BP's new CEO Bernard Looney has set a goal to reduce greenhouse gas emissions and become a net-zero carbon company by 2050.

BP plans to lay off nearly 10,000 workers globally by the end of the year in response to the oil crash and economic fallout from the coronavirus pandemic. The job cuts include those eliminated through attrition, but some of the San Antonio jobs will be moved to Houston or other offices, an Apache spokesman said. Houston is home to BP’s U.S. headquarters and its largest employee base. BP plans to lay off nearly 10,000 workers globally by the end of the year as it responds to the oil crash following a self-imposed 90-day moratorium on job cuts. The company expects to save $150 million per year in its reorganization.

August acquisition of The Woodlands-based Anadarko Petroleum, Occidental starting widespread layoffs in Houston and beyond, Read the latest oil and gas news from HoustonChronicle.com, Drilling rig count remains flat near three-year low with oil at $50, Black Stone Minerals cuts investor payouts by almost 20%. “But we must do the right thing for BP and this is that right thing. In a statement, EnVen said the rig release was planned and followed the completion of a nearly two-and-a-half-year drilling program. The U.K.-based oil major on Monday ended its three-month freeze and said it would start a process to shed thousands of jobs, most of which are office-based. Big or small, the more successful companies are focused on oil properties or natural gas wells that are "liquid," meaning they also produce higher valued commodities such as ethane, propane, butane, isobutane, and pentane. Looney said it was always BP’s plan to become a “leaner, faster-moving and lower carbon company.” The oil crash just forced the company to move more quickly, he said. More: Read the latest oil and gas news from HoustonChronicle.com. Apache headquarters in Houston.

Calgary-based Houston Oil & Gas ceases operations, leaving almost 1,300 wells needing cleanup, Bargain prices for oil and gas companies as they hit the discount bin. Apache could manage its Eagle Ford operations from Houston or even its West Texas hub. That's bad news for Houston. Meanwhile, oil field services company Enterprise Offshore Drilling said it would lay off around 60 workers, part of a planned release of a Gulf of Mexico oil rig. Apache, 2 other Houston oil companies cut nearly 600 jobs. Paul Takahashi is a business reporter for the Houston Chronicle.

While Apache has a notable presence in South Texas’ Eagle Ford shale closer to San Antonio, it has increasingly turned to West Texas’ booming Permian Basin for production. Raedschelders said he's not surprised the company is no longer operating, since Houston's surface rights payments to him were often delayed. The industry shed a record 26,300 jobs in Texas during April, according to the latest figures from the Texas Workforce Commission.

Oil-field service company Halliburton last month laid off 1,000 at its Houston headquarters. Houston has 1,264 wells, 41 facilities and 251 pipelines, according to documents.

There will be no pay raises for senior executives and group leaders until at least March 31, 2021. "Houston Oil & Gas Ltd. is steadfast in the management of its end-of-life liabilities. Its stock price plunged more than 50 percent from late 2018 through a recent December low. The OWA is an industry-funded organization that cleans up old oil and gas infrastructure when companies go bankrupt and the assets cannot be sold. The layoffs at BP will affect senior level jobs the most. EnVen plans to cease operations at the end of January, Amy Warner, Enterprise’s vice president of human resources, wrote in her letter to the state. Houston entered receivership last week.
The company is cutting dozens of jobs in Midland. While there is no official list of how many firms have declared bankruptcy since the oil price crash in late 2014, many others have declared bankruptcy or entered creditor protection. Last month, Bellatrix Exploration entered creditor protection and is still looking for a buyer. According to Houston's web site, the company formed in 2002 and began production in 2015. BP's Westlake One, 501 West Lake Park Blvd., is shown Tuesday, Oct. 29, 2019, in Houston. "Houston Oil & Gas Ltd. is steadfast in the management of its end-of-life liabilities. Box 500 Station A Toronto, ON Canada, M5W 1E6. When it sells a can of soup. Audience Relations, CBC P.O. Trump says he built a ‘booming’ economy. BP said the price of crude, which declined slightly to $38.19 Monday, is “well below” the level it needs to turn a profit, and that the company is spending “much, much more than we make.” As a result, the company is reducing capital spending by $3 billion, and reducing operating costs by $2.5 billion. HISD changes COVID-19 decision metrics after meeting original threshold to close, Kamala Harris coming to Texas on Friday, including a stop in Houston, sources say, Woman shot and killed at Texas Renaissance Festival campground, Oil falls with dimming stimulus chances and surging virus cases, Building supply company hiring for Houston positions, Community association management company breaks ground on office building, Contango to acquire Mid-Con in sign of accelerating energy consolidation, Big Oil loses refining crutch with margins crushed last quarter, Houston companies earn spot on Fortune Great Place to Work list, When is a bar not a bar?
The oil downturn of the 1980s was the worst ever, costing the region one in seven jobs.

In May, Trident Exploration shut down, which put 94 people out of work and left approximately 3,650 wells without an owner. It costs around $22 billion a year to run the company, of which $8 billion is related to labor costs, the company said. “Apache has already centralized key activities and seen positive results and is looking to take further steps in that direction,” said company spokesman Phil West.

He has extensively covered the industry from the 2014 bust in oil prices to the more recent boom in West Texas’ Permian Basin. The California-based oil major employs about 7,000 in Houston, according to a Chronicle survey. BP has 70,100 employees around the world, including 4,000 in the Houston area, according to a Houston Chronicle survey. Jordan is a New Orleans native who graduated from Texas Christian University with a journalism degree before going back to work at daily newspapers in Louisiana.

It is a priority for CBC to create a website that is accessible to all Canadians including people with visual, hearing, motor and cognitive challenges. “Staff reductions are always difficult, and we are working to support those employees who will be affected.”. In that event, the AER estimates the price tag at $81.5 million. The company is focused primarily in southeast Alberta and predominantly produces natural gas, according to its web site. Closed Captioning and Described Video is available for many CBC shows offered on CBC Gem. Pseudonyms will no longer be permitted.

But the impact — particularly on those leaving us — is much, much tougher. Mining, which includes oil and gas drilling, lost 20,000 jobs in May, according to the Bureau of Labor Statistics, and 77,000 over the past three months. Photo: Melissa Phillip, Houston Chronicle / Staff photographer. Some small and mid-sized companies are faring better than others, according to Patrick O'Rourke, an analyst with Calgary-based AltaCorp Capital.

Trump says he built a ‘booming’ economy. "If all of Houston's wells are ultimately designated as orphans, the orphan inventory of wells requiring [decommissioning] will increase by nearly 30 per cent," according to a court submission by the OWA. Modest oil prices and spending cuts have contributed to the loss of nearly 5,000 oil and gas jobs in Texas from June through November, according to the Texas Workforce Commission. While Apache’s layoffs are aimed at cutting costs, the positions being cut by Enterprise followed an expected shutdown of a Gulf rig owned by EnVen Energy. Employees can request buyouts starting June 15.

HISD changes COVID-19 decision metrics after meeting original threshold to close, Kamala Harris coming to Texas on Friday, including a stop in Houston, sources say, Woman shot and killed at Texas Renaissance Festival campground, Trump puts oil on the ballot in race to win Texas, Refineries face headwinds as COVID cases rise, Frequent CenterPoint outages happen rain or shine, customers say. It provides crews for offshore drilling rigs and employs more than 500 workers.

Oil-field service company Halliburton last month laid off 1,000 at its Houston headquarters.

He has written about everything from Texas’ national lead in renewable wind power to the Houston area’s growing dominance in petrochemical and plastics manufacturing. To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). The company … "I feel bad for them," said Marc Raedschelders, who has a Houston natural gas well on his property near Pincher Creek in the southwest corner of the province. RELATED: Chevron cutting jobs; Exxon has ‘no layoff plans’. The court documents say some of the wells have already been transferred to the Orphan Well Association (OWA) to be decommissioned. Three Houston oil and gas companies Thursday said they would slash nearly 600 jobs in Texas, a day after Occidental Petroleum began a massive staff reduction. "I don't know what my options are," he said. The company said it plans to reduce the number of group leaders by a third, and will begin offering buyouts this month. Companies primarily focused just on natural gas, seem to struggle the most. Economists say he inherited it.

Previously, Jordan was an award-winning reporter at The Advocate in Baton Rouge and New Orleans as a statehouse reporter and education writer, and then as the newspaper’s Washington Bureau chief.

Hardie and Kelly Inc. has been appointed to ensure Houston's wells are properly maintained and to look at possibly selling some of the assets.

Chevron cutting jobs; Exxon has ‘no layoff plans’, Contango to acquire Mid-Con in sign of accelerating energy consolidation, Oil firms bring record level of debt to bankruptcy court, Modest increase gives rig count its 6th-straight gain. Houston has been through oil booms and oil busts before. In addition, BP said it is unlikely the company will be able to pay annual cash bonuses to employees this year, but will lift its freeze on promotions and pay raises for some employees. It will help strengthen our finances.


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