Oil price is in steady decline and may get to mid $40's. Natural gas has been in the dumps for a while. Does Chevron actually make a profit from Gorgon and Wheatstone? Looks like layoff numbers are more likely to increase than stay to whatever the... — read more
Weekly layoffs have become the norm at CNOOC's Calgary, Alberta office. Rumour is that these will occur well in to December. A&D departments from various E&P's in Calgary have confirmed that a data room containing what is clearly Nexen's Canadian... — read more
Ron Bailey was laid off from CNOOC Nexen this week. Big changes are on the way, including the sale of Long Lake. Nexen's plans for LNG have also failed to materialize meanings the billions spent in the Horn River, Liard and Cordova basins have... — read more
Talk about robotic. Could have just sent an email rather than showcase his reading aloud skills.
Things are much better at CNOOC, we'll see what 2018 brings. Assuming the price of oil stabilizes at around $50, we'll be fine.
Given that Chevron has yet to make any money playing shale, why does management think the same behavior will give different results in future? https://oilprice.com/Energy/Energy-General/Shale-Pioneer-Fracking-is-an-Unmitigated-Disaster.html
CNOOC is the major national oil company in China - they also have presence here in the states but not that much. They do not lay people off, typically.