#oilandgas

ConocoPhillips has laid off 10 to 12.5% of its North Slope workforce, the company confirmed Tuesday, as employees at three oil fields move to form a union.

Two hundred forty-three ConocoPhillips employees at the Kuparuk, Alpine and Willow fields have petitioned the National Labor Relations Board to join United Steelworkers, citing recent staffing changes that organizers say threaten employee safety and reduced pay.

According to the organizers’ website a confidential organizing campaign has been underway for months.

https://www.alaskasnewssource.com/2025/12/10/conocophillips-confirms-up-125-north-slope-layoffs-workers-seek-union/

Now got project FID. should have been the springboard off the back of catcher to really propel DQ into competing with the big boys.
Now? This project will go to OneSubsea or BH and normal service has been resumed.

What a sad state of affairs.

These layoffs signal a significant shift in the company’s regional operations and reflect continued workforce and operational changes.

The Green new deal and Net Zero are dead. Greg tied getting LNG going 10 years ago. So now in 2025 Canada produces 1/8th by volume to US.

2026 Capex allocations are now of public domain.
Absolute zero reference of Argentina, which can be interpreted in 2 ways:

• next divestiture candidate
• idling at minimum for the next few years until the Permian peaks and start to decline.

Curious to know your opinions.

I’ll get the ball rolling : 300 from non mfg and 200 from mfg axed.
Package not bad 25 mths but company can pull the plug anytime up to your departure date and have you stay.

Ok start gibbering !

Heard there were some individuals in WV who got let go last week. What is going on?

There is absolutely nothing we can do to improve our stock price. It will just change in lock step with oil and natural gas prices.

BVB tried to transform Shell into something virtuous. If you believe that burning fossil fuels results in climate change, and that the global ecosystem is unable to absorb the rising CO2 levels with devastating results, then something had to change. Oil cos need to make deals with governments around the world that violate human rights. Their activities cause environmental damage everywhere they are conducted. Of course, selling Shell's "dirty" assets to someone else who will do the same things, perhaps even less ethically, improves nothing in the short term. But if that money is taken and used to chart a different path, in the long term, maybe Shell could make a difference ... even if that path necessarily leads to Shell's own extinction because green energy will become less and less profitable as it scales.
So where did BVB go wrong? First, green energy is unprofitable even in the short without subsidies. That means Shell's business must must align with political priorities that swing wildly. But Shell needed to be able to bullsh-t its investors that it had a path to profitability so it took the money. Second, green energy has technological hurdles that must be overcome or it will fail. Think batteries, wind and solar variability, and the grid collapse in Iberia. Third, Shell's chosen green energies will NEVER meet its net zero goals. They generate way more carbon, and environmental damage, than they save. Shell should have directed its efforts into other technologies that have hurdles that are likely to be solved and then would be closer to carbon neutral. Fourth, the green energy movement that Shell tried to lead, was a scam that US voters revolted against, with the EU soon to follow as their citizenry tires of their inflated energy prices and the effect on their economies. Think ESG scores and greenwashing by claiming credits for trees that you have cut down yet, and net zero promises with lots of fine print, and buying Russian oil but we're sorry you caught us, and Davos elites flying in on their private jets and then proposing things like good citizen scorekeeping (hey, the CCP is doing it, why shouldn't everyone else) and limits on meat consumption and dozens of other ways for the elite to maintain their wealth and power over the miserable plebians.
Shell aligned itself with the left, the only ones who opened their arms (not including the "stakeholders" who sued Shell in Dutch court and chased it out of the country), but the left went too far. The left that gained control (and still has control in places like GB) wanted to tear down the colonizing racist power structure and replace it with a society based on intersectionality, DEI, gender fluidity and all that entails, open borders, politically motivated extended economic shutdown (except for the politicians at their own parties), and so on. There was social backlash that resulted in political reversals and Shell lost on all of its big bets.

Hope this is not, “Short term gain, at the price of long term gain.”

Are laid off employees entitled to a prorated VCIP paid out in Feb or as part of their severance payment?

