#oilandgas

Total us covering for a less then stellar operator.. Any doubts…google Alpine High. If Apache goes bankrupt before 1st oil Total stands to gain significant reserves.

Brilliant current outlook attribution APA insider.
Apache is stuck with the North Sea and the abandonment liability is going to make the GoA look like a picnic. There are wells in the North Sea that haven't had interventions in decades so good luck with those. The acreage in Permian is dying and they should have been ahead of the curve there but they were behind again trying to use AI instead of actual hard science. As far as Surinam goes ... good luck making it long enough to see first oil. Total knows how bad off APA is and if you think it takes this long to get an FPSO on station then you haven't been paying attention to Guyana. They are just waiting for the demise and the forfeiture of the $5bln carry.

Simply the executive team and APA is a joke.

Please share your perspective on the Bumerangue discovery. The timing could not have been more coincidentally suspicious. Does the field have high CO2? That would jeopardize development? Estimated development cost and what would a Shell or Exxon think in the event of BP acquisition?

From Christine Guerrero's twitter: Check on your friends in oil & gas. Many aren’t doing well. This from a friend at BP today.

https://x.com/SheDrills/status/1969053712514494535

The stricter RTO is just part of it. Eternal reorganization, months of uncertainty about what’s coming for each of us - that’s another layer. Teams are in chaos, handling workloads meant for far more people. Managers seem completely oblivious to anxious, restless, overworked, burnt-out employees. It’s all either by design or sheer disregard for the workforce. Either way, it might come back to bite them, as the best people are always the first to leave.

CVE is run by arrogant corporate snakes. They are making money hand over fist. They don’t need to layoff. Employees are a necessary evil until they’ve used you for what they need. Everyone is out for themselves at CVE - they don’t trust you and you can’t trust them. Laying off a bunch of hard working people and arrogantly saying you will just “do less”. I’ve never seen such id--tic things. Is this company real or a nightmare? #USW #Strike #2026

There have been few to any Chevron layoffs since announcing…is the objective to farm fear from staff? In Houston not seeing housing price decreases yet…

For the last 3 years Phillips 66 has been undergoing what Go Go calls Business Transformation. "Transformation" has basically consisted of laying off a few employees at a time once or twice a year and vague promise that things are going to improve in some future year.
The objective of this transformation was to unlock value in the stock price to bring it more in line with our 2 main peers. It has failed miserably at this goal, as of today our stock price is $30 dollars and $50 dollars lower than our 2 main peers stock price.

What’s with the rumours of upcoming announcements on either Sept 29 or Oct 1? The amount of layoffs, sell off, rumours is nuts.

Exxon Mobil on Tuesday is selling more of its assets in the North Dakota Williston Basin to oil and gas producer Chord Energy for $550 million, as the major continues to high-grade its unconventional asset portfolio.

https://www.energyintel.com/00000199-53be-d51a-a79d-5bfe58b30000

The world needs to spend some $540 billion a year looking for oil and gas to maintain current output by 2050 as the pace of declines in existing fields increases, according to the International Energy Agency.

https://www.rigzone.com/news/wire/iea_says_world_must_spend_540b_a_year_looking_for_oil_gas-16-sep-2025-181814-article/

Is CRC an oil company or an investment bank? CRC only acquires reserves. I never see CRC making large oil discoveries like traditional upstream oil and gas companies. It appears there is an acquisition arm, and then there is an arm that squeezes every dime out of the process. But there is no traditional growth through exploration.

When is quarry park to be sold?

The number of U.S. rigs in operation has fallen this year, by around 69 to 414, according to Baker Hughes. Kirk Edwards, the president of Texas-based Latigo Petroleum, said, “We've gone from ‘drill, baby, drill' to 'wait, baby wait’ here in the Permian.” Many U.S. producers are waiting for oil prices to increase before they raise production, requiring between $70 and $75 a barrel to put rigs back into operation.

