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Tag Archives: Offshore Technology Conference

Energy producers weather historic oil market collapse

Energy producers weather historic oil market collapse

The oil market collapse has put more pressure on energy producers than ever before, causing an unprecedented financial crisis, according to industry officials. On average, an oil company earns only $26 for each barrel of oil sold at current oil prices, according to a report by the Houston Chronicle. In February, oil prices in the United States fell to a ...

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US oilfield jobs cull gains pace, more pain ahead

worker

Feb 13 – When Ian Sandlin was laid off last week after 13 months working on oil rigs in southeast Texas, he was surprised to have lasted that long. “I knew it was coming,” he said. “I wasn’t the first to be let go.” The 27-year-old Houston native is among thousands of workers caught in an accelerating cull of oil ...

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