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Page added on June 8, 2020

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BP to cut 10000 jobs worldwide amid virus pandemic

Oil and gas company BP announced Monday that it will slash its global workforce by 10,000 jobs as the COVID-19 pandemic slams the energy industry.

Chief Executive Bernard Looney said that the cuts will affect office-based roles in BP’s global workforce of 70,000 people and come mostly this year. The changes are expected to significantly affect senior levels, cutting the number of group leaders by a third.

“We are spending much, much more than we make – I am talking millions of dollars, every day,” Looney said in an email to staff that revealed that net debt rose by $6 billion in the first quarter. “We have to spend less money.”

He pledged to bring down capital expenditure by 25% this year, a reduction of around $3 billion. He also said that it costs $22 billion a year to run the company, including $8 billion in people costs.

“So we are driving down those operating costs by $2.5 billion in 2021 – and we will likely have to go even further,” he said.

The job cuts come at a time of tremendous change for London-based BP. It had already embarked on a restructuring plan to ensure its long-term viability as the world decreases its reliance on fossil fuels in an effort to fight climate change. BP wants to eliminate or offset all carbon emissions from its operations and the oil and gas it sells to customers by 2050, an ambitious target.

The wider energy industry has meanwhile been hit hard by the pandemic as the widespread limits on business, travel and public life reduced the need for oil, gas and other fuels.

Supply of oil and gas was particularly high when the outbreak began, creating a perfect storm for the industry. With storage facilities filling up, the U.S. price of oil went below zero in April for the first time ever.

“To me, the broader economic picture and our own financial position just reaffirm the need to reinvent BP,” Looney said in the email. “While the external environment is driving us to move faster – and perhaps go deeper at this stage than we originally intended – the direction of travel remains the same.”

The U.S. contract for crude oil began the year at over $60 a barrel, collapsed to below -$37 in April and recovered to about $39 a barrel as of Monday as OPEC countries agreed to limit production.

David Elmes, who leads the Global Energy Research Network at Warwick Business School, said BP’s cuts are symptomatic of the wider challenges facing the industry, with firms in the sector thinking about cutting costs.

“BP and the other European-based international companies have already said they will become less focused on oil and gas over time,” he said. “If this situation continues, there will be intense discussions about what can they do to move faster.”

Major companies like BP with diversified businesses are likely to survive the pandemic, but smaller oil producers are going to have a harder time, analysts say.

U.S. shale companies in particular took on a lot of debt to finance operations and can only make ends meet at about $40 a barrel. Heavily-indebted companies will have to refinance at a time of capital constraint.

Some companies are already going under. Whiting Petroleum, a shale producer, filed for bankruptcy protection in April, for example followed by Diamond Offshore Drilling. More are expected.

PR Peak



57 Comments on "BP to cut 10000 jobs worldwide amid virus pandemic"

  1. SocialRevolutionComing on Mon, 8th Jun 2020 1:23 pm 

    I was watching the daily COVID hoax propangada, Comme on dit en Français, la panic est pognée.

    You can see the panic eyes of Hancook in during his COVID hoax briefing this morning. They are now in a rush to ease lock down rules. Québec and UK are now easing lockdown rules, a day after BLM protest. Comments form UK are good. Nobody believes them.

    https://www.youtube.com/watch?v=oU7bYfNQ2tM

  2. makati1 on Mon, 8th Jun 2020 5:37 pm 

    Go for it! The shit is hitting the fan all over the West. The layoffs/firings are not over. Not even close. The East is already climbing back to normal, as the West is shutting down stores and business’ in growing numbers. The bankruptcy lawyers will be busy for years as the Greater Depression becomes too obvious to ignore.

    Did you know that the US has five times the shopping space per consume as most other Western countries? So…it can lose 80% of that space and still have enough. But what happens to the millions of employees with no future? And what happens to the owners of that 80% when it is empty and not paying the mortgage? Hmm? Interesting times ahead that will make this year seem like a cake walk. Wait and see. Are YOU prepared?

