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The cuts announced Monday follow the elimination of 600 factory posts at the division announced in May, mostly focused on Norway, where Rolls-Royce’s marine manufacturing operations are based.
Middle Eastern producers are competing increasingly with cargoes from Latin America, North Africa and Russia for buyers in Asia. Producers in the Persian Gulf region sell mostly under long-term contracts to refiners.
Oil companies are eyeing projects in Iran, which has the world’s fourth-largest reserves, after the nation came to an agreement with the U.S. and other world powers to curb its nuclear program in exchange for an end to economic sanctions.
Earlier this week, the company eliminated 740 jobs and let go of about one in six of its employees, as part of Chief Executive Officer Doug Lawler’s plan to combat the weak energy market by reducing headcount, selling assets, spinning off business lines and halting a 14-year run of dividend payouts to stock investors.
Alaska is poised to alter its social contract with people like Paul Alexie for the first time in its 56-year statehood. Oil riches have ensured that the 23-year-old Yupik Eskimo from Bethel doesn’t pay state sales or income taxes. Instead, Alaska pays him. He’ll use $2,072 that lands in his bank account today to defray […]
Iran will need $30 billion of investment over five years to boost oil production, starting with about 350,000 barrels of new output next year, Goldman Sachs Group Inc. said in a report Thursday.
The ruling by U.S. District Judge Scott Skavdahl puts on hold the most closely-watched effort by the Obama administration to ensure that fracking doesn’t contaminate water supplies.
Iran is preparing to bounce back from sanctions that strangled its economy and choked off investment in its oil and gas industry.
The frenzied drilling that made North Dakota No. 1 in personal-income growth and job creation for five consecutive years hasn’t lasted long enough to support the oil-fueled building explosion.
potential buyer might be forced to accelerate the payment of up to two thirds of the $18.7 billion in penalties the company agreed to pay the U.S. and several states, according to company filings. As it stands, BP has more than 15 years.