Royal Dutch Shell Plans to Limit Spending

• Wednesday, 8th June 2016
• by Egypt Oil & Gas

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 inve...

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

• Monday, 4th April 2016
• by Egypt Oil & Gas

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.  The movement came days after the company informe...

Eni Plans $14b in Cost Cuts, Asset Sales

• Sunday, 20th March 2016
• by Egypt Oil & Gas

Italy’s Eni revealed its intention to cut investments and selling down stakes in oil and gas fields to help it prop up dividends and become a leaner exploration-driven player focusing on gas, according to its 20...

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

• Wednesday, 4th November 2015
• by Egypt Oil & Gas

Industry sources have informed Reuters that Gulf oil producers are delaying some field maintenance until next year to keep production high and reduce costs, forecasting weaker oil prices in 2016. The sources, however,...

Brazil’s Petrobras Braces for Strikes

• Sunday, 6th September 2015
• by Egypt Oil & Gas

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 ...