| 233K Global Energy Jobs Disappear on Oil Market Collapse | |
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Canada’s Husky Energy Inc. plans headcount reduction of 1,400, while Danish energy company Maersk Oil says it's cutting up to 1,250 jobs, or 12% of its workforce. Even the Biggies Aren’t Spared Trying to grapple with cheap oil, global behemoths like Chevron Corp. CVX and Royal Dutch Shell plc RDS.A have also disclosed plans to cut jobs. Chevron would be slashing 6,000-7,000 jobs, while Europe’s largest oil company Shell announced that it would axe around 6,500 positions. Nursing deep financial wounds from the oil market collapse, top oil servicing companies like Schlumberger Ltd. SLB and Halliburton Co. HAL have collectively shed roughly 15,000 jobs around the world. Not a Lot of Optimism About the Price of Oil The uncertainty of oil prices means that the future direction of the commodity’s movement is anybody's guess. However, fundamentals suggest that the odds are firmly stacked against an immediate turnaround. In the absence of production cuts from OPEC, the effects of booming shale supplies in North America, mounting worries about China’s crude demand, and a stagnant European economy, oil is likely to drift lower in range-bound trading in the short term at least, piling more misery on the beleaguered energy job market. And any further price falls – especially below the $40-a-barrel level – would have a significant impact on small to mid-tier companies, triggering another wave of job losses. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DEVON ENERGY (DVN): Free Stock Analysis Report CHEVRON CORP (CVX): Free Stock Analysis Report SCHLUMBERGER LT (SLB): Free Stock Analysis Report HALLIBURTON CO (HAL): Free Stock Analysis Report ROYAL DTCH SH-A (RDS.A): Free Stock Analysis Report NATL OILWELL VR (NOV): Free Stock Analysis Report CAMERON INTL (CAM): Free Stock Analysis Report MARATHON OIL CP (MRO): Free Stock Analysis Report SUPERIOR ENERGY (SPN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Marathon Oil Corporation
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CODE : MRO |
ISIN : US5658491064 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Marathon Oil is a oil exploration company based in United states of america. Marathon Oil is listed in United States of America. Its market capitalisation is US$ 23.4 billions as of today (€ 22.0 billions). Its stock quote reached its lowest recent point on August 13, 1982 at US$ 0.70, and its highest recent level on April 19, 2024 at US$ 27.50. Marathon Oil has 849 755 866 shares outstanding. |