World Oil (Bloomberg) – Exxon Mobil Corp. expects to trim annual costs by about $2 billion as it integrates the $60 billion purchase of Pioneer Natural Resources Co., said Chief Executive Officer Darren Woods. About two-thirds of the savings will come from squeezing more oil out of the U.S. Permian basin via improved fracking methods and other technological improvements, Woods
World Oil (WO) — The United States added 838 jobs in September, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to August numbers and analysis by the Energy Workforce & Technology Council. While updated numbers only suggest a 0.1% increase in labor availability since August, the market has added jobs in seven out of the
BOE Report Canada’s TC Energy is cutting some jobs to “optimize value” a company spokesperson said on Tuesday, without giving details of how many positions have been impacted. News of the job cuts at TC Energy comes a week after Suncor Energy told employees it would eliminate 1,500 jobs. Earlier this year, Imperial Oil cut the number of contractors working at its Kearl oil sands project.
Nasdaq Canada’s second-biggest oil producer Suncor Energy Inc will cut 1,500 jobs by the end of this year, aiming to reduce costs and improve its financial performance, the Globe and Mail reported on Thursday, citing details from the Canadian Press. A Suncor spokeswoman confirmed to the Canadian Press that the job cuts would be spread across the organization and would affect both
World Oil (WO) — Employment in the U.S. oilfield services and equipment sector increased by 5,143 jobs to its highest level since March of 2020 to reach 662,454 in April, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to March numbers and analysis by the Energy Workforce & Technology Council. March adjusted number of 657,311
World Oil (WO) – Energy Workforce & Technology Council President Tim Tarpley released the following statement regarding President Biden’s fiscal 2024 budget proposal: “President Biden is again targeting America’s oil and gas producers in his fiscal 2024 budget proposal. This budget request if enacted, would increase American’s energy costs, and further deplete our nation’s energy security and that of
CNBC Oil prices fell on Friday in a volatile session, after strong U.S. jobs data raised concerns about higher interest rates and as investors sought more clarity on the imminent EU embargo on Russian refined products. Brent crude futures fell $1.98, or 2.4%, to $80.19 a barrel by 12:11 p.m. EST (1711 GMT), after rising to a session high of
World Oil (Bloomberg) — Monthly wage growth in the U.S. shale patch slowed to less than 1% in November as explorers pulled back activity to manage record costs in the oilfield. Average hourly earnings in oil and gas extraction for nonsupervisory workers were up 0.6% in November from the previous month to $42.19, according to Bureau of Labor Statistics data
World Oil (Bloomberg) — The short supply of labor in the US oil patch has plagued exploration and production companies all year, and the tightness continues. While the sector’s unemployment rate jumped to 3.1% in November from 0.8% in the prior month on an unadjusted basis, it’s still well below the long-term average, according to a Labor Department report released Friday. A
World Oil (Bloomberg) – Unemployment in the US oil industry plummeted to one of the lowest levels on record as shale explorers scramble for workers to keep production flowing. The jobless rate fell to 0.8% in October from 2.5% in the prior month on an unadjusted basis, government figures released Friday show. That compares with an unemployment rate of
World Oil Employment in the U.S. oilfield services, and equipment sector rose by an estimated 2,566 jobs to 640,767 in September, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to August numbers and analysis by the Energy Workforce & Technology Council (Energy Workforce). August adjusted number of 638,201 is down from the preliminary number of
Yahoo Finance The job market in the US shale patch is showing further tightness as drillers struggle to find enough workers to meet output targets this year, according to a Labor Department report released Friday. The unemployment rate fell to 2.5% in September from 2.6% in the prior month on an unadjusted basis, government figures show. That compares with
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