Costs

  • Royal Dutch Shell Plans to Limit Spending

    Royal Dutch Shell Plans to Limit Spending

    Wednesday, 8th June 2016
    Oil giant Royal Dutch Shell plans to increase cost savings to $4.5b following its $54b acquisition last February of BG Group, which Chief Executive Officer, Ben van Beurden, said will make it the best oil company investment, ahead of Exxon Mobil.
  • Brazil’s Petrobras Reduces Costs Affecting Up to 12,000 Jobs

    Brazil’s Petrobras Reduces Costs Affecting Up to 12,000 Jobs

    Monday, 4th April 2016
    Brazil’s troubled state-run oil company Petrobras announced a beefed up voluntary layoff program that could affect up to 12,000 jobs amid intense efforts to cut costs.
  • Eni Plans $14b in Cost Cuts, Asset Sales

    Eni Plans $14b in Cost Cuts, Asset Sales

    Sunday, 20th March 2016
    Eni plans to cut investments and sell down stakes to help it prop up dividends. Company's CEO said the disposals will be mainly through the dilution of stakes in recent discoveries, picking out gas fields in Mozambique and Egypt as prime candidates.
  • Oil Prices, Post-Sanction Iran Prompt GCC Maintenance Cost Cutting

    Oil Prices, Post-Sanction Iran Prompt GCC Maintenance Cost Cutting

    Wednesday, 4th November 2015
    Gulf oil producers are delaying some field maintenance until next year to keep production high and reduce costs, forecasting weaker oil prices in 2016.
  • Brazil’s Petrobras Braces for Strikes

    Brazil’s Petrobras Braces for Strikes

    Sunday, 6th September 2015
    The largest oil workers union in Brazil has announced that it will begin a strike against Petrobras on Sunday, Asia Shipping Media reported. The workers are striking to protest austerity measures being implemented at the massive oil giant.