Shell Midstream Partners' (SHLX) revenue in the third quarter took a $10 million hit during the U.S. Gulf of Mexico storm season and is expected cause further financial damage through the end of the year, company executives said on Friday.
Democratic presidential nominee Joe Biden, seeking to allay concerns that his plan to fight climate change would harm the economy, has promised a clean energy revolution that creates millions of unionized middle-class jobs if he's elected.
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand. Exxon Mobil Corp (XOM) said it will cut its workforce by 15%, or about 14,000 people, along with oil majors Chevron Corp (CVX) and Royal Dutch Shell Plc.
- Chevron Corp (CVX) will lay off about 25% of Noble Energy's employees who joined the oil major after its $4.1 billion purchase of the smaller rival earlier this month, the company told Reuters on Tuesday. A collapse in crude oil prices has forced most oil and gas producers to drastically cut costs by laying off thousands of employees and cutting down on drilling.
Hurricane Zeta edged towards Mexico's Caribbean coast late on Monday, with strong winds and heavy rain lashing the tourist region, the U.S. National Hurricane Center said. Zeta was blowing winds of some 80 miles per hour and was only about 25 miles from the east coast of Mexico's Yucatan peninsula, home to famed holiday getaways such as Cancun, Tulum and Playa del Carmen, NHC said.
BHP Group Ltd (BHP) is evacuating non-essential workers from the Shenzi and Neptune offshore production platforms in the U.S.-regulated northern Gulf of Mexico ahead of Tropical Storm Zeta, a company spokeswoman said on Monday. "BHP is in the process of evacuating non-essential personnel from Shenzi and Neptune," said spokeswoman Judy Dane.
Tropical storm Zeta is expected to hit Mexico's Yucatan Peninsula with dangerous storm surge and hurricane conditions late on Monday before barrelling toward the U.S. Gulf coast, the U.S. National Hurricane Center said.
* Union went on strike over a deal for onshore workers. * Concerns linger as oil firms to expand remote operations. * Aker BP (DETNF), Equinor (EQNR) plan more remotely-controlled platforms. By Nerijus Adomaitis.
The U.S. shale industry will continue to shrink, but energy companies will emerge from the COVID-19 pandemic downturn stronger, Halliburton's Chief Executive Jeff Miller told investors on Monday.
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