Jobs

BP plc is reducing upstream staff globally from current levels of 24,000 to below 20,000 by the end of 2017, the oil major said Tuesday. U.S. operations would be affected.

During 2014, the oil and natural gas industry in Colorado accounted for $31.7 billion in overall economic impact, including 102,700 jobs worth $7.6 billion in compensation, according to a University of Colorado (UC) study released Tuesday.

U.S. energy sector bankruptcies reached levels during the final three months of this year last seen in the Great Recession, as the financial toll from lower commodity prices squeezed oil and natural gas producers, according to the Federal Reserve Bank of Dallas (Fed).

The Obama administration’s proposal to allow limited offshore natural gas and oil drilling in the Mid- and South Atlantic area, now under fire by some coastal communities and legislators, is facing more scrutiny after a study challenged industry claims that drilling would be a boon to the region.

A unit of Royal Dutch Shell plc plans to begin construction early next year on a $717 million expansion at its Geismar campus in Ascension Parish, LA, which would make the site the largest alpha olefins (AO) producer in the world.

Every component of the Texas Petro Index (TPI) was down again in September — except for crude oil and natural gas production volumes. And the economist who compiles the TPI warned that industry job losses could be even greater than his previous estimates.

The U.S. mining/extraction industry, which includes the oil and gas sectors, had 104,700 fewer jobs in September than a year ago, the U.S. Department of Labor reported Friday.

Statoil SA, which controls a broad portfolio of onshore and offshore leaseholds in North America, is reducing its workforce again, adding on to an enormous reduction in the industry’s workforce since the start of the year. One major Canadian drilling group expects up to 25,000 industry drilling jobs to be gone by the end of the year, while another put direct and indirect job losses in Canada at close to 185,000.

Statoil SA, which controls a broad portfolio of onshore and offshore leaseholds in North America, is reducing its workforce again, adding on to an enormous reduction in the industry's workforce since the start of the year. One major Canadian drilling group expects up to 25,000 industry drilling jobs to be gone by the end of the year, while another put direct and indirect job losses in Canada at close to 185,000.