  3. SocialRevolutionComing on Mon, 8th Jun 2020 5:52 pm 

    The west is irrelevant now. It is hold together with lies and only lies. For sure 2020 is an interesting year. In Europe,UK and France are socially disintegrating in front of people eyes.

    Every day,is a now a clown show day.

  4. I AM THE MOB on Mon, 8th Jun 2020 6:38 pm 

    The scientists have run away,, they no longer know what to say. The government are in disarray, spouting nonsense everyday. Oh corona oh corona……

  5. claes on Mon, 8th Jun 2020 7:00 pm 

    SocialRevolutionComing . Maybe the west is irrelevant, but so i china. The riots we se in america is also happening in china. Look at xinjiang, look at tibet, look at taiwan.
    The Han-people’s dominance over their neighbors are not seen with friendly eyes of those who are suppressed.

  6. makati1 on Mon, 8th Jun 2020 7:16 pm 

    claes/Davy, give it up! We ALL know you are a brainwashed Sinophobe. China will have an economic growth this year, whereas, the US economy will be contracting by double digits. Meanwhile the Fed presses will be printing ever more worthless pieces of paper until it all goes BOOM!

    Enjoying the show from the cheap seats on far shores. Pass the popcorn…

  7. makati1 on Mon, 8th Jun 2020 7:18 pm 

    I am sorry Davy, you are not claes. I am being an asshole

  8. claes on Mon, 8th Jun 2020 7:42 pm 

    SocialRevolutionComing , China is for the moment being the most aggressive country in the world. They are openly threatening Taiwan and india. Less openly they are threatening all countries along the fake “nine dot line”
    China must be condemned as being imperialistic and aggressive towards it’s neighbors. They must also be condemned as being racist, as they are suppressing all other cultures than the han-culture. If you support the “han-culture imperialism” you will be seen as a han-supremacist and an awful racist, I guess you wouldn’t like that at all

  9. claes on Mon, 8th Jun 2020 7:49 pm 

    mak, you are not an asshole. If it wasn’t for you nobody would answer my comment. So thank you for being you. love claes

  10. makati1 on Mon, 8th Jun 2020 7:58 pm 

    Since the children are still here, posting in other’s names, I am gone for a while.

    BTW: MY last post here was 7:16pm.

  11. REAL Green on Mon, 8th Jun 2020 8:43 pm 

    All the childish posts were from Davy mak.

    Hes still having a real hard time controling his lunatic widdle self.

  12. JuanP on Mon, 8th Jun 2020 8:49 pm 

    Don’t waste any more time. You can still make some preps. At least stop wasting money on things you don’t need. You dislike the system? Stop supporting it then!

  13. Davy on Mon, 8th Jun 2020 9:51 pm 

    So true JuanP. So true.

    Old freind

    Miss you lots. xxx ooo

  14. REAL Green on Tue, 9th Jun 2020 12:33 am 

    Don’t beleave any thing davy says JuanP. He always gets real compashionate like when he first gos back on his meds. Hell likely be back to his same ol usual shit fer brains self in the morning. And we thanks you fer all the hard wurk you do fer America. Yer a good man JuanP.!

  15. Theedrich on Tue, 9th Jun 2020 2:52 am 

    The ChiComs know how to handle Islam. The Turkic Uighurs fancy themselves as chosen by Allah (where did they pick up that idea?) and have long rebelled against the Han government.  Like the rest of the wacko Mohammedan world, they are convinced that suicide bombings will destroy the Middle Kingdom and give them control of the earth.

    In America and its vassals, that Islamicist idea, like “Black Lives Matter,” is accepted with great reverence as the word of the Christian God meant for eternally guilty Whites.  The Chinese Communist nation is attacked for the fact that it does not submit to raucous demands by anti-Chinese fanatics to commit suicide.  How terrible of the Beijingers!  Goodness gracious!

    Whatever else one may think about the rulers in Beijing, one cannot accuse them of being spineless like the bribe-ocrats who run America.  Although money necessarily plays a large part in Chinese affairs, it is not the supreme principle on which all else is based.  The Chinese do not intend to let the planet dissolve into the subhuman chaos falsely labeled “freedom and democracy.”  The Uighurs imagine that, by calling on bathos-filled America to liberate them, they will achieve their goal of planetary conquest by Muslims.  They have no idea that genosuicidal Yankeeland is mortally afflicted with Negroid diarrhea and can no longer help anyone.  Or that the Chinese rightly regard their cornholing religion with contempt.

  16. Abraham van Helsing on Tue, 9th Jun 2020 3:05 am 

    One of my favorite sources of information from the inside of the US is a video-blogger named Laurel Scott:

    https://www.youtube.com/watch?v=L71ajeboY4k

    See 46:15 how a random white guy is beaten up by blacks.

    She has no illusions about how this will end (CW2) and has a series of professional collapse videos about how the world could develop in the coming decade. Channel:

    https://www.youtube.com/user/LaurelScott

    Here RamzPaul about dissolving the Minneapolis police department:

    https://www.youtube.com/watch?v=AHSs5LpFjBo

    Hint: it is going to be replaced by an anti-white federal police, that has zero ties with the local population of Minneapolis.

  17. Abraham van Helsing on Tue, 9th Jun 2020 3:06 am 

    So who was George Floyd anyway?

    https://documents1940.wordpress.com/2020/06/09/who-is-george-floyd/

  18. SocialRevolutionComing on Tue, 9th Jun 2020 5:49 am 

    UK Column have a good youtube show today. They about taking the knee, the World Economical Forum where all this COVID hoax propaganda is comming.

    https://www.youtube.com/watch?v=btObOw2MEls

    They have now starting their depopulation agenda. UK Column talk a little about what is going on in old care homes.

    By closing the hospitals for the COVID hoax , they stop treatment for caner patients and all kind of surgeries therefore depopulate the world of people they judge non-essential and create immense suffering for people waiting for a knee surgery for example.

    I don’t know if the hospitals are closes because of the lack of net positive energy or because globalists hiding under the World Economical Forum wants it.

    Kill globalists Elites, Rich globalists and globalists politician like Merkel in public execution, They deserve it plain and simple.

    They collapsed the whole world supply chain with this COVID hoax, therefore they deserve death for crimes against humanity.

  19. Davy on Tue, 9th Jun 2020 5:51 am 

    The lunatic is up and wanting to get in on the conversation with one of his personalities:

    SocialRevolutionComing on Tue, 9th Jun 2020 5:49 am

    Yo, luntic, when will you start the ID theft? fuck wak

  20. Davy on Tue, 9th Jun 2020 5:53 am 

    Ahmaud “muzzie” Arbery on Tue, 9th Jun 2020 1:19 am

    SocialRevolutionComing on Tue, 9th Jun 2020 5:49 am

    Lunatic, you are not getting much sleep. Is this because of your chronic depression?

  21. SocialRevolutionComing on Tue, 9th Jun 2020 6:16 am 

    Wrong link in my comment above. Here is the right link

    https://www.youtube.com/watch?v=EPOkhCCl7ck

  22. SocialRevolutionComing on Tue, 9th Jun 2020 6:44 am 

    Lawrence Wong on living with COVID-19 for the long haul | National broadcast

    https://www.youtube.com/watch?v=Bu5A2JTYCQA

    globalists propaganda from Asia. Asians are more straight forward with propaganda. He is saying that we would be lied to forever.

  23. SocialRevolutionComing on Tue, 9th Jun 2020 7:46 am 

    Manifestations contre les violences policières à travers l’Afrique

    https://www.youtube.com/watch?v=ZtTjbD85tuo

    Protests against police violence across Africa

    Wow, a Black guy killed in US, has stared protests through the whole world even Africa. We are watching the whole word descend into chaos and violence, exactly like I predicted.

  24. Abraham van Helsing on Tue, 9th Jun 2020 8:16 am 

    There goes Nelson, Rhodes, Cromwell and the rest of British history:

    https://www.dailymail.co.uk/news/article-8401935/Sadiq-Khan-calls-Londons-slave-trader-statues-removed-orders-landmarks-review.html

    “Black Lives Matter supporters compile a list of 50 UK ‘racist statues’ they want pulling down as Sadiq Khan calls for ALL London’s slave trader landmarks to be removed“

    Excellent, they are making themselves impossible, creating the pretext to get rid of George Soros his dark shock-troops (and if course give the Sonderbehandlung/Special Treatment to Soros and his globalist ilk as well). Now it is us or them. Prepare for the rivers of blood, they are inevitable.

    Even our Dutch liberal foreign minister Stef Blok was caught saying in private that he was not aware of any multi-racial society that did NOT end in bloodshed:

    https://youtu.be/NHRon64z9-M

    He still has his job, albeit with some minor uproar.

  25. SocialRevolutionComing on Tue, 9th Jun 2020 8:22 am 

    Of all the nations of Europe, UK is the biggest shit hole of all them. Cannot believe what I am reading and watching coming out of UK. Where are the Whites people. It is full of paki and Arab and Somalians.

    Sweden look like a paradise compare to UK

  26. joe on Tue, 9th Jun 2020 8:32 am 

    Whites have been told stay home, control the virus, save lives.
    Looks more and more like ww3 outside. I guess it’s harder for sharks to swim concealed from fishermen if the fish are at home.
    Footage I saw of ‘BLM’ pulling down statues had very few masked black faces should be called the ‘bluff Labour Movement’.

    BLM USA is a neoFacist group who use radical slogans and outrageous acts to demoralise Americas youth. The sooner that Alphabet, Twitter, Facebook etc get broken up in antiTrust and get recatagoised as publishers the better. This tiny minority is getting air breathed into its fires by the left who fear Trump more than blm. Nicholas the 2nd, made a similar mistake….

  27. Abraham van Helsing on Tue, 9th Jun 2020 8:34 am 

    Here is a nice statue that can be thrown in the Thames with little effort:

    https://en.wikipedia.org/wiki/Statue_of_Nelson_Mandela,_Parliament_Square

    Or this tomb:

    https://en.wikipedia.org/wiki/Tomb_of_Karl_Marx

    Another candidate for a dive in the Thames:

    https://www.westminster-abbey.org/abbey-commemorations/commemorations/martin-luther-king-jr

    Or these:

    https://en.wikipedia.org/wiki/Rothschild_Bronzes

    Or the statue of the media baron Israel Beer Josaphat:

    https://en.wikipedia.org/wiki/Paul_Reuter

    The list goes on and on.

  28. Abraham van Helsing on Tue, 9th Jun 2020 8:43 am 

    “BLM USA is a neoFacist group”

    Or spare me your intellectual lightweight, meaningless slur “fascist”, you falsifier of history!

    Fascism is a fine Italian nationalist movement, intended to preempt communism (the great Anglo-Zionist ally against European civilization, remember?) and killed less then 10 people in Italy throughout its entire 20 years of existence.

    BLM is a communist movement, this time directed against white Anglos. Hitler is howling for laughter in his grave.lol

  29. Abraham van Helsing on Tue, 9th Jun 2020 8:51 am 

    “Nicholas the 2nd, made a similar mistake”

    The only real mistake Nick2 made was letting the British talk him into a war with Germany:

    https://documents1940.wordpress.com/2020/02/13/britain-masterminded-ww1/

    While the darkies are demolishing Britain, we on the continent are going to thoroughly rewrite the history of WW1 and WW2, not necessarily to joe esquire’s liking.

    https://deepresource.wordpress.com/2015/03/24/risk-geopolitics/

  30. Anti-American derangement on Tue, 9th Jun 2020 9:33 am 

    “BLM USA is a neoFacist group who use radical slogans and outrageous acts to demoralise Americas youth.”

    You deranged eurotards don’t realize it but the US is a huge place. The BLM fucks are having success with the extremist liberal snowflake fucks but much of the country has better things to do like make a living. These liberal fucks and their unemployed on welfare BLM fucks need activity so they are tearing the blue liberal areas apart and the liberal extremist ident fucks love it. So, let them play their games. They are not really hurting much. The damage is not anything like a hurricane in monetary value of damage done. Look at home eurotards you have plenty to worry about. This is especially true of you uncle joe. England is a friggin mess. Talk about a fucked up place.

  31. Lunatic Morning Announcement on Tue, 9th Jun 2020 9:34 am 

    Davy on Tue, 9th Jun 2020 5:51 am

    “The lunatic is up and wanting to get in on the conversation”

  32. Abraham van Helsing on Tue, 9th Jun 2020 9:34 am 

    It’s a big club and you ain’t in it!

    https://www.dailymail.co.uk/news/article-8401537/Coronavirus-UK-Government-set-DROP-14-day-quarantine-policy-end-month.html

    “Hopes of a Spanish holiday fade: Spain isn’t discussing ‘air bridges’ with the UK and instead wants EU-wide agreement – as Government is ‘set to DROP 14-day quarantine by June 29’ and Ryanair bookings for Mediterranean breaks DOUBLE in a week“

  33. Abraham van Helsing on Tue, 9th Jun 2020 9:38 am 

    A fresh Kunstler column, as always a home-run:

    https://kunstler.com/clusterfuck-nation/requiem-for-george-floyd/

  34. Zero juan on Tue, 9th Jun 2020 9:47 am 

    Zero juan Lunatic Morning Announcement on Tue, 9th Jun 2020 9:34 am

    Tue, 9th Jun 2020 5:51 am

    “The lunatic is up and wanting to get in on the conversation”

  35. Davy on Tue, 9th Jun 2020 9:49 am 

    Fuck fucking fucked fucks fucking fucked fucking fucks.

    So there!

  36. Abraham van Helsing on Tue, 9th Jun 2020 10:32 am 

    White Dems governor of Kentucky announces 100% free healthcare for BLACK Kentuckians.

    https://www.kentucky.com/news/politics-government/article243373171.html

    (To be paid for by you, you white fool).

    He is a hard-core Christian. Christian Church (Disciples of Christ).

    Small sign of things to come, once the Dems will have won the presidential elections, the rest of the bills will come in to achieve full economic egalitarianism.

    You think the USSR can’t happen to you? Think again, Yankee.

  37. Abraham van Helsing on Tue, 9th Jun 2020 10:48 am 

    RamzPaul on how to defeat the system:

    https://www.youtube.com/watch?v=2LEhwiLiRJ8

    I should add: NEVER show despair or some other form of defeatism. The system is approaching end-of-life anyway and will collapse under its own weight.

  38. BLM on Tue, 9th Jun 2020 11:38 am 

    i miss whitey supertard jay hanson, i read his dieoff.org web site and then bought whitey supertard richard heinberg’s book “the party’s over” in an obscure section of the univerisity bookstore.

    I appoint whitey supertard jay hanson posthumumously president.

    I appoint supertard richard heinberg president

    circumstances surrounding whitey supertard president hanson’s dead in a muzzie country is suspicious.

    both presidents’ title is “the lover” (of supremacist muzzies)

    I appoint darkie supertard Ahmaud “muzzie” Abery posthumously president. may he be in company of muhammad the pedifiler and 72 virgins.

  39. Zero juan on Tue, 9th Jun 2020 11:43 am 

    JuanP on Tue, 9th Jun 2020 9:49 am

    “Fuck fucking fucked fucks fucking fucked fucking fucks. So there!”

  40. Zero juan sock on Tue, 9th Jun 2020 11:46 am 

    BLM on Tue, 9th Jun 2020 11:38 am

    zero brains juan

  41. JuanP Derangement Syndrome on Tue, 9th Jun 2020 11:49 am 

    Zero juan (Davy) on Tue, 9th Jun 2020 11:43 am

    Zero juan sock (Davy) on Tue, 9th Jun 2020 11:46 am

  42. Abraham van Helsing on Tue, 9th Jun 2020 1:19 pm 

    I like to screw LED bulbs in my arse.

  43. Abraham van Helsing on Tue, 9th Jun 2020 1:32 pm 

    UK-LibDem grande professes Trump win:

    “I’m sorry to tell you this, but Donald Trump is going to win a second term as president“

    “My 50 years in electoral politics has taught me to expect the unexpected, writes Vince Cable. The president may be a blowhard, but he has kept American soldiers out of body bags“

    https://www.independent.co.uk/independentpremium/voices/trump-us-election-second-term-joe-biden-black-lives-matter-a9556101.html

  44. Abraham van Helsing on Tue, 9th Jun 2020 2:30 pm 

    And another statue bites the dust: Robert Milligan

    https://www.dailymail.co.uk/news/article-8401935/Sadiq-Khan-calls-Londons-slave-trader-statues-removed-orders-landmarks-review.html

    “Workmen remove monument to 18th Century slave dealer Robert Milligan on wharf he helped construct in London’s docklands – after protesters’ draw up hit list of 60 ‘racist statues’ on day of Black Lives Matter protests across Britain“

    Darkies taking over Anglosphere seemingly unopposed and the youknowwho are laughing behind the curtain.

    To the credit of the British, 200 did show up and prevented a black assault against their icons:

    “They were met by a horde of angry locals, who numbered around 200 and hurled abuse at them“

    Hopefully an armed resistance develops from this.

    It has been peace for far too long, time for a good war.
    Let’s initiate the end of the end of history. (“the end of history” is a self-serving US wet dream). War is so much more interesting than configuring your iPhone.

  45. Abraham van Helsing on Tue, 9th Jun 2020 2:44 pm 

    One is remembered of the Dutch “beeldenstorm” (“statue storm”) of 1566, that initiated the Dutch-Spanish 80-years war, that ended with a Dutch-Protestant victory over Spanish-Catholic victory:

    https://en.wikipedia.org/wiki/Beeldenstorm

    The Protestants scored a major moral victory by taking down the symbols of the Catholic enemy.

    The purpose of the coming war must be:

    1. liberation from empire, if necessary with Russia and China
    2. removal of non-Europeans from Europe, horizontal or vertical, by forcing them in a war. Africa for the Africans!
    3. the final eradication of Christianity from Europe and return to classical, life-affirmative values

  46. Abraham van Helsing on Tue, 9th Jun 2020 3:25 pm 

    The Pointer Sisters or how American blacks turned from Americans into Africans in a matter of 4 decades:

    https://youtu.be/KNi8aW8Nf6s

  47. Spare Me the Drama on Tue, 9th Jun 2020 5:42 pm 

    “The Pointer Sisters or how American blacks turned from Americans into Africans in a matter of 4 decades”

    the cloggo is the queen of junk thought.

  48. The cloggo on Tue, 9th Jun 2020 5:44 pm 

    “One is remembered of the Dutch “beeldenstorm” (“statue storm”) of 1566, that initiated the Dutch-Spanish 80-years war, that ended with a Dutch-Protestant victory over Spanish-Catholic victory”

    Reminiscing when my country was more than just a postage stamp on the edge of the rising seas

  49. Anonymouse on Tue, 9th Jun 2020 6:00 pm 

    davytard, aka ‘the cloggo’, cloggedAnus is no more ‘dutch’ than you are a successful intelligent farmer\expert on everything under the sun, with huge tracts of land and herds of happy well-cared for animals, ok?

    Reminiscing about something he is not, is the same as you reminiscing about your mythical life and status as a successful world traveler and doomsteader. You’d think youd figured that out by now, but, naw, too stupid.

    And you can insult cloggjude with you own name you know. He don’t mind and it doesn’t fool anyone else so, why bother?

  50. Cloggie Deranged Lunatic on Tue, 9th Jun 2020 6:18 pm 

    Spare Me the Drama (Davy) on Tue, 9th Jun 2020 5:42 pm

    The cloggo (Davy) on Tue, 9th Jun 2020 5:44 pm

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