OIL GIANTS SLASH JOBS
TRINIDAD and Tobago’s economy continues to bleed oil and gas jobs amid low prices, with two of the country’s largest energy producers confirming they will be sending home workers.
Producers BPTT and BHP Billiton—which said it was facing extremely challenging conditions—announced they were cutting jobs. BPTT and BHP Billiton are reducing employees as energy prices continue to tumble.
Global oil prices were teetering on the brink of sub-US$30 per barrel in New York Wednesday while natural gas hovered around US$2.29 per million British thermal units (mmbtu) on the New York Mercantile Exchange.
BPTT, which operates in 904,000 acres off Trinidad’s east coast, with 13 offshore platforms and two onshore processing facilities, did not immediately confirm how many jobs would be lost as it reviewed its “organisational structure”.
BPTT one of the leading oil and gas production companies in Trinidad and Tobago, and active exploration company BHP Billiton, to cut back on jobs.