The U.S. oil firm has informed staff of the planned reduction to its Canadian workforce
Author of the article:
ConocoPhillips is set to announce job cuts in Canada’s oil patch on Tuesday, the company said in an email, the second year in a row it is laying off employees.
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
The U.S. oil firm has informed staff of the planned reduction to its Canadian workforce, spokesman Dennis Nuss said. The cuts will affect employees and contractors. ConocoPhillips laid off workers late last year in Canada after announcing it would reduce its roughly 13,000-strong global workforce by 20 per cent to 25 per cent.
“We routinely review our organization to align with our long-term strategy, operate safely and efficiently, and remain well-positioned for future opportunities,” Nuss said.
The Canadian oil industry is preparing for an expected growth period that may rival the production expansions of the decade between 2005-2015, when oil was also trading above $100 a barrel. The current growth is expected to be driven by multiple planned export pipeline expansions, including a new million-barrel-a-day conduit running from Alberta to the B.C. coast.
ConocoPhillips operates the Surmont oil sands site, which produced about 157,000 barrels a day last month, the fourth-largest in-situ oil sands well site, according to Alberta Energy Regulator data. The company is also an active driller in the Montney tight oil and gas formation in western Canada and eastern British Columbia.
Join the Conversation
This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.