If you're early or mid career think longer term about the implications of a shrinking oil and gas industry, and where you want to be in the future. This will NOT be the last round of layoffs if history is any guide. Do not wait too late to transition to something else with more long term promise. Don't box yourself into a role that will not translate to another one elsewhere. It is quite rare that you will make it past 55 (or even 50) in this industry and by then it would be too difficult to pivot.

Sound advice. OP: @c8+1ka0j1k60

Saudi Arabia scales back salary premiums for foreign talent, recruiters say

By Rachna Uppal and Federico Maccioni
November 16, 202512:01 AM CST

Summary

Saudi Arabia shifting focus to sectors such as AI, logistics

Salary premiums for foreign recruits reduced amid cost-cutting drive, increased competition

Saudi private sector salaries now comparable to UAE

ABU DHABI, Nov 16 (Reuters) - Saudi firms are scaling back generous salary premiums that once lured top foreign talent into sectors such as construction and manufacturing as the kingdom reins in spending and reorders economic priorities, four recruiters told Reuters.

Saudi Arabia, the world's top oil exporter, is more than halfway through its economic transformation blueprint, known as Vision 2030, aimed at reducing dependence on hydrocarbon income, creating jobs, and expanding industries such as tourism, real estate, mining and financial services.

ExxonMobil is set to lay off 2,000 workers globally as part of a restructuring plan aimed at improving efficiency and consolidating operations.

Overview of Layoffs

Number of Layoffs: ExxonMobil announced it will cut 2,000 jobs worldwide, which represents about 3% to 4% of its global workforce of approximately 61,000 employees.

Affected Regions: The layoffs will primarily impact operations in Canada and the European Union, with 1,200 positions expected to be cut in Norway and EU countries by the end of 2027. There are currently no planned job cuts in the U.S..

Reasons for Layoffs

Restructuring Plan: The layoffs are part of a long-term restructuring strategy aimed at cutting costs and improving operational efficiency. ExxonMobil is consolidating smaller locations into regional hubs to enhance collaboration among employees.

Market Conditions: The decision comes amid fluctuations in global oil prices, which have prompted many energy companies, including ExxonMobil, to reduce their workforce to maintain profitability in a challenging market.

ExxonMobil has stated that the restructuring is necessary to align its global footprint with its operating model, emphasizing the need for collaboration in a rapidly changing energy landscape. A spokesperson noted, "Our global office network was established decades ago under very different circumstances".
Global News

These layoffs reflect broader trends in the oil and gas industry, where companies are adjusting to lower prices and focusing on efficiency amid ongoing market volatility.

According to Axios, peak oil is expected to occur around 2030. This is earlier than many experts had believed, and it is based on the US’s shift back toward renewables. Douglas A. McIntyre, Editor-in-Chief of Climatecrisis247, explains,

https://www.msn.com/en-us/money/markets/oil-is-on-the-way-out/vi-AA1Qsk5T?ocid=msedgntp&pc=W230&cvid=69178c1edb5b497096bd420ecd4427be&ei=26

I worked for IOL for close to 20 years, and I hardly ever saw the stock price touch $50 CAD. It was a bad idea to invest in IOL, so sold all my IOL stocks in RRSP. Bad decision!! But who knew this will happen!!

There is no doubt that VH and her leadership team are doing a terrific job at Oxy. She is focused on her goal of making Oxy a great company. Her almost one decade of experience as the CEO has made Oxy a well respected and recognized name in the oil and gas industry. The 3Q results is something to be proud of. Her hard work is finally paying off. She is also working hard to pay down Oxy’s debt. Oxy is a leader in innovation and Carbon Capture. I am very proud to work for Oxy.

Is this attainable given top line decline rates are 9%

MW is promising something like 12% production increases per year to account for production declines and well failures.

Is this doable or will more companies need to be purchased?
Possibly a Permian Pure Play, and a multinational large independent

What is the predicted outcome for Apache in the North Sea? They are looking at a 4 billion dollar Abandonment responsibility. How will JC handle this unprecedented challenge? Production declining like he-l and maintenance on basic life support. Who or How is this paid?

I wouldn’t be eligible but my boss would be, and I’d love for him to move on. But I’m guessing there’s no way - OxyChem will probably be hiring more if anything.