The decision to cut spending by many U.S. oil and gas majors, which follows a post-pandemic era of megamergers and high spending, has resulted in widespread job cuts. As OPEC+ looks to increase production in the coming months, we can expect the low oil price trend to continue, likely resulting in low profits for several U.S. companies, and cautious spending plans are expected for the coming months.

https://oilprice.com/Energy/Crude-Oil/US-Oil-Majors-Slash-Jobs-Despite-Trumps-Fossil-Fuel-Push.html

Has the Esso France change in control happened yet? Waiting for the outcome to see which European asset to strip next?

Don’t let them fool you, Halliburton will be sold soon. Leadership will get wiped clean. It’s the only way. Worse leadership imaginable. Completely out of touch with hard working people that actually run the industry. Tell your white collar leadership to work on the well head, and earn their stripes like the rest of us.

Anyone else find it interesting that LS made no mention of OFSE, CCUS, etc… All I heard was that we are positioning ourselves to not feel the pressure of the oil market…

What business units are still running in Bakersfield? Is ALS still in business in Bako?

ExxonMobil (XOM) stock is trading lower on Friday after reports indicating the company plans to sell parts of its European chemical business. The industry struggles with U.S. tariffs, high energy costs, and growing competition from China.

The company has been steadily reducing its European footprint, often clashing with Brussels over regulatory policies, which it argues inflate energy costs and scare off investors.

The company already agreed to sell its French chemical operations and controlling stake in Esso SAF to Canadian retailer North Atlantic’s French unit.

The U.S. petrochemical producer has held early talks with advisers about divestments that could bring in up to $1 billion, Financial Times reported on Thursday, citing unnamed sources familiar with the matter.

Exxon is weighing sales of its plants in the U.K. and Belgium, including an ethylene facility in Fife, Scotland, and several Belgian production sites.

Benzinga reached out to ExxonMobil’s investor relations for comment on the story and is awaiting a response.

Executives also discussed shutting the plants entirely if buyers do not emerge.

Exxon stressed to the FT that a deal is not particular. However, the report highlights Western chemical makers’ challenges, including overcapacity, weaker demand, and low-cost Chinese exports, which are squeezing margins.

U.S. producers remain shielded by President Donald Trump’s planned 15% tariff on European chemical imports, which adds pressure on European rivals.

Other global players, including LyondellBasell (LYB) , are also scaling back in Europe.

Exxon Mobil stock gained just over 2% year-to-date. It failed to reach revenue consensus estimates in at least two of the last three quarters (or the fourth quarter of 2024 and the first quarter of 2025).

In August, Exxon Mobil reported second-quarter 2025 earnings of $7.1 billion, or $1.64 per share, beating analyst estimates of $1.47. Revenue reached $81.51 billion, above the $79.34 billion consensus.

The company delivered its strongest second-quarter upstream production since the Exxon-Mobil merger, pumping 4.6 million oil-equivalent barrels per day, a 13% jump from the first half of 2024. This was fueled by the Pioneer Natural Resources acquisition and record Permian Basin output.

Strategic projects advanced this quarter, including the Singapore Resid Upgrade, the Fawley Hydrofiner in the U.K., and Canada’s Strathcona Renewable Diesel project, all expected to add over $3 billion in earnings power by 2026.

https://www.benzinga.com/trading-ideas/movers/25/09/47528781/exxonmobil-faces-tough-choices-in-europe-as-competition-from-china-intensifies

Talks cover crude storage in Singapore, refining capacity, and trading co-operation

Staff Writer, Zawya Projects

Iraq’s State Oil Marketing Organisation (SOMO) is close to signing a preliminary agreement with ExxonMobil covering crude storage, refining, and trading in Asia, according to a report by state-owned Iraq News Agency (INA).

SOMO Director General Alaa Nizar Al-Shatri said the discussions focus on securing storage capacity in Singapore and other Asian locations, as well as potential cooperation on refining and profit-sharing in crude and product trading.

He described Asia as the fastest-growing hub for refining and demand, calling it a strategic priority for Iraq, which is already among the top three to four suppliers of crude oil to China.

Iraqi Prime Minister Mohammed Shia Al-Sudani confirmed Saturday that the government held talks to reactivate the Iraqi-Syrian export line and has already started to extend a pipe (Basra-Haditha) with a length of 685 kilometers, which is located in this direction.

Last week, SOMO had signed a memorandum of understanding with Oman’s OQ to develop a 10-million-barrel crude storage project at Ras Markaz near Duqm.

