I have said this many times;
LONDON (Reuters) - BP is to ax middle managers and could freeze projects as it grapples with the plummeting oil price, The Sunday Times reported, citing finance director Brian Gilvary.
"What you'll see with this simplification plan is that headcounts are starting to come down across all of our activities in upstream, downstream and in the corporate centers -- essentially the layers above operations," the newspaper quotes Gilvary as saying.
On Wednesday, BP will update on its exploration and production plans until 2010.
Sorry must be missing something, what does spin off have to do with number of drill permits issued for the overall US O & G industry
Always thought would be good to further unite the nation having a black president, too bad we got the wrong one. Colin Powell now, wow, how presidential he would have been, instead got pot smoking Barry. They say smoking one joint is comparable to a pack of cigs, to have both habits most certainly would cause a sore throat.
Several oil producers have set lower budgets for 2015, following a 42 percent drop in global crude prices since June.
Oil and gas producer ConocoPhillips said its capital budget for 2015 would drop 20 percent to $13.5 billion, amid a steep decline in global crude prices.
ConocoPhillips said it would “defer significant investment” in the Montney and Duvernay fields in Canada, the Permian Basin in Texas and the Niobrara shale field, which extends over Colorado, Wyoming, Nebraska and Kansas.
ConocoPhillips, which is focusing on the Eagle Ford shale in Texas and North Dakota’s Bakken shale, said it will also spend less on major projects, many of which are nearing completion.
Global oil and gas projects worth more than $150 billion are likely to be put on hold next year, according to data from Norwegian consultancy Rystad Energy.
This is what OPEC wants to see before the cut production, think Pickens is wrong about 100 oil, think instead the new norm will be 90 for awhile.
I would not put it past them, they add a dime, average Joe doesn't care as he thinks gas still cheap then oil recovers and Joe is screwed.
It really is just a guess, some consolidation is in order too, hoping right on SD surviving, but, maybe not. Some of the weak hand need to shake out for a true recovery.
Even without buy out, sell off 2 billion in assets will cut the debt in half and we still go up. Don't know about 10pps buy out, would be happy with 8pps and think Repsol may come in with a low bid which I am gone at that point.
Come on smokey, ego got a little kick in the noids?? You are wrong about CSX too. The CP and CSX dance is not over and if by chance it is, CSX will do just fine by it self.
Prior to OPEC meeting Putin offer to cut production 300,000 a day, they snubbed him. Think Saudi wants to see others cut production before they do.
I hate people that can't make a comment without being nasty on their delivery. It does make them look dopey, especially when their data is incorrect.
Cash, Repsol was sniffing when we were at 10pps, why would you think they would bid 15pps when we are at sub 5pps. I think 8pps to 10pps is more plausible. Who knows where Carl is at, he made have bought a ton the last week and his basis could be in the 6/7pps.
Yes a Smoked Lobster, regardless of the close, it is a good day, as I saw value when I bought, ( and others here), TLM and today was an affirmation. The announcement didn't say just Repsol, but, several interested parties.