ShippingWatch

France's Total makes big cuts in Norway

French oil major Total is dismissing up to 140 employees in Norway. The company's Norwegian activities will also be reduced by up to 25 percent.

Photo: Harald Pettersen - Statoil

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.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Product Tankers expects 2022 to be "not an amazing year"

There’s no doubt that 2021 was a miserable year for the global tanker industry. But 2022 could end up strong, many parties say. Maersk Product Tankers is more doubtful. ”2022 won’t be an amazing year,” CEO Christian M. Ingerslev tells ShippingWatch.

Researcher criticizes TotalEnergies' fuel report

TotalEnergies ignores shipping’s climate adaptions in the company’s prognosis for shipping’s future fuel consumption, researcher says in criticism. Among other things, TotalEnergies supports LNG.

OOCL doubles revenue despite significant drop in volumes

Container line OOCL, owned by China’s Cosco, doubled its revenue in 2021, with the top line for Q4 alone surging by 101.4 percent, the carrier says. This major increase happens despite a dive in container liftings during the quarter.

Further reading

Related articles

Latest news

See all jobs