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Oil Companies Cut Pay So They Don't Have To Fire People

2015-10-13 19:34:33| Oil & Gas - Topix.net

Oil companies worldwide have been forced to lay off over 200,000 people since the price of crude fell below $50 a barrel earlier this year. Facing little change in prices, companies are now slashing wages to cope with continued profit loss.

Tags: to people pay companies

Companies monitoring the oil patch by drone

2015-10-11 08:35:11| Oil & Gas - Topix.net

ADVANCE FOR USE SUNDAY, OCT. 11 - In this photo taken Sept. 23, 2015, Frank Hurtado shows some of the footage Midstream Integrity has taken during their oil field survey work in San Antonio, Texas.

Tags: companies oil monitoring patch

Oil companies bear brunt of price downgrades by credit, equity analysts

2015-09-28 10:48:52| Oil & Gas - Topix.net

Standard & Poor's latest downgrades to its oil price assumptions have weakened Origin Energy's credit standing, while the impact on pure-play oil and gas producers Woodside Petroleum and Santos remains uncertain. S&P has left Origin's BBB- rating unchanged but pointed to a "significant" reduction in the buffer the company has within that band, which is the lowest investment-grade rating.

Tags: price credit companies oil