Tuesday, January 14, 2025

Unemployment Rate Reaches 18-year Low

Oil & Gas industry gains 8,000 jobs in May The U.S unemployment rate has now dropped to 3.8%. Unemployment rates have not been this low since 2000, and the trajectory is down from double digit unemployment in 2009-2010 in the wake of the Great Recession.   In total, payroll unemployment decreased by 223,000 in May bringing the total number of

ExxonMobil Announces New VP of Investor Relations and Secretary

From Business Wire Exxon Mobile Corporation said today that Jeff Woodbury, vice president of investor relations and secretary, has elected to retire after 35 years of service. The board of directors has elected Neil Hansen, downstream controller, as vice president of investor relations and secretary, effective July 1. Woodbury joined Exxon Company USA in 1983 and has held various managerial

Rigs Up Again: Slight Increase Marks Ninth-Straight Rig Count Rise

1,060 rigs currently drilling; 929 are horizontal rigs Drilling activity in the U.S. rose by only one rig his week, but it was enough to continue the positive momentum, with overall net U.S. rig count showing growth for the ninth-straight week, according to Baker Hughes. A net one rig began drilling this week, a far lower increase than the 13

Strikes Rock Petrobras

Truck drivers, oil workers strike in Brazil; Petrobras CEO resigns Brazil’s national oil company Petrobras (ticker: PBR) has experienced significant turmoil over the past two weeks, as multiple labor actions affected operations. The roots of Petrobras’ current difficulties lie in its fuels policy, which shifted in 2016. Historically, the price of gasoline and diesel in Brazil has been subsidized and