Three dozen refinery workers represented by Toledo, Ohio's local building trades union protested in front of their workplace in the city early Monday over BP's hiring of non-union contractors from Texas to perform their work.
PJ Solomon LP laid off staffers in its energy group due to the slowdown in acquisitions and divestitures stemming from the COVID-19 pandemic and sinking oil prices, the U.S. investment bank said on Friday. Oil and gas dealmaking has cratered this year as exploration companies focus on retaining cash amid low commodity prices and increased pressure from shareholders to boost returns.
Suncor Energy (SU), Canada's second-biggest oil company, said on Friday it would cut its workforce by up to 15% over the next year and a half, as pandemic travel restrictions crushed crude demand. The reductions will affect some 2,000 non-union jobs, said Scott Doherty, a spokesman for the Unifor union.
The U.S. Supreme Court on Friday agreed to hear an appeal by energy companies including BP PLC (BP), Chevron Corp (CVX), Exxon Mobil Corp (XOM) and Royal Dutch Shell PLC (RDS/A) contesting a lawsuit by the city of Baltimore seeking damages for the impact of global climate change.
* Oil prices post second weekly decline. * Concerns over U.S. stimulus package add to demand fears. * OPEC production rises, Libyan output ramps up. By Jessica Resnick-Ault.
By Christopher M. Matthews and Sarah McFarlane. Major oil companies signaled they remain under extreme financial pressure and oil prices slid Thursday as demand for fossil fuels rebounds slowly after being crushed by the coronavirus pandemic. Despite a modest economic recovery, oil-and-gas companies are being hammered by a sustained drop in consumption of gasoline and jet fuel as millions of people work from home and avoid driving and flying.
By Christopher M. Matthews and Sarah McFarlane. Major oil companies signaled they remain under extreme financial pressure and oil prices slid Thursday as demand for fossil fuels rebounds slowly after being crushed by the coronavirus pandemic. Despite a modest economic recovery, oil-and-gas companies are being hammered by a sustained drop in consumption of gasoline and jet fuel as millions of people work from home and avoid driving and flying.
Target Hospitality Corp. (TH), the largest provider of vertically-integrated specialty hospitality accommodations with premium catering and value-added hospitality services in the U.S., today is providing the following business updates as a result of continued positive trends in its core business.
Royal Dutch Shell PLC (RDS/A) said it would cut up to 9,000 jobs in a broad restructuring, as the energy giant grapples with the continuing fallout of the coronavirus pandemic. News of the cuts came Wednesday as the company warned it would report another set of poor earnings for the third quarter. Shell flagged a weaker performance in its trading activities-- previously a bright spot in an otherwise tough second quarter-- and said its oil-and-gas production business would report a second...
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