So ADIPEC just wrapped up, and it seems we managed to send a lot of folks to Abu Dhabi to support. Wondering what the final price tag of that ended up being. Seems I saw on another company's page that they put a conservative number on a C-Suite attending at around 50K each (flights, lodging, logistics, incidentals, loss productivity while there). For Sr. Managers, it was near 35K, and for rank and file (non-business class flyers) it was in the area of 20K. Add all that up and it's crazy.

Know we need to be there, but it seems we send a lot of folks who use it more like a vacation and an opportunity to "team build" with the other managers.

No worries, just cut a couple of heads when you return to pay get the numbers where you need them to wrap up Q4 - no need for those folks to do any work.

All aside, consider the travel that is denied for your own team and than run some numbers on the cost to fly Houston to Abu Dhabi (business), stay at the Ritz or like (for ELT), logistics to move folks around, team dinners and the like and the work that has to be pushed back a week. It's not a small number, folks.

But we did win a couple of awards and booked a shitload of air miles for that vacation next year.

Looks like the shareholders are OK with Imperial Oil. I guess from a shareholder perspective, the company is doing OK.

Employees don’t want it to be like this too. After all, our pensions are tied to the company, and some of us will still get their salary from this company.

Don’t want bad for anyone, so happy to see that the stock price is going up.

With whispers of the Blue Hydrogen project pushing out FID, that project keeps the lights on at the Houston office. If the project is mothballed, what other projects are on the horizon to keep the Houston office busy?

With oil prices dropping, green energy subsidies drying up, and large capex projects getting pushed further and further out, its going to be a game of musical chairs to remain billable. I don't see any other way around a wave of layoffs.

Top this off with their new focus on GID/low-cost-center engineering (offshoring) it seems like Worley is gearing up to whack the majority of their Houston engineering division, and have it only be there to simply check the work of GID, and GID will be at the driver seat for most projects.

Am I right, or am I right?

“I think what [oil producers] are seeing right now, especially with the flooding going on by OPEC+, means you’re not going to see much more activity than what we’re doing right now. The production side seems to be staying busy, but if you’re in the drilling side, there’s been a lot of layoffs going on there,” described Kirk Edwards, President of Latigo Petroleum.

https://www.okenergytoday.com/2025/11/oil-exec-fears-of-layoffs-caused-by-opec-production/

Please…I know a lot of coworkers who would take it easily!

ConocoPhillips quarterly report was just published. From the highlights a couple things stand out to me... Very high exposure to US shale in L48 and $5 billion more in planned divestitures for 2026 are on track.

What's getting sold next that can generate $5 billion? Underperforming US assets? Someone else speculated Montney?

ConocoPhillips announces third-quarter 2025 results; increases quarterly ordinary dividend by 8% and announces preliminary 2026 guidance
November 6, 2025
https://www.conocophillips.com/news-media/story/conocophillips-announces-third-quarter-2025-results-increases-quarterly-ordinary-dividend-by-8-and-announces-preliminary-2026-guidance

• Delivered total company and Lower 48 production of 2,399 thousand barrels of oil equivalent per day (MBOED) and 1,528 MBOED, respectively.
• Exceeded $3 billion in dispositions in 2025 and on track to meet $5 billion disposition target by year-end 2026.

• Random analyst question*
  “IF YOU STEP BACK…” -JC

MEG is closing soon. What’s next.

Team of the usual suspects working on a plan to fully outsource Permian operations. Similar to Guyana SBM Model. Being close to the wellhead to be safe was never true. Timeline for change is unclear. Those in operations will be offered to switch over to third party service provider as was done previously with groups like IT and GREF with the associated cut in pay and benefits.

Has it started yet ????

The tariffs will hit us hard.

U.S. oil major ExxonMobil (XOM) will not be able to continue doing business in the European Union if the bloc does not significantly loosen a sustainability law that would penalize companies with fines of 5% of global revenue, CEO Darren Woods told Reuters.

"If we can't be a successful company in Europe, and more importantly, if they start to try to take their harmful legislation and enforce that all around the world where we do business, it becomes impossible to stay there," Woods said on the sidelines of the ADIPEC meeting in Abu Dhabi.

