Chevron, job, cuts

Of the positions that will be eliminated 950 are in the Houston, where Chevron has about 8,000 employees.

Santos, GLNG

The Santos-operated GLNG project is set to be the second project to commercialize CSG to LNG in Queensland, behind the BG Group-led QCLNG project. 

BP CEO Bob Dudley said company is less likely to be acquired, “and it is certainly not our intention” to sell, after $18.7 billion Gulf of Mexico settlement, Reuters reported.

Korean vessel makers are racking up debt and could show billions of dollars in losses when they report earnings.

Oil and gas majors have slashed capex budgets between 10% and 15% this year in response to oil prices halving over the past year.

The jackup rig renter cut 15% of workforce, or 324 jobs, in November. More than two-thirds of the holders of its outstanding debt support imminent bankruptcy protection filing, Reuters said. 

Mexico’s energy ministry came up with a figure of lost offshore oil output almost 3x higher than Pemex’s, Bloomberg said. An April 1 blast affected the Abkatun fixed platform.

proppant, frack sand, consolidation, PacWest, IHS, Samir Nangia

The top 10 frack sand suppliers claim 55% of total business, while more than 40 companies make up the remaining percentage.

The union is fighting plans by Petrobras to sell $15.1 billion of assets by the end of 2016.

KPMG, oilfield service, operators, producers, efficiency

An improved relationship could lead to greater cost savings with both earning higher margins.

Iran, oil, gas, sanctions, projects

Iran's deputy oil minister for commerce and international affairs, Hossein Zamaninia, said Tehran had identified nearly 50 oil and gas projects worth $185 billion that it hoped to sign by 2020. OPEC-member Iran has the world's largest gas reserves and is fourth on the global list of top oil reserves holders.

Snyder, Texas-based Patterson-UTI said its margins were improving and its U.S. rig count was stabilizing, while Calgary-based Precision Drilling said it expected its market share to improve due to demand for high-tech rigs.

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