At the end of August, Iraq’s Oil Ministry signed agreements with U.S.-based Schlumberger and Chevron to advance oil and gas projects and said it is also making progress in talks with Kuwait on the joint development of cross-border fields.

In May 2025, a Zawya Projects report said SOMO is pursuing long-term partnerships with major refiners across Asia, Europe, the Americas, and several African markets.

(Writing by Majda Muhsen; Editing by Sona Nambiar and Anoop Menon)

https://www.zawya.com/projects/oil-and-gas/iraqs-somo-nears-storage-refining-deal-with-exxonmobil-in-asia-j6te89dc

For some reason, the ELT has never concentrated on achieving true excellence in the fundamentals of the traditional oil and gas business. By that, I mean the essentials: negotiating contracts with governments, identifying and fixing the root causes of exploration failures, and maximizing resource recovery with efficiency.

Instead, the focus has drifted toward chasing the latest “shiny object.” At one point, we branded ourselves as a technology company that just happened to operate in oil and gas. Then came waves of emphasis on digital, leading performance, competitive performance, AI, and now data centers. It often feels as if leadership is embarrassed by the industry itself and compelled to dress it up with fashionable labels.

Yet for all this rebranding, I have not seen a single truly transformative solution that changes how we run the business. If anything, we’ve simply repackaged what we already do into newly invented categories. Fundamentally, nothing has changed.

• Who Owns ConocoPhillips? Oil Giant to Axe Up to 3,250 Staff in Brutal Global Layoffs as Energy Crisis Bites

https://www.msn.com/en-gb/money/other/who-owns-conocophillips-oil-giant-to-axe-up-to-3-250-staff-in-brutal-global-layoffs-as-energy-crisis-bites/ar-AA1M0rAK

• ConocoPhillips will cut up to 3250 jobs worldwide by the end of 2025, slashing 20% to 25% of its global workforce in a sweeping restructuring plan.
  Company: ConocoPhillips
  Number of People Laid Off: 3250
  Published At: 09/06/2025 & 11:21 AM UTC
  Industry: Oil and gas

ConocoPhillips, one of the largest independent oil and gas companies in the United States, has announced plans to cut up to 3,250 jobs worldwide by the end of 2025. This represents between 20 and 25 percent of its global workforce. The company said the layoffs are part of a restructuring effort driven by falling crude oil prices, rising production costs, and broader economic pressures that have reduced profitability.

Headquartered in Houston, ConocoPhillips became a standalone upstream energy company in 2012 after spinning off its downstream operations into Phillips 66. The company is publicly traded, and ownership is spread across institutional investors, mutual funds, hedge funds, and individual shareholders — meaning no single entity controls it outright.

Leadership remains under CEO and Chairman Ryan Lance, who has held the role since 2012. During his tenure, the company has expanded through acquisitions, most recently completing a $22.5 billion purchase of Marathon Oil earlier this year. Despite this growth, the company is now moving aggressively to cut costs and reposition itself amid ongoing volatility in the global energy sector.

Halliburton reduces workforce as oil activity slumps, sources say
By Shariq Khan and Liz Hampton
September 5, 2025

DENVER, Sept 5 (Reuters) - U.S. oilfield services provider Halliburton (HAL.N), has been cutting staff in recent weeks, according to two sources familiar with the matter, marking the latest workforce reduction in the U.S. oil industry as it faces rising costs and a period of lower prices and volatility.
Global benchmark Brent crude oil prices have dropped more than 10% this year amid uncertainty over global trade policies and as the Organization of the Petroleum Exporting Countries and allies raise output. U.S. oil company ConocoPhillips this week announced it would cut up to 25% of its staff to reduce costs.

