Shell Nigeria Yudala
Halliburton cuts another 5,000 jobs

By News Express on 26/02/2016

Share on facebook Yahoo mail icon Gmail icon

Views: 983


Halliburton, the oilfield services giant, said Thursday it’s cutting another 5,000 jobs, or 8% of its global workforce, in a sign that the plunge in oil prices is continuing to take a brutal toll on the industry.

Halliburton already had laid off about 18,500 employees since 2014 as crude producers sharply scaled back drilling activity amid a 70% tumble in oil prices. In the fourth quarter, the company announced earnings of 31 cents a share on $5.08 billion in revenue, down from $1.19 per share on $8.77 billion in revenue in the year ago period.

There were 514 oil drilling rigs in the U.S. last week, down from 1,310 a year ago, according to oilfield services company Baker Hughes.

Crude producers and oilfield service companies have announced 259,000 layoffs since December 2014, including more than 60,000 this year, according to oil producer Continental Resources, which is tracking the cuts. Analysts had expected the layoffs to ease in 2016, but they showed no let-up as oil prices kept falling.

The price of West Texas Intermediate, the U.S. benchmark, rose 92 cents Thursday to settle at $33.07, the highest close since January 29, on speculation of a meeting among oil-producing countries to freeze or cut production. (USA Today)

•Photo shows Halliburton CEO, Dave Lesar.

Source News Express

Posted 26/02/2016 06:06:55 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
African Basketball League set for launch in Lagos...

FG saves $5 billion from scrapping of oil...

Benue Governor queries predecessor over N600 million debt...

2,608 soldiers reported dead in eastern Ukraine

Lagos begins sale of forms into model colleges...

Nigerian SCHOOLGIRL, 14, GANG-RAPED INTO COMA

Poor marks for Buhari over abducted Chibok girls...

Be concerned with change mantra, not Buhari's wealth,...

NIMASA, Customs partnership will help Nigeria’s economic progress...

What Mandela’s death means to me —Tony Elumelu...

Why Enugu Deputy Governor collapsed during impeachment panel...

2015: Jonathan, Alaafin in secret talks

 

Latest News FG recovers N37b, $666m from looters French voters want Obama as President Bwari Abuja residents cry out over electricity woes, accuse AEDC of overloading transformer FUT Minna expels 44 students Donors pledge $672m to tackle Boko Haram crisis Supreme Court upholds expulsion of suspended Assemblies of God General Superintendent Lagos State Government canvasses increased attention for manufacturing sector British Army pledges assistance towards ending insurgency in Nigeria’s North East Political blunders by South-East APC Leaders, By Innocent Ebirim Okadigbo Police arraigns 85-year old man for giving false information RIWAMA embarks on massive cleaning of Rivers canals Court discharges arrest order on Osun monarch, secretary

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (229,632 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (208,813 views) Shameless Genevieve Nnaji exposes breasts in public (173,743 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (160,520 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (147,063 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (130,771 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (114,497 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (114,420 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (101,875 views) Lagos plane crash: Journalist releases victims’ names (97,640 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (92,528 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (81,575 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (26) Business (2,466) Business Verdict (14) Columnists (634) Complaints & Requests (81) Enterprise & Opportunities (138) Entertainment (288) Features (387) Global Business Monitor (138) International (1,272) Interviews (113) Live Commentary (28) Love Matters (41) News (21,762) Opinion (648) Pidgin (8) Politics (3,580) Religion (481) Sports (1,232) Stock Watch (12) AMA & Al Jazeera Global Update

 

 

CBN Advert

 

Tuface Idibia Cancels February 6 Planned National Protest

 

APO Newsbreak logo

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!