Dynacorp Sets New Internal Safety Records

Workplace safety

Dynacorp Fabricators Inc. is pleased to announce that on May 23, 2016 the company passed two significant milestones on its journey towards becoming an injury free workplace. Dynacorp is celebrating operating company-wide for three years Lost Time Incident Free and for one year Medical Incident Free. These outstanding achievements underscore Dynacorp’s firm commitment to safety and demonstrate that the company …

Industry expected to shed 24,400 jobs in 2016

A new report by PetroLMI, a division of Calgary-based Enform, predicts the oil and gas industry will continue to shed tens of thousands of jobs this year. The study said that the industry will not return to its 2014 employment peak even after the economy comes back. It predicts another 24,400 oil and gas jobs will be lost this year, …

Kuwait oil strike improves stocks

Striking oil workers in Kuwait have caused the price of oil to climb by more than 3%. The strike has nearly cut Kuwait’s oil production levels in half now that workers are in their third day off the job. Workers are protesting against planned public sector pay reform. In March, the country produced 2.8-million bpd. During the strike, output has …

Saskatchewan Premiere Brad Wall wins re-election

Saskatchewan Premiere Brad Wall has been reelected in his province for another term. The Saskatchewan Party had a sweeping victory, captured just under 63% of the vote. The next closest party was the NDP who took 30% of the vote and won 10 seats. Wall has been an avid oil and gas advocate for the province. Since 1938, only two …

Murphy Oil to make job cuts in Calgary

Murphy Oil has announced it will be making significant cuts at its Calgary office as well as throughout its worldwide operation. The company reduced capital spending by 75% in 2016 compared to the year before. “We’ve reduced headcount across all functions and in every location,” said spokeswoman Kelly Whitley. She added that the unknown number of cuts would be made …

Terra Energy shuts down after bank calls in loan

Terra Energy Corp., a Calgary-based energy producer, has shut down following an act from the bank seeking to recall a $15.9-million loan. Under the federal Bankruptcy and Insolvency Act, Canadian Western Bank flexed its right to recall the loan plus interest, costs and fees. The company has until Monday to repay. This crippling blow comes as the company was already …

Encana announces 20% workforce cut

Encana Corp. has announced it plans to cut its workforce by 20% this year. Last year, the company already laid off 19% of its employees. It’s expected another 500 employees will be released over the course of 2016. “The job reductions not only at Encana but across the industry have been as severe as I’ve ever seen in 33 years,” …

Prime Minister Trudeau arrives in Alberta

Prime Minister Justin Trudeau will arrive in Alberta on Wednesday to address the ailing economy in the province. Despite his visit, it’s not expected Trudeau will be able to make any promises to Albertans until the federal budget in March. Assistance to the province could include employment insurance changes or a financial stability program. He’s scheduled to spend time in …

Chevron looses money in a quarter for first time since 2002

For the first time in over a decade, Chevron lost money in a fiscal quarter. The company has been profitable in every financial quarter since 2002 until now. Chevron reported on Friday that it lost $588-million in the fourth quarter, compared to a profit of $3.47-billion in the same quarter of the year previous. Chevron has so far sold off …