The scope of Halliburton's layoffs was not immediately clear.
Halliburton has rolled out the cuts over several weeks, according to the sources, who were directly involved in layoffs but not authorized to speak publicly. At least three business divisions had lost between 20% and 40% of employees, the sources said.
Halliburton, the third-largest global oilfield services company by revenue, did not respond to a request for comment.
Oilfield services companies provide technical expertise, equipment, and labor, including drilling, to support oil and gas exploration and production.
Houston, Texas-based Halliburton had 48,395 employees at the end of 2024, according to its latest annual report.
The company in June said it expected a sharp decline in full-year revenue, as it warned of lower activity in the oil and gas sector. It posted a 33% fall in second-quarter profit this year amid weaker demand.
On a conference call with analysts after reporting second-quarter earnings, CEO Jeff Miller noted the oilfield services market appeared very different than it did 90 days ago, citing a slowdown in North America and among large national oil companies elsewhere.
"To put it plainly, what I see tells me the oilfield services market will be softer than I previously expected over the short to medium term," he said.
Brent crude was trading below $66 on Friday, down nearly 20% from this year's peak north of $82 a barrel in mid-January, as investors braced for the OPEC+ group's meeting on Sunday. Reuters earlier reported the group will consider raising output further at that meeting.

Reporting by Liz Hampton in Denver and Shariq Khan in New York; Additional reporting by Arathy Somasekhar and Georgina McCartney in Houston Editing by Rod Nickel

https://www.reuters.com/business/world-at-work/halliburton-reduces-workforce-oil-activity-slumps-sources-say-2025-09-05/

Layoffs are spreading across industries, with energy companies hit especially hard. ConocoPhillips plans to cut up to 25% of its staff, or about 3,250 jobs. Chevron is preparing to eliminate as many as 9,000 positions this year. A glut of oil and weak demand outlooks have hurt margins. To preserve cash flow, firms are relying on large-scale cuts, leaving many workers vulnerable.

Tech firms show a very different picture. Profits are climbing, but headcounts are shrinking. Salesforce reported a 10% revenue increase to $10.2 billion and boosted buybacks by $20 billion, yet it cut 4,000 jobs. Oracle shares have jumped 33% this year, with sales hitting nearly $16 billion, but thousands of jobs have been cut in several states. Cisco also raised revenue to $14.7 billion but announced more layoffs, adding to the 5,000 cuts made last year.

Even the biggest names are following the same path. Microsoft brought in nearly $80 billion in sales and $27 billion in profit last quarter. Earnings rose 24% in the same period. Still, the company has let go of 15,000 workers this year. Across sectors, companies are chasing efficiency and stronger returns, while employees face growing insecurity.

https://finance.yahoo.com/news/record-profits-layoffs-wall-street-183153817.html

Source below:

Layoffs are making news across industries, with oil and gas hit hardest. ConocoPhillips will cut up to 25% of its staff, about 3,250 jobs. Chevron is preparing to shed up to 9,000 positions this year. Oversupply and weak demand have cut margins, and companies are cutting jobs to protect cash flow. The move may help balance the books but creates deep pain for workers.

Tech tells a different story. Companies are posting record profits yet still shrinking staff. Salesforce grew revenue by 10% to $10.2 billion and boosted buybacks by $20 billion but cut 4,000 jobs. Oracle shares are up 33% this year with sales rising to $16 billion, yet thousands of roles are gone in multiple states. Cisco also grew sales to $14.7 billion while announcing new cuts, following thousands of layoffs in 2024.

The trend is most striking among the biggest players. Microsoft posted nearly $80 billion in sales and $27 billion in net income. Profits and earnings per share rose 24%. Despite this, it has cut 15,000 jobs this year. Across industries, companies are chasing efficiency and higher returns while workers face mounting uncertainty.

https://finance.yahoo.com/news/record-profits-layoffs-wall-street-183153817.html

• ConocoPhillips to Begin Layoffs as Early as Nov. 10, Company Says in State Notice
• ConocoPhillips to slash up to 25% of its workforce - up to 3,200 jobs
  and many, many more

In these trying and uncertain times, strong, competent leadership is required at the top of P66. I respectfully submit that Go Go is not that leader. Or Tractor Man for that matter.

Shell ‘puts another nail in the coffin’ of sustainable jet fuel
Story by Jonathan Leake

Shell has abandoned plans to build a biofuels factory in the Netherlands, dealing a blow to Europe’s hopes of decarbonising the aviation industry.

The oil giant has scrapped the project after pausing work on the site last July, with a review concluding that the plant was too expensive and “insufficiently competitive”.