The EU’s Corporate Sustainability Due Diligence Directive aims to provide investors with greater visibility into value chain risks and hold non-compliant companies accountable to member states and victims of human rights or environmental violations, including in operations outside Europe.

"We're continuing to advocate to make sure that people really understand the disastrous consequences of this legislation, if it stands as it currently is, and we're going to continue to try to rally basically, business leaders around the world to push back against this legislation," Woods said.

Exxon (NYSE:XOM) has "slowly been pulling out of Europe," Woods said earlier, noting the company has shut down or exited 19 operations because of what he said was red tape that hurts business.

The European Parliament's legal committee voted in October to water down the EU's corporate sustainability law, which is facing pushback from several companies, including Exxon (NYSE:XOM) that have said complying with the rules would seriously harm the competitiveness of industries operating in Europe.

https://www.msn.com/en-us/money/markets/exxonmobil-ceo-says-eu-sustainability-law-could-force-company-out-of-europe

There is still no listing for the upcoming COP lay-off on the TWC site. The list is obviously up to date because there are listings from the end of October. This is just one more reason why Texas su-ks and needs a complete overhaul from the top down. It is never for the people here with the current regime in power. Examples are:
support to take away women’s rights, minimizing employees rights, having Ten Commandments posted in public schools, not being able to bring citizen referendums to the polls, and playing political games with national guard just to lick the boots of the mo--n leading this country. We should never go as far as California but there is something in between Texas and California that works better than the current situation.

EVs in America make up 10 percent of new car sales. In 15 years what does our industry look like? Will they get rid of Galveston bay?

Look at his left hand.

https://www.linkedin.com/posts/exxonmobil-mozambique_this-week-we-had-the-honor-of-welcoming-activity-7389677374436646912-dF8N?utm_source=share&utm_medium=member_ios&rcm=ACoAAAghr0EBxYrvlW41szMwjPB1N_b7_qJtMYI

Stock market didn’t like today’s earnings, despite record upstream performance.

Because a move to Edmonton, and its crazy write offs, which makes no business sense.

Could have easily right sized the corp and stayed in Calgary.

October 29, 2025

BY U.S. EPA

U.S. Environmental Protection Agency (EPA) issued three final Underground Injection Control (UIC) Class VI permits to ExxonMobil for a project in Jefferson County, Texas. Under the Safe Drinking Water Act, these permits allow ExxonMobil to convert three existing test wells permitted by the state to carbon dioxide (CO2) storage injection wells for long-term storage.

“Texas has successfully managed underground injection wells for decades while protecting drinking water, and I'm confident they'll continue this success with Class VI wells,” said EPA Regional Administrator Scott Mason. “These permits advance ExxonMobil's Rose carbon storage project, creating jobs and protecting health and the environment through advanced technology. EPA is committed to removing bureaucratic barriers to unleash American energy.”

“We appreciate all the work from the EPA, under the Trump administration, to issue these permits for our Rose carbon storage project. It marks an important step in strengthening America’s energy industry through safe, permanent CO₂ storage,” said Barry Engle, president of ExxonMobil Low Carbon Solutions. “We’ve worked diligently to meet or exceed the rigorous standards set. Carbon capture and storage projects will create growth, jobs and economic opportunity, and we’re pleased to play a leading role in advancing their deployment.”

Class VI injection wells store CO2 deep underground after it has been captured from an emissions source or the atmosphere. These Class VI permits allow ExxonMobil to inject an average of 1.1 to 1.67 million metric tons of CO2 per year into each well, with a maximum total of 5 million metric tons per year across all three injection wells. Over the 13-year injection period, ExxonMobil would be allowed to inject a maximum of 53 million metric tons of CO2.

EPA regulations require ExxonMobil to conduct comprehensive site analyses ensuring the wells protect the environment during construction and operation, including preventing drinking water contamination and human-induced seismic activity. EPA also mandates that all operational plans meet site-specific conditions, covering construction materials, mechanical integrity, and emergency response protocols.

EPA proposed to approve the permits in August of this year and took public comments and held a virtual hearing. The final permit documents, responses to public comments, and other finalized or updated documents are available on the docket.

https://carboncapturemagazine.com/articles/epa-issues-three-class-vi-permits-to-exxonmobil-in-jefferson-county-texas