Roughneck City Where Oilfield Lives!

Time 2020-09-26 15:05:38

Web Name: Roughneck City Where Oilfield Lives!

WebSite: http://roughneckcity.com

ID:60565

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City,Roughneck,Where,roughneck,drilling,oilfield,keychain

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Petrofac To Furlough 200 North-East Workers Oilfield services firm Petrofac will put about 200 north-east staff members on furlough as part of its response to the Covid-19 outbreak.London-listed Petrofac hopes to benefit from government schemes created to provide support with salary payments during the lockdown.Salaries for Petrofac’s board members, senior management and “most employees” will be pruned by 10-15%, while “non-staff overhead costs” will be slashed by up to a quarter.Capital expenditure will be cut by 40%, with overhead and project support costs to be lowered by at least £81.5 million this year and up to £163m in 2021.The company is reducing costs in anticipation of a decline in activity levels, sparked by the recent slump in oil prices, caused in turn by the Covid-19 pandemic’s impact on demand and the collapse of a production pact between Saudi Arabia and Russia.Petrofac said today it would lower its global headcount by about a fifth and furlough staff members.READ MORE AT ROUGHNECK CITY NEWS An Open Letter To Canadians From Oil And Gas Workers The oil and gas industry has created hundreds of billions of dollars in revenues for Canada. Now, we’re asking for a very small amount backDear fellow Canadians,Canada’s oil and gas workers need your help. The perfect storm has turned into the perfect tsunami for the Canadian oil and gas industry.After five years of battling anything and everything we thought humanly possible, the once-in-a-lifetime combination of an oil price war between Russia and Saudi Arabia and a global pandemic of unknown proportions has left oil and gas families with next to nothing. A barrel of Western Canadian Select now costs less than a foot-long sub. The companies that employ and support hundreds of thousands of Canadians across this country are decimated.Since 2014, well over 200,000 hard-working men and women have lost good jobs. In the drilling and well-servicing sector, we have lost 22 companies and nearly 600 rigs. These companies are the backbone of many Canadian rural communities. Each of their rigs provides direct and indirect employment for 175 people. The numbers are staggering and the impact is deep.READ MORE AT ROUGHNECK CITY NEWS Oilfield Firm Halliburton Cuts More U.S. Jobs As Oil Bust Deepens Oilfield services firm Halliburton on Monday was cutting about 350 employees in Oklahoma, according to a filing with the state, amid a deepening oil bust from the spread of coronavirus and a price war between Russia and Saudi Arabia.Staff cuts could begin this week at its Duncan, Oklahoma facility, the filing said, and will be permanent. The facility is expected to remain open.Energy companies have slashed spending since oil prices this year crashed more than 60%, taking prices below $30 a barrel, less than the cost of production. Halliburton last month said it would furlough 3,500 workers in Houston to cope with lower prices.“This was a difficult decision, but is necessary action as we face challenging market conditions,” spokeswoman Emily Mir said in a email.U.S. crude futures were trading at $27.29 a barrel on Monday morning, down about 3.8% after OPEC+ members delayed a meeting on output cuts.READ MORE AT ROUGHNECK CITY NEWS More Than 4,000 North Sea Oil Rig Jobs Cut Amid Covid-19 Crisis The North Sea’s workforce has fallen by 40% within two weeks as oil companies cut the size of their offshore oil rig teams to help stem the spread of the coronavirus.More than 4,000 rig contractors have been cut in the wake of the UK lockdown, during a difficult year for the oil industry after the collapse of global oil prices.The number of workers operating the North Sea’s oil and gas platforms typically stands at about 11,500, according to Oil and Gas UK, but the number of people operating the rigs has already fallen to 7,000.The UK oil company Cairn Energy became the latest North Sea oil producer to scale back spending plans. It told investors on Friday it planned to cut its budget for the year by almost a quarter to weather the oil price crisis.Cairn will shave $20m (£16m) from its North Sea spending plans to $45m, and will reduce its capital expenditure in Senegal by $70m to less than $330m. The company also plans to cut spending on exploring