Chinese oil giants to avoid retrenchment
Hong Kong
CHINA'S biggest oil companies say they'll cut costs, but not employees.
As the collapse in crude prices curbs profits and prompts a wave of layoffs in the energy industry from Schlumberger Ltd to Royal Dutch Shell Plc, Chinese state energy giants say their employees are safe.
The oil-and-gas industry has cut more than 176,000 jobs globally this year and more reductions are likely, according to Swift Worldwide Resources. While eschewing those layoffs may avoid a repeat of protests early last de…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil rises as dollar slips, focus shifts to economic data
California to wrap up ExxonMobil plastics probe ‘in weeks’, AG says
Gold edges higher; hovers near one-week low on tempered Middle East fears
Why has gold’s inverse relationship with the US dollar reversed?
Oil futures fall as fears of a wider Middle East war fade
Malaysia’s Sapura Energy to sell stake in SapuraOMV to TotalEnergies for US$705 million