Unemployment on the 29 for ALLOT OF people at the BINGLE plant. No NEW orders for Sub-Sea! Wait and see! Now you have GOT to ask. Why did they transfer the plant manager at Bingle, buys a 2016 Porsche Panamera, and says ADIOS. Top side lay offs only means, Sub Sea, Engineers will be forced to do all. Drafters and Designers it is said will be let go. TAKE THE PACKAGE. Look for other employment other than the Oil Industry.
WTI Crude Oil
$36.76 ▼-0.28 -0.76%
Brent Crude Oil
$37.22 ▼-0.06 -0.16%
Oil giants are expected to further increase debt to preserve dividends as the price of a barrel of crude oil scrapes along below $40.
Worldwide oil and gas investments are forecast to slide to a six-year low in 2016 of $522bn, following their 22% fall to $595bn last year, Oslo-based consultancy Rystad Energy said.
http://www.sharecast.com/news/oil-and-gas-industry-faces-another-year-of-investment-cuts/23786607.html
Energy CFOs Expect a Run on Distressed Assets in 2016
CHICAGO--(BUSINESS WIRE)--
As 2016 begins, the energy industry remains uncertain of when the sector will turn around—and companies are taking steps to streamline operations until prices begin to recover. With 85 percent of U.S. oil and gas chief financial officers (CFOs) predicting low oil and gas prices to be their greatest financial challenge in 2016, many energy companies are looking to tighten their belts by selling off assets.
http://finance.yahoo.com/news/energy-cfos-expect-run-distressed-140000933.html;_ylt=AwrTHQjhQItWtxYAif1XNyoA;_ylu=X3oDMTByNWU4cGh1BGNvbG8DZ3ExBHBvcwMxBHZ0aWQDBHNlYwNzYw--