Oil price crash: Saudis told to embrace austerity as debt defaults loom
Kingdom faces a future of higher taxes and low fuel subsidies amid fears the world’s weakest oil producers will soon begin to buckle. Source: Oil price crash: Saudis told to …
Oil Prices Still Going Down, What is the absolute rock bottom?
“Could Oil Prices Go To $10/Barrel?” was posted yesterday asking what is the absolute rock bottom price for oil. There are lots of responses to the question. But to sum …
EPC Companies to Layoff Workers
The slump of commodity prices are forcing EPC companies to cut cost by laying off workers. WorleyParsons to shed 2000 jobs Amec cuts 2500 jobs to boost margins Petrofac, Amec …
Non-stop Sacking of Workers – Job Security is History
The sacking of workers from Oil & Gas and Mining sector never stop. It has been happening since a few years back. When will it ever stop? The slump of …
Marshall Islands Registered Vessel Seized
A US government official told Reuters the Marshall Islands-flagged vessel was intercepted by Iran’s Islamic Revolutionary Guard Corps’ (IRGC) Naval force at 0905 GMT (0405 ET). Earlier Tuesday, Saudi Arabia-owned …
Huge LNG Facilities Going Online Will Drop Oil Prices Further
In the next few years, huge LNG facilities will force the already bottom line oil prices to further down. 2015 PFLNG 1 – 1.2 million tonnes per annum (mtpa) of …