22 C
Georgetown
Sunday, February 28, 2021

No job loss in coming months – BP chief tells staff in ‘global town hall’

Must Read

Will oil companies start spending again? Cash generation could hit record levels in 2021

By Simon Flowers - Chairman, Chief Analyst and author of The Edge at Wood Mackenzie This could be the year...

Coming oil price bounce, supply shortfall opening space for Guyana barrels

More space is being created on the oil market for Guyana’s medium sweet Liza Crude as prices are expected to rise...

New York Stock Exchange begins delisting CNOOC

The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC Ltd...
OilNOW
OilNow is an online-based Information and Resource Centre which serves to complement the work of all stakeholders in the oil and gas sector in Guyana.

The CEO of BP Plc Bernard Looney has promised the workers of the British oil and gas major that its response to the novel coronavirus does not include making any staff redundant over the next three months.

Writing in a LinkedIn blog post on March 27, 2020, Looney said, “There is enough to worry about right now in light of the pressures we all face. And we are serious about reducing the immense stress on our team.”

He stated that the situation is a reminder that people come first. “It is part of our new company purpose – and I hope you will have seen in the actions we are taking that it matters a great deal to us. We will keep going on this and go further,” he said.

The BP CEO said that it is important that people stay connected in what he referred to as extraordinary times. “Yesterday (March 26) I spoke with nearly 7,000 of our staff on a live webcast. I never imagined I would be doing