- QatarEnergy selects Nakilat to own and operate 25 conventional LNG vessels
- The joint development of the Dorra field between Saudi Arabia and Kuwait is pending the demarcation of the border with Iran
- Minister of Energy reaffirms the UAE’s commitment to adopting clean energy and supporting the Paris Agreement
- The new Hassi Messaoud refinery enjoys the support of the government and President Tebboune
- Increasing electrical interconnection capacities to export electricity beyond borders
- Qatar Energy stops sending liquefied gas tankers through the Red Sea for security reasons
- The inauguration of the Duqm Refinery, the largest joint Gulf project in the refinery sector
- Saudi oil exports are faltering due to Houthi attacks on ships in the Red Sea and Gulf of Aden
- Algeria to host and chair the Gas Exporting Countries Forum summit (February 29 to March 2, 2024)
- Egypt Energy Conference and Exhibition 2024 gives a strong impetus to the global energy dialogue
ADNOC plans to cut 5,000 jobs by year end
The Abu Dhabi National Oil Co. (ADNOC) plans to cut 5,000 jobs by the end of the year, and 2,000 of the lay-offs have already been carried out, according to the Middle East news service MEED.
ADNOC has roughly 55,000 staff. Many companies in Abu Dhabi and elsewhere in the Gulf are trying to cut costs as low oil prices slow economic growth and pressure state finances.
An ADNOC spokesman, contacted by Reuters, did not confirm or deny the cuts but said: “In keeping with the entire oil and gas industry, ADNOC is constantly looking at ways to be more efficient and more profitable, particularly in the current market environment.”
“This is in line with our strategic goals of efficiency, profitability and performance,” the spokesman said.
Source: Arabianoilandgas.com