Under its proposals, the plant in Rotterdam was designed to be one of Europe’s biggest converters of waste into sustainable aviation fuel (SAF) and biodiesel.

The decision to axe construction will pose a significant challenge for Europe as it seeks to reduce the environmental impact of flying.

It also marks the latest step in Shell’s shift away from net zero, as the company scales back green investment to focus more on oil and gas.

Ashley Kelty, a leading analyst at Panmure Liberum, said it was “another nail in the ideological coffin for SAF and biofuels”.

He said: “It means that SAF is going to be more expensive, limited in supply and therefore difficult for airlines to justify using.”

The take-up of green jet fuel – which is produced from waste materials such as used cooking oil – has struggled in recent years amid faltering production, which has kept prices high.

Machteld de Haan, Shell’s downstream, renewables and energy solutions president, said: “As we evaluated market dynamics and the cost of completion, it became clear that the project would be insufficiently competitive to meet our customers’ need for affordable, low carbon products.

“This was a difficult decision, but the right one, as we prioritise our capital towards those projects that deliver both the needs of our customers and value for our shareholders.”

It marks a considerable turnaround for Shell, which only announced the biofuels project in 2021.

At the time, the company said it was transforming 14 oil refineries into five low-carbon energy sites to meet growing demand from the transport sector.

This formed part of a target to “reduce the production of traditional fuels by 55pc by 2030 and provide more low-carbon fuels such as biofuels for road transport and aviation, and hydrogen”.

However, these targets have been dashed as part of a pivot away from renewables, posing a problem for Europe’s airlines.

Aviation is the most climate‑intensive form of transport and its growth means its emissions have been growing faster than any other mode of transport.

Britain alone consumes about 11m tonnes of aviation fuel a year and emissions soared to 37m tonnes in 2024 – more than double the 16m tonnes seen in 1990.

That is set to grow even faster in the next two decades.

The UK Government has attempted to reverse this by ordering airlines to use 10pc of SAF by 2030.

However this requirement, also in effect across Europe, requires a network of refineries which are not yet materialising.

Shell’s decision to abandon the Rotterdam project is just the latest of several such schemes to fail.

In 2022, Boris Johnson – the prime minister at the time – announced a new policy known as “jet zero” to enforce a minimum threshold of green fuel use.

He also pledged the construction of a minimum of five new SAF plants, which have not been built.

It means the only company making SAF in the UK is the Phillips 66 refinery on Humberside in North Lincolnshire – and its output is just 20,000 tonnes a year.

That’s about 0.2pc of the 11 million tonnes of aviation fuel Britain consumes annually.

Despite the decision, Shell said it remained committed to a low-carbon future.

Ms de Haan said: “We continue to believe that low-carbon molecules, including biofuels, will underpin the future energy system. Shell is at the forefront of this industry and its development as one of the world’s largest traders and suppliers of biofuels, including SAF.” a Department for Transport spokesman said: “Sustainable aviation fuel (SAF) is a core part of the global drive to decarbonise aviation. SAF is already being produced and supplied at scale in the UK, and we are seeing encouraging early signs that the SAF Mandate will be met.”

https://www.msn.com/en-us/money/markets/shell-puts-another-nail-in-the-coffin-of-sustainable-jet-fuel

Halliburton just laid off several engineers at the Duncan Technology center 8/3/2025. No PSL was safe. The leadership at Halliburton has never and will never care about their employees.

Halliburton’s upper management motto is “faster & cheaper”

ConocoPhillips is implementing a reorganization, reducing its workforce by 20-25% to cut costs amid declining oil prices and rising expenses, with most layoffs occurring before yearend.
by Conglin Xu

Key Highlights
(1) ConocoPhillips plans to cut 2,600-3,250 jobs due to cost pressures, primarily before end-2025.

(2) The energy company aims to complete its reorganization and announce new leadership by mid-September, with full implementation by 2026.

(3) Similar layoffs are occurring industry-wide, with Chevron, BP, and SLB also reducing headcounts.

US oil and gas producer ConocoPhillips will cut between 20% and 25% of its workforce as part of a sweeping reorganization aimed at cutting costs and improving competitiveness, the company confirmed on Sep.3.

