Exxon USA Headcount Set to Grow Smaller
Based on page views, Rigzone’s downstream readers showed particularly strong interest last week in a report about pending workforce reductions. Keep reading to learn more about the anticipated job cuts, along with other popular recent downstream-related articles on Rigzone.
Exxon Prepares to Cull White Collar USA Jobs
Exxon Mobil Corp. (NYSE: XOM) could reduce its U.S. office-based workforce by up to 10% within the next five years, according to this article from Bloomberg. Citing unnamed sources, the news agency stated the company is targeting its lowest-performing employees and will thus not frame the reductions as layoffs. Furthermore, the article states that evaluations are underway and affected employees have not yet learned their fate. A 2020 company filing showed that the U.S. accounts for approximately 40% of ExxonMobil’s 72,000-strong global workforce, Bloomberg also notes.
USA Oil Prices Close Gap to Brent
For the first time in years, the Brent and West Texas Intermediate (WTI) oil benchmarks are heading toward parity, Bloomberg has reported. Often cheaper than Brent, the WTI has become more expensive as U.S. oil producers continue to show discipline and inventories of domestic crude steadily decline, the news agency explained. The article goes to say, however, that the likelihood of Brent and WTI actually intersecting may be limited given signs of a rise in U.S. oil production.
$510MM Middle East Contract Goes to Saipem
A unit of Abu Dhabi National Oil Co. (ADNOC) is expanding its sour gas plant, and it has named Saipem the winner of a competitive tender to oversee the project’s engineering, procurement, and construction. The project will expand ADNOC Sour Gas’ Shah Sour Gas Plant’s capacity by 13% and enable the facility to increase recovery of higher-end products, according to the client company’s CEO. The plant upgrade’s projected completion is 2023.
To contact the author, email mveazey@rigzone.com.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Brand Finance Ranks Most Valuable, Strongest Oil and Gas Brands
- Canacol Makes New Gas Discovery in Colombia's Magdalena Basin
- FortisBC Denies Gas Greenwashing as Suit Awaits
- Oil and Gas Executives Predict WTI Oil Price
- Egypt Plans to Meet Summer Fuel Needs with LNG Imports
- Credit Agricole Helps NGP Secure Funds for Fishery-Solar Projects in Taiwan
- Centcom Outlines Latest Red Sea Moves
- Industry Protests Proposed Methane Fee Guidelines for O&G Facilities in US
- Exxon, Cnooc Merge Guyana Arbitration Claims Against Chevron
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- Blockchain Demands Attention in Oil and Gas
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- USA Oil and Gas Job Figures Jump
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension