"We have taken several significant steps as a company to strengthen our position, including reducing our capital spending and future deepwater exploration program. However, the workforce reductions are necessary to become a stronger, more competitive company."Look out in 2020, if not sooner. And then Congress will call for investigations why the price of oil is so high.
Tuesday, September 1, 2015
Setting Us Up For $200 Oil -- COP To Get Out Of Deep Water E & P -- September 1, 2015
They can't "turn on a dime" in the ocean. Fox 2 Houston is reporting that COP will lay off 10% of its workforce, most of it in North America, and most of it related to "deep water." From the company:
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