The Houston-based energy firm employs about 13,000 people worldwide, meaning between 2,600 and 3,250 jobs will be affected. Most of the reductions will occur before yearend, with the new corporate structure and leadership team to be announced in mid-September. The broader reorganization is expected to be completed by 2026.

The move comes amid weaker oil prices and rising costs that have squeezed profits across the industry. ConocoPhillips’ second-quarter net income fell to $2 billion, the lowest since early 2021 during the COVID-19 downturn. Chief executive officer Ryan Lance said costs have climbed by about $2/bbl in recent years, with controllable expenses rising to $13/bbl in 2024 from $11/bbl in 2021, eroding competitiveness.

In an internal video, Lance noted that as the company optimizes its organization and take work out of the system, fewer roles will be needed.

Oil, gas company layoffs
Other oil majors have also announced significant layoffs this year. Chevronsaid in February it would cut up to 20% of its staff, bp plc plans to reduce its workforce by more than 7,000 positions, and oilfield services giant SLB is trimming jobs as well.

In August, ConocoPhillips announced it expects to achieve more than $1 billion in cost cuts and margin improvements by the end of 2026, in addition to $1 billion in synergies it plans to achieve from its acquisition of Marathon Oil in 2024.

https://www.ogj.com/general-interest/personnel-moves-promotions/news/

At ConocoPhillips. 20-25% of their staff. This is happening to a real oil and gas company, not like you…. The ride is coming to an end. Don’t forget to take your belongings.

What future jobs are likely to replace the corporate jobs and salaries that are being outsourced in oil and gas?

Time to get rid of the low hanging fruit.

Spoiler alert: the closer you are to the valve the safer you are.

Major oil companies are actively laying off workers in 2025, driven by a combination of falling oil prices (hovering around $63 per barrel, below the $65 threshold many consider necessary for profitable drilling), post-merger redundancies, cost-cutting initiatives to boost shareholder returns, and broader industry shifts toward efficiency through technology and offshoring. These layoffs are part of a larger trend where U.S. oil and gas production has reached record highs, but employment has declined by about 25% compared to a decade ago, as companies produce more with fewer workers via advanced drilling techniques, automation, and remote operations. This has led to job losses even in booming regions like the Permian Basin, affecting communities in states like Texas, California, and Pennsylvania.

Shell fired white staffers at Houston offices for ‘weaker’ diverse hires in ‘discriminatory’ purge: lawsuit

https://nypost.com/2025/08/27/business/shell-ousted-white-security-staffers-for-weaker-diverse-hires-in-discriminatory-purge-lawsuit/

https://www.wsj.com/business/energy-oil/exxon-rosneft-russia-oil-talks-f524e81f

Whiting in the news again last week. This refinery must make Bri’ish Petroleum a lot of money for them to put up with this.

In spite of the press the cypress finds aren’t big enough to overcome the technical challenges and be economic. Tell me how I am wrong.

Reddit users u/ChEtossaway and u/Pakalee reminding all you losers why the top one third will always work their hardest to keep the bottom two thirds down.

From one of u/ChEtossaway comments on salary progression: “I’m at a cumulative average growth rate (CAGR) of ~7.5% for my salary.”
• $91K - cl 23
• $98K
• $103K - cl 24
• $108K
• $111K
• $121K - cl 25
• $127K
• $141K
• $162K
• $181.5 K- cl 26 - I think this is where I started getting rsu
• $181.5K – covid
• $192.2K
• $225.2K - cl 27
• $235.8K
• $250.7K

From u/Pakalee: “ExxonMobil Project manager 7 years experience (overall industry)
Salary - 186K Current assignment housing allowance - 29k Investment rental property - 32k Total ——— $244K
RSU balance - 41K.”

These high-flyers must make all of you working your PIPs and not getting raises over the last couple years blood boil, huh?

Is anyone having any luck securing employment? I have had no luck after applying to many so called openings. Reading other boards there are many others in the same boat, and I personally have not seen it this bad before. It seems like most of the job postings only exist to get information from people to be sold to others. Did companies just stop hiring? Even outside oil and gas the same seems to be going on.