BP Work Model to Affect Roughly 25,000 Employees

A new workforce arrangement for thousands of BP (NYSE: BP) employees proved to be popular topic this past week among Rigzone’s downstream-focused audience. Learn more about the model, along with other topics that garnered a healthy number of page views, in this review of some of the week’s top downstream-related articles on Rigzone.

BP Staff to Work from Home 2 Days Per Week

Working remotely has become particularly commonplace in the COVID-19 era, and BP has unveiled a new program that blends remote work with the more traditional office-based arrangement. Meant for staff who had been office-based before the pandemic, BP’s “60:40 split” hybrid model calls on employees to work three days a week in the office and the remaining two days at home. The company noted the new model will affect approximately 25,000 employees.

USA Sells 10+ Million Barrels of SPR Oil

A recent crude oil sale from the United States’ Strategic Petroleum Reserve (SPR) yielded contracts for a total of 10.1 million barrels to seven entities, according to the U.S. Department of Energy’s Office of Fossil Energy. The Energy Department pointed out that 10 companies submitted 60 bids for the sale, which it announced on February 11. Storing crude oil in underground salt caverns at four U.S. Gulf Coast sites, the SPR is the world’s largest such emergency crude stockpile with 714-million-barrels of authorized capacity.

Oil Sands Give OPEC a Boost

Planned maintenance at oil sands facilities in Alberta will result in the idling of approximately 450,000 barrels per day of production next month, Bloomberg reported recently. The upcoming work at Canadian Natural Resources Ltd. (NYSE: CNQ), Suncor Energy, Inc. (NYSE: SU), and Syncrude Canada Ltd. sites could add upward pressure to oil prices, the news agency pointed out. In addition, it stated the maintenance could support ongoing efforts by the Saudi-led OPEC+ major producers’ alliance to balance the oil market.

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