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Texas Oil & Gas Firms Sheds Another 1,000 Jobs

Gasoil News - Published on Tue, 19 May 2020

Image Source: Texas Oil & Gas Coronavirus COVID-19
Houston Chronicle reported that companies in the oil, gas and related industries over the past week said they would cut 1,000 jobs in Texas as the effects of the historic oil collapse continue to ripple through the economy. Midland oil field service company ProPetro Services laid off a total of 392 people at a hydraulic fracturing facility and its corporate headquarters. Railcar manufacturer UTLX reported that the company plans to lay off 278 people at the company's plant off US Highway 90 in Houston in July. Oil field pipe manufacturer Tenaris laid off 200 employees at its seamless steel mill in Bay City on Monday. Houston oil field engineering, procurement and construction company Saulsbury Industries reported 73 layoffs split between facilities in Odessa and the East Texas town of Rusk.

Facing historically low crude oil prices and falling demand due to shutdowns related to the coronavirus pandemic, the oil and natural gas industry has shed nearly 33,000 jobs in Texas and six shale-production states since the beginning of the year

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Posted By : Yogender Pancholi on Tue, 19 May 2020
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