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Schlumberger cuts more jobs in first quarter

Schlumberger cuts more jobs in first quarter

Schlumberger slashed another 2,000 jobs in the first quarter as the energy industry navigates turbulent market conditions. The company’s global workforce now numbers about 93,000, according to Schlumberger spokesman Joao Felix. “The decline in global activity and the rate of activity disruption reached unprecedented levels as the industry displayed clear signs of operating in a full-scale cash crisis,” Chairman and ...

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Oil majors show interest in Mexico’s offshore auction

Oil majors show interest in Mexico's offshore auction

Mexico’s forthcoming auction of offshore oil and gas fields is drawing significant interest, according to a report by Fuel Fix. So far, 21 companies have asked to review data on fields within Mexico’s territorial waters in the Gulf of Mexico. Major oil companies, such as ExxonMobil, BP, and Chevron, have expressed interest in the available fields. The country will auction ...

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Equipment rental offers economic benefits in low price environment

Light Tower Rentals, equipment rental

Oilfield operators are struggling to operate efficiently in today’s challenging environment. To avoid large capital expenditures and maintenance costs, more and more operators are shifting from buying equipment to equipment rental. Renting equipment provides customers with certainty because the costs to rent are predictable, and the rental company handles the maintenance, repair and delivery, which are variable expenses that can ...

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Chevron announces more Houston job cuts

Chevron announces more Houston job cuts

Chevron plans to cut 655 Houston jobs as part of a payroll decrease across its upstream business. The California-based company confirmed the layoffs Thursday. Chevron previously stated it would cut its workforce by 4,000 this year. In 2015, The oil major reduced its workforce by 3,000. The total estimated cuts made up about 10 percent of the company’s workforce at ...

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More Texas jobs lost as oil bust continues

More Texas jobs lost to oil bust

More than 1,100 Texas jobs have been cut in the past few weeks, according to reports by the Texas Workforce Commission. Oil major BP plans to cut at least 500 jobs in Harris County this year. The layoffs are expected to happen in June at three Houston locations. BP spokesman Jason Ryan said about 4,000 total upstream jobs will be ...

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Shreveport to host Ark-La-Tex Oil Field Expo

Shreveport to host Ark La-Tex Oil Field Expo

The Ark-La-Tex Oil Field Expo will bring hundreds of qualified energy professionals together March 30-31 at the Shreveport Convention Center in Shreveport, La. Unlike other events, the Ark-La-Tex expo is free for people currently employed in the oil and gas industry. The industry-exclusive policy ensures maximum attendee relevance. Energy industry professionals can register for free admission on the event’s website. ...

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Hope springs from affordable housing shortage

UMH spa bath

Oil and gas prices ticked upward modestly in February. But months of cost-cutting measures among leading companies have led to waves of layoffs. And sadly, exorbitant rents and inflated home prices in oil-dependent communities have made it almost impossible for workers to wait out the next boom—leaving many scrambling to find more affordable housing. Yet the shortage in affordable housing ...

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Average gasoline price could break $2 threshold

Average gasoline price could break $2 threshold

The national average price for a gallon of gasoline may rise above $2 soon. A gallon of gas averaged $1.99 in the United States late Monday afternoon, according to GasBuddy.com. The average price has risen 5 cents in the past week. The average price for a gallon of gas in Houston was $1.84 on Monday afternoon, up 6 cents from ...

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