TOPICS OF INTEREST
US Job Numbers Up for OFS and Equipment Industry, But Outlook Remains Unclear
The increase in OFS and equipment sector jobs over the past 2 months came amid higher oil and gas production. But increases in COVID-19 cases are causing uncertainty about when and how much demand will rise.
ExxonMobil and Chevron Confirm More Downsizing
The two largest oil companies in the US are shedding thousands of employees and contractors to cope with a steep decline in demand.
Chevron To Cut Up to 15% of Global Workforce
Chevron is initiating its layoffs of up to 15% of its global workforce of 45,000 first announced in late May by asking employees to reapply for positions. It closed its $4.1-billion acquisition of Noble Energy this week in which it gained 2,200 employees.
Equinor To Cut 30% of E&P Staff, Shuts In Fields Due to Labor Strike
Equinor plans to cut its global exploration staff by 30% in the next 3 years and plans to drill 30–40 wells globally this year. Ongoing labor strikes have led to the operator shutting in four of its platforms.
Shell To Shed More Than 10% of Staff as Part of Net-Zero Restructuring Push
Shell's CEO said the Dutch supermajor has "too many layers" and that the move to downsize will help ensure its future. As a result, at least 9,000 people are expected to leave the oil and gas producer between now and 2022.
ExxonMobil Weighs Global Job Cuts After Unveiling Australian Layoff Plan
Company cites COVID-19-driven decline in fuel demand in move following announcement of Australian layoff plan as latest cost-cutting measure.
The End Is Near for the Oil-Demand Surge
The V-shaped recovery for oil demand is likely to end up looking lopsided. The recent rapid rise in consumption is expected to stop before it gets back to the peak seen earlier this year.
Equinor Taps Its First Petroleum Engineer To Become CEO In November
He started in the oil and gas business running logs in the 1990s and by the end of the decade became a petroleum engineer at Equinor. Now, he is set to take over the company’s top position.
Cybersecurity: Preventing Infection in a Body of Data
The oil and gas industry is increasingly characterized by complex connectivity, but our digital dependency brings a new realm of cyber risks. Are we cyber-ready?
Equinor Names Potential CEO Successors
Four Equinor insiders are short-listed to succeed the current chief executive who is expected to step down from the Norwegian oil and gas company later this year.
BP To Sell Petrochemicals Business for $5 Billion
The deal includes 15 global sites and over 1,700 staff expected to transfer to INEOS upon completion of the sale. The deal also follows BP’s announcement earlier in the month that it would cut 14% of its workforce.
Carnage Continues To Curtail Oilfield Services Sector
US oil and gas job losses due to pandemic-related demand destruction amount to 84,000—that’s 105,000 jobs year to date.
New Chief Executive Appointed To Run Malaysia’s Petronas
The leadership change comes amid a downturn in global crude prices which has lowered the national oil company’s revenues this year. Taking over the position will be the current chief financial officer.
BP To Cut 14% of Workforce
The supermajor will cut 10,000 jobs by year end.
Schlumberger To Restructure Business Units
Schlumberger plans to restructure by focusing on basins and divisions in line with customers’ E&P workflows.
Leaders on Leaders: Advice on Surviving the Storm From SPE’s Top Volunteers
The reality is that those working in the oil and gas industry are facing the toughest challenges seen in a generation. Aside from higher prices, one of the only things that will make it easier is good leadership.
ConocoPhillips to Voluntarily Cut Production, Reduce Cash Uses; Weatherford to Delist from NYSE
Financial Fallout: For two big companies, tougher times call for tougher actions.
After a Close Look at Its Oilfield Business, Baker Hughes Working on Cost Cuts
The firm said it will be “restructuring” to “right size its operations” for a slowing market without mentioning how that will affect its workforce. It also says its two major lines of business are worth less than previously estimated.
SPE Discounts OnePetro Papers, Offers Support for Learning and Job Transitions
As SPE members deal with challenging and uncertain times, they are reminded that there are a number of programs available to provide support and key resources. Read more to see which ones are useful to you and your career.
Further Cuts Announced Due to Low Oil Price, Supply/Demand Imbalance
ExxonMobil and Halliburton made additional cuts in spending and personnel.
Upstream Digitalization Is Proving Itself in the Real World
For the upstream industry, where improvement in efficiency or production can drive significant financial results, there is no question that the size of the digital prize is huge. So are the challenges.
Global Upstream Industry Moves Into Survival Mode
As the fallout deepens from the coronavirus pandemic and the global collapse in oil and gas prices, oil- and gas-producing regions around the world are feeling the pain.
Halliburton Issues Mandatory Furloughs at Headquarters
The world’s second-largest service firm has seen its share price tumble by 75% as a result of the COVID-19 pandemic and a brutal price war. Workers at Halliburton’s main campus are among the first to feel the impacts.
2020 Will Be Year of New Directions and Complex Choices for Oil and Gas Industry
Amid weakening confidence and volatile market conditions, greater efficiencies and decarbonization are at the center of the industry’s agenda.
Berry to Succeed Shale Pioneer Hamm as CEO of Continental Resources
Hamm, who has served as CEO since founding Continental in 1967, will become executive chairman effective 1 January.
SPE Talks To: Yogashri Pradhan
In this episode, we discuss how to market yourself and grow your career.
Wallace Appointed CEO of Israel’s Delek Group
The succession at the top role comes amid the independent’s expansion beyond the Eastern Med, with recent acquisitions of North Sea and US Gulf of Mexico assets.
SPE Talks To: Nathan Meehan
Is this the end of petroleum engineering as we know it? 2016 SPE President Nathan Meehan dives into the question on the new SPE Podcast.