for new oil and gas reserves by a third, to $100m.READ MORE AT ROUGHNECK CITY NEWS One Person Dies As Crane Boom Collapses At Jack-Up Barge Off Qatar Jack-up barge said to be working on sub-contract from Saipem, the key contractor for Qatargas’ Barzan pipeline replacement projectOne person is believed to have died on board the jack-up barge Seafox Deema when one of the vessel’s cranes collapsed into the water off Qatar this week.Seafox Deema was working on a sub-contract from Saipem, the key engineering, procurement, construction and installation contractor for Qatargas’ Barzan pipeline replacement project, several people familiar with the incident told Upstream.One person said the crane operator working on the vessel died when the crane collapsed into the water, while it was lifting a pipe.“A crane from jack-up barge Deema was lifting some pipe spools from an offshore support vessel. The crane failed and toppled into the water with the boom and cabin,” he said.A diving operation followed, which later confirmed the fatality, as the crane operator was unresponsive, he added.One unconfirmed source claimed the deceased was a 34-year old Indian national.A second person said work on the Seafox Deema vessel has been stalled temporarily following the incident.However, no damage has been reported on the topsides and subsea assets involving the Barzan project, he added.Upstream has sought responses from Seafox, Saipem and Qatargas on the incident.Seafox Deema is a three-legged, self-elevating jack-up unit for accommodation and offshore support services.It was converted to a self-elevating jack-up in 1990 by Lamprell in Sharjah, United Arab Emirates, and was subsequently upgraded there in 1998.The vessel has a maximum person-on-board capacity of 470 and can operate in water depths up to 190 feet (58 metres), according to the company website.Seafox Deema has three cranes, with a maximum lift of 200 tonnes.Upstream in 2018 had reported that Saipem was set to win a $1 billion-plus offshore pipeline contract from Qatargas, involving its much delayed Barzan gas project in Qatar's giant North Field.The Italian contractor landed the key Barzan project in 2018 and has been working on the pipeline project.The project’s workscope included the EPCI of more than 170 kilometres of offshore pipelines, plus an additional 80 kilometres of piggyback lines.The $10 billion-plus Barzan gas development is being carried out by RasGas (now merged with Qatargas) and US supermajor ExxonMobil.State-owned player Qatar Petroleum and ExxonMobil signed agreements confirming the Barzan project in 2011. The scheme involves a mix of offshore as well as onshore facilities.READ MORE AT ROUGHNECK CITY NEWS Halliburton to 'Significantly' Cut 2020 Capex Below 1.2 Dollar Billion Budget Oilfield services firm Halliburton is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday.The Houston, Texas-based company did not disclose a new spending target, but is testing scenarios including a 60-65% reduction in some areas of the oilfield services sector, Chief Financial Officer Lance Loeffler told investors on a webcast. He pointed to a reduction to $800 million done during the last downturn that began in late 2014 as a potential target.Crude oil prices have more than halved since the start of the year as the spread of coronavirus slashes demand, and after Russia and Saudi Arabia launched an unanticipated price war. On Tuesday, U.S. crude futures were trading at $23.72 a barrel. "The industry is facing an unprecedented dual impact on demand and supply side that none of us have witnessed over our professional lifetimes," Loeffler told investors.READ MORE AT ROUGHNECK CITY NEWS Since 2006 Roughneck City has been providing quality products for men and women in the oil gas industry. We carry lines of products from quality manufactures as well as a number of quality items we manufacture ourself.Roughneck City continues to provide a "no hassle" 100% Money Back guarantee on every product we sell.Purchase with confidence from Roughneck City!If you have questions, concerns or comments you can contact the owners of Roughneck City directly every day-Just call us!USA Canada (888) 641-0217 International+011 (580) 526-3953 email: curtis@roughneckcity.com We ship to places like Canada, Australia, United Kingdom, Norway, Iceland, Russia and Germany every day and offer the lowest cost shipping available.Still Have Questions? Give us a call!USA/Canada (888) 641-0217 International (011) 580- 526-3953We Accept

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