Retrenchment by Oil & Gas Companies (as of Nov 2015)

[krafty]

Retrenchment by Oil & Gas Companies (As of November 2015)

Job cut by International Oil and Gas Companies

1)FMC - 2000
2)Halliburton - 6000
3)Baker Hughes - 7000
4)MH Wirth -750
5)Weatherford - 8000
6)BP - 300
7)Chevron - 160
8)Schlumberger - 9000
9)Technip - 6000
10)Statoil - 1500
11)Aker Solution - 200
12)Talisman - 300
13)Apache - 250
14)SBM - 1200
15)Subsea 7 - 2500
16) Royal Dutch Shell - 7000
17)National Oilwell Varco - 2400

Job Cut by local (Malaysia) Oil and Gas Companies

1)SBM Malaysia - VSS
2)TH Heavy Engineering - VSS (let go 1/3 of workforce)
3)Petrofac-RNZ - VSS (100)
4)Petronas Carigali - Salary Cut
5)MMHE - 2000 (updated)
6)Bumi Armada - 155
7)Shell Malaysia - 1300 in 2 years
8)Exxonmobil Malaysia - 320
9)Technip Malaysia - 600
10)Ranhill WorleyParson - 120
11)Murphy Oil - 80

On top of this, below companies also made cut

12)Aker Solution - VSS & MSS
13)Petrofac PML - 90
14)Lundin - ?

It is estimated that at least 2000 people are out of jobs now from Malaysia Oil & Gas industry.

http://www.poweroilandgas.com/2015/12/retrenchment-by-oil-gas-companies-as-of.html

 

[frenchbriefs]

time to invest in oil,there is no way they can keep oil low for so long,its hurting so many countries and economies,singapore,russia,opec countries even USA is hurting from low oil prices,the world need high oil prices in order to function.the price fixing will come sooner or later,soon OPEC will cave in and start allocating production quotas........oil will be back to $110 a barrel.

 

[krafty]

Singapore's O&M sector could take a hit amid falling oil prices: Analysts

Analysts have said that as long as oil production from the region continues at current levels, the decline in oil prices looks set to continue in coming months. UOB, for instance, said oil may trade lower at US$30-35 a barrel in 2016, down from current levels of around US$35. Reasons for the decline included high production levels that have led to growing inventories in countries like the US.

http://www.channelnewsasia.com/news/business/singapore/singapore-s-o-m-sector/2401072.html

 

[lifeafter41]

Retrenchment by Oil & Gas Companies (As of November 2015)

Job cut by International Oil and Gas Companies

1)FMC - 2000
2)Halliburton - 6000
3)Baker Hughes - 7000
4)MH Wirth -750
5)Weatherford - 8000
6)BP - 300
7)Chevron - 160
8)Schlumberger - 9000
9)Technip - 6000
10)Statoil - 1500
11)Aker Solution - 200
12)Talisman - 300
13)Apache - 250
14)SBM - 1200
15)Subsea 7 - 2500
16) Royal Dutch Shell - 7000
17)National Oilwell Varco - 2400

Job Cut by local (Malaysia) Oil and Gas Companies

1)SBM Malaysia - VSS
2)TH Heavy Engineering - VSS (let go 1/3 of workforce)
3)Petrofac-RNZ - VSS (100)
4)Petronas Carigali - Salary Cut
5)MMHE - 2000 (updated)
6)Bumi Armada - 155
7)Shell Malaysia - 1300 in 2 years
8)Exxonmobil Malaysia - 320
9)Technip Malaysia - 600
10)Ranhill WorleyParson - 120
11)Murphy Oil - 80

On top of this, below companies also made cut

12)Aker Solution - VSS & MSS
13)Petrofac PML - 90
14)Lundin - ?

It is estimated that at least 2000 people are out of jobs now from Malaysia Oil & Gas industry.

http://www.poweroilandgas.com/2015/12/retrenchment-by-oil-gas-companies-as-of.html

Any update on O and G from Singapore

 

[Froggy]

Retrenchment by Oil & Gas Companies (As of November 2015)

Job cut by International Oil and Gas Companies

1)FMC - 2000
2)Halliburton - 6000
3)Baker Hughes - 7000
4)MH Wirth -750
5)Weatherford - 8000
6)BP - 300
7)Chevron - 160
8)Schlumberger - 9000
9)Technip - 6000
10)Statoil - 1500
11)Aker Solution - 200
12)Talisman - 300
13)Apache - 250
14)SBM - 1200
15)Subsea 7 - 2500
16) Royal Dutch Shell - 7000
17)National Oilwell Varco - 2400

Job Cut by local (Malaysia) Oil and Gas Companies

1)SBM Malaysia - VSS
2)TH Heavy Engineering - VSS (let go 1/3 of workforce)
3)Petrofac-RNZ - VSS (100)
4)Petronas Carigali - Salary Cut
5)MMHE - 2000 (updated)
6)Bumi Armada - 155
7)Shell Malaysia - 1300 in 2 years
8)Exxonmobil Malaysia - 320
9)Technip Malaysia - 600
10)Ranhill WorleyParson - 120
11)Murphy Oil - 80

On top of this, below companies also made cut

12)Aker Solution - VSS & MSS
13)Petrofac PML - 90
14)Lundin - ?

It is estimated that at least 2000 people are out of jobs now from Malaysia Oil & Gas industry.

http://www.poweroilandgas.com/2015/12/retrenchment-by-oil-gas-companies-as-of.html

This is a natural evolution of this industry. Those who have to leave should be ale ot find better opportunities elsewhere