labour spikes.
April 13, 2015, 11:32 AM MDT
Talisman Energy Inc., whose takeover by Spanish company Repsol S.A. is expected to close in the second quarter, has reduced capital spending and cut jobs, while ConocoPhillips also confirmed layoff plans in Canada.
March 18, 2015, 11:12 AM MDT
Nexen Energy ULC, a wholly-owned subsidiary of CNOOC Limited, has announced organizational changes that will reduce its North American workforce by approximately 340 employees, with 300 of those in Canada.
March 17, 2015, 9:57 AM MDT
March 12, 2015, 10:02 AM MDT
Service companies are now faced with not only less work and customers asking them to reduce their prices, but the challenge of retaining the skilled labour they have paid premiums to hire and keep, a recent conference heard.
March 5, 2015, 8:54 AM MST