Although the oil crisis has been declared over by numerous stakeholders and the oil price over the past half year has stabilized to approximately USD 50 per barrel, it is not all celebration among oil companies.
The oil industry's "new normal" in terms of long-term oil prices is far from the highs of yesteryear, and this has now pushed French oil major Total to drastically reduce its staff in Norway. 115 to 140 of Total's 400 Norwegian employees will be fired, writes industry media Sysla.
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