Looney To Succeed Dudley as BP CEO
Dudley’s retirement will end an almost decade-long tenure in which he oversaw the company through the aftermath of the Macondo disaster and a generational oil-price slump.
Women in Energy Share Tips, Tricks, and Wisdom at Inaugural Meeting
The real challenge of attracting and retaining women to the industry is unrelated to gender.
Built on Several New Tools, Marathon’s Digital Oilfield is Maturing
Marathon Oil says its shale fields are producing more oil and gas with less hands-on work from company personnel thanks to a growing arsenal of digital technologies and workflows.
Idle Drilling Rigs Actually Require a Lot of Work
When a rig is stacked, its owner has two choices: spend millions to keep it in good shape, or let it rust out. These two companies describe what it is like to maintain their assets for the day that a contract comes.
Aramco Hires More Women in March Toward Gender Diversity
The world’s largest oil company says it has doubled the number of women working for it in the last decade and is spearheading a number of initiatives to grow the trend.
New Hires: Bridging the Gap Between Academics and Needs in the Oil Field
An ATCE special session featured a range of perspectives on the importance of training beyond academic education in preparing new industry hires to develop long-term, sustainable careers.
Better Safety Performance Measures Can Lead to Change by Improving Conversations
This paper examines the use of injury rates as a key performance indicator (KPI). It argues that, as a KPI, injury-frequency rate is no longer a valid measure.</p>
Growth in Offshore Activity Could Lead to Recruitment Boom
The past years’ stable workforce levels in the upstream petroleum industry—balanced by increases in shale workers and decreases in offshore workers—are set to shift with a boost in offshore projects, one research firm says.
Someday Soon, a Computer Will Do the Report for the Morning Meeting
When the drilling crew arrives for the morning meeting, the computer will have generated its daily operations report.
How ConocoPhillips Solved its Big Data Problem
Unconventional operators are finally beginning to use to their advantage the nearly endless stream of data they’ve collected over the years. ConocoPhillips explains how it has seen real improvements in its operations by removing data friction and opening up access across typical work silos.
Another View: People Strategies Need To Keep Up With Rapid Digitalization
The world is digitalizing all around us. Within the energy sector, the lower-price environment since 2014 has increased the pace of change and the scope of digital integration. But, are you bringing your people strategy along?
Company’s Integrated Approach Tackles Fatigue Management
This paper describes the integrated approach taken by Petronas to reinforce effective management of fatigue.
It’s Official: GE, Baker Hughes Complete Merger
The merger of industrial giant GE and oilfield services firm Baker Hughes closed on 3 July, creating the second-largest oil field services firm in the world.
After Years, ‘Big Crew Change’ Has Passed, But Learning, Training Challenges Remain
While the industry grappled with the disruptions caused by collapsing oil prices, the long-awaited “big crew change” took place almost unnoticed. But some of its challenges remain.
Are You Ready for the Oilfield Recovery?
Companies need effective talent acquisition and retention programs to succeed in the pending economic recovery.
OTC 2017: Where to Find the Best Networking Opportunities and Emerging Technologies
Before you head to OTC 2017, make plans for the event’s best opportunities for professional networking and to learn about the array of new technologies pushing their way into the business.
Schlumberger: New Automated Hydraulic Fracturing Tech Trims Time and Workforce Requirements
A new spread of stimulation equipment from the world’s largest service company demonstrates the latest significant step to creating a more automated oilfield.
Salary Survey: Annual Survey Shows Declining Industry Salaries
Petroleum industry professionals reported an average calculated total compensation of USD 185,001 in 2016, less than reported in previous years, according to the latest annual SPE Salary Survey.
A New Reality for Training and Safety Technology
Virtual reality technology has become a powerful training tool for companies looking to recreate real-life, on-the-job oil industry scenarios.
Upgrading Soft Skills During Boom and Bust Business Cycles
Given the cyclical nature of the industry, how might individuals and companies prepare for a potential re-emergence of the boom cycle? This article emphasizes the importance of soft skills in navigating the effects of systems and structures on human patterns of behavior.
Guest Editorial: How To Thrive in a Downturn
The industry is in one of its periodic downturns. Jobs are uncertain or scarce. Profitability is challenged. Bankruptcy looms. Projects are being canceled. Deals are dropped or delayed. It seems there is bad news everywhere. So how do we survive in this environment?
So Many Jobs Have Been Cut It Is Hard To Count Them All
The impact on workers from the global downturn is so large it is difficult to track. At the high end of the job loss estimates is John Graves, owner of Graves & Co., who estimated the number of jobs lost in the oil and gas industry at more than 250,000 at year end, and rising.
Talent & Technology: Royal Dutch Shell’s Journey to Strategic Competence Management
Shell undertook a 5-year program to address some of the universal challenges of competence management along with several internal improvement opportunities. The result has been the global implementation of a strategic solution that fundamentally reshaped how competence is managed within the company.
From Air to Sea: Introducing Crew Resource Management to the Offshore Industry
Despite a number of recent and high-profile jetliner crashes, commercial aviation has entered into a new era of safety. There is a lot the oil and gas industry can learn from their success.
Annual SPE Salary Survey: Petroleum Industry Salaries Fall in 2015
In SPE's annual salary survey, average total compensation dropped back to 2013 levels after an increase last year. Nonetheless, more than half of respondents reported that their base pay increased in 2015.
Reducing Time to Autonomy for Technical Staff
This paper describes Royal Dutch Shell’s approach to developing the pipeline of technical professionals.
Technical Master Class: A New Approach to Knowledge Transfer
Technical master classes (TMCs) are a new training concept designed to accelerate building expertise among geoscience, engineering, and commercial professionals.
Hands-On Teaching for Petroleum Engineers in the Twenty-First Century
This paper presents the results of student competitions held at Clausthal University of Technology.
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