UK oilfield services provider Petrofac has confirmed it is planning staff reductions and furloughing as part of its action to save cash in response to low oil prices and COVID-19 pandemic.Reuters last week reported that Petrofac was planning to reduce the workforce by 20%…
Jersey Oil & Gas (JOG), a UK Continental Shelf focused oil company has appointed Chris Haynes, as a Board Advisor to the company.Haynes is a non-executive director of Australia-based Woodside Petroleum Limited and Worley Limited. 'Chris has…
Dutch geotechnical survey firm Fugro has announced a set of 'painful measures' including workforce cuts, and a hiring and salary freeze, as the company expects the COVID-19 pandemic and low oil prices to negatively impact its business.'The company…
PetroVietnam's net profit in the first quarter of this year likely fell 50.8% from a year earlier to 4.44 trillion dong ($188.5 million) due to low oil prices and weak demand due to the new coronavirus, Vietnam's state oil firm said on Sunday…
Norwegian offshore engineering company Head Energy has made a new addition to its EPCIC Engineering Division. EPCIC stands for Engineering, Procurement, Construction, Installation & Commissioning.Head Energy said Friday that Oskar Leirgulen had joined the division as operations manager…
Tullow Oil's lenders have approved the size of its reserves-based lending facility at $1.9 billion, giving the group $700 million of undrawn loans and cash at the start of the second quarter, it said on Friday.The company also said it was cutting its 2020 capital expenditure to $300 million…
Nigeria-focused oil company Lekoil has said it will reduce workforce numbers as part of the 'immediate and accelerated' implementation of the company's general and administrative ('G&A') cost reduction measures. 'These measures are targeting an annual reduction of US$8…
Oilfield services provider Petrofac is launching a redundancy programme that it expects will end up reducing staff numbers by 20% as it seeks to cope with plunging oil prices, according to a source and an internal email seen by Reuters.The Britain-based company…
UK oil and gas industry regulator Oil and gas Authority (OGA) has informed that Andy Samuel will remain its CEO for an additional period of two years.Samuel's term extension at the helm of OGA has been confirmed by the Secretary of State for Business…
Nigeria’s Department of Petroleum Resources ordered oil and gas companies on Thursday to reduce their workforce and practice social distancing, tightening measures to stem the spread of the coronavirus.'All operators and their contractors are…
Rovco, a provider of remotely operating vehicles (ROV), has announced several key executive teams hires and internal appointments, including a new CFO and CTO.Reena Rowan has been appointed as Chief Financial Officer at Rovco, having previously…
Norwegian offshore engineering and construction company Aker Solutions laid off 400 employees in Norway and 250 employees in the UK, as per April 1, and it might need to lay off up to 6000 employees in Norway. The company has said the layoffs are temporary…
UK North Sea-focused oil company Repsol Sinopec Resources UK Limited has appointed Jose Luis Muñoz as its Chief Executive Officer, effective April 1, 2020.Muñoz replaces Bill Dunnett, who had been in the CEO since 2015. Repsol Sinopec said Dunnett…
Oilfield services provider Schlumberger on Tuesday said it will implement widespread salary and job cuts as it grapples with a sharp decline in revenue from the oil price collapse.Oil prices have plunged by more than 60% since the start of the year…
Norway-based offshore oil and gas installation company Ocean Installer has appointed Ingrid Due-Gundersen as new Chief Financial Officer.Due-Gundersen has worked for international shipping company Leif Höegh & Co her whole career. She joined…
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