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Suncor Energy to Cut 2,000 Employees in Oil & Gas Sector

  • 4 months ago
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Calgary-based oil and gas company Suncor says it plans to reduce its workforce by 10-15% in the next year-and-a-half, a loss of approximately 2,000 positions. The company has said that early retirements and voluntary severance packages could account for a significant portion of the reduction. The first wave of cuts will happen within the next 6 months.  Suncor is the third major energy company to announce cuts in recent weeks, with Shell and Marathon Oil both making similar announcements....

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Keystone XL Pipeline brings 'Mini-Boom' to Alberta Town

  • 5 months ago
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Amid an economic downturn, the small town of Oyen, AB has seen a boost. In the early days of fall, downtown Oyen can be seen filled with workers buying groceries, stopping by the local pub, or picking up take out after work.  These men are only a fraction of the recently-arrived workers, who have nearly doubled the town’s population to around 2,000.  Over the past several months, Oyen and other small towns in the area have had a taste of what some Albertans regard as the good o...

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Permian Drillers Bounce Back w/Largest Rig Hike in 2020: But will the Jobs Return?

  • 6 months ago
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Oil & Gas Companies operating in the globe's largest shale patch appear to be making a comeback - but will the jobs return? An additional 10 rigs went to work this week accounting for the biggest jump in activity since a price crash earlier this year triggered an unprecedented collapse in drilling. The nation was led by those Drillers in the Permian Basin in West Texas & New Mexico. With crude prices stabalizing above $40/barrel, the total number of active U.S. oil rigs rose by 11 to...

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Will COVID-19 spell the end of fossil fuels? Not likely.

  • 7 months ago
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The media has long had a love-hate relationship with the oil and gas industry. Yet oil & gas perseveres. Why is that? 2020 has been a difficult year for the oil and gas industry. Between a price war, government-mandated economic shut downs, and a reduction in global travel have all taken their toll on the industry. While patch workers may feel bombarded with doom-and-gloom articles about the fall of the oil and gas industry, the claims that fossil fuels are going extinct comes prematurely....

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US Shale Companies Turn Oil Taps On Again

  • 8 months ago
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Following April’s US oil cost dip into the negatives, shale drilling companies across the country slowed production to reduce output as oil consumption around the globe slowed due to the ongoing COVID-19 pandemic.  As the world slowly reopens and oil costs rebound close to $40 a barrel, producers such as Parsley Energy Inc. and WPX Energy Inc. are turning their wells on once again. The elevated production volumes still remain well below the peak ranges before the pandemic, where US...

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