Aker BP will announce redundancies after Easter

Following the announcement that investments will be reduced, employees at Aker BP will be informed how many must leave the company due to lower activity, among other things. This will happen after Easter, and suppliers will also be hit.

Aker Solutions CEO saw major pay cut in 2019

After going through an already strained period, oil service firm Aker Solutions has seen a significant downturn in economic activity since the coronavirus broke out, as is evident in the annual report, which also reveals a major pay cut for CEO Luis Araujo.

Total fights against corona: "We've launched extensive measures"

Oil supermajor Total's Danish subsidiary has launched "extensive measures" in the fight against coronavirus, says Managing Director Patrick Gilly. The company has "a very low number of confirmed covid-19 cases, and the few affected persons are currently in quarantine."

Shell curbs buyback, cuts spending forecast

Shell will not continue with the next phase of its buyback program and thereby joins a growing list of energy majors initiating cost savings to weather the current market crisis.

British oil industry expects significant investment decline

Investments could drop by up to 30 percent in the British oil and gas sector during 2020, industry association predicts, as a result of the coronavirus and a dramatic drop in the oil price. The sector is in a "paper-thin" position, CEO says.

Equinor assembles corona crisis team

After several cases with staff either infected or quarantined, Norwegian oil firm Equinor now initiates emergency procedures to handle the consequences of the coronavirus.

Dramatic week for shipping and rig companies comes to a close

Coronavirus and a dispute over the oil price between Saudi Arabia and Russia triggered significant price drops on stock exchanges in the past week. Danish and Norwegian shipping and offshore shares also took a tumble. But one sector in particular saw share prices going up.

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