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More Texas jobs lost to oil bust
Image: Mike Mozart via Flickr

More Texas jobs lost as oil bust continues

More than 1,100 Texas jobs have been cut in the past few weeks, according to reports by the Texas Workforce Commission.

Oil major BP plans to cut at least 500 jobs in Harris County this year. The layoffs are expected to happen in June at three Houston locations. BP spokesman Jason Ryan said about 4,000 total upstream jobs will be eliminated in 2016.

“The notifications that we are making in the Houston area are part of that plan,” Ryan said. “This is what is required to adapt to the protracted low oil price environment, and BP is taking the steps necessary to reduce costs and ensure we are structured to compete as efficiently as possible.”

BP has sold about $10 billion worth of assets since October 2013 and plans to sell another $3-5 billion by the end of this year.

Trinity Rail, a subsidiary of Dallas-based Trinity Industries, announced plans to cut 608 positions in its tank car division. In February, the company told investors that it saw record revenues in 2015, but the outlook for 2016 looked much bleaker.

Cudd Energy Services will eliminate 60 jobs in Bexar County and Rotary Drilling Tools will cut 65 jobs in Fort Bernd County.

Maersk Oil announced last week that it will close its Houston office.

The Denmark-based company also reduced its operations in Angola due to “challenging market conditions for deepwater developments.”

About 100 total staff positions will be cut across the two sites. 60 employee and contractors positions will be affected in Houston and 40 positions will be impacted in Luanda, Angola.

The company said its non-operated activities in the Gulf of Mexico, run from its Houston office, will be transferred to Maersk’s Copenhagen headquarters within the next few months. The decision was made to reduce capital expenditure.

In related news, Anadarko cutting spending almost in half, selling assets.

One comment

  1. yup…..Saudi Arabia n’ Russia, along w/ other OPEC members, have deciced that America needn’t hire American workers…..and we just plaaaay long, not even placing a tariff on the imports necessary to keeping American workers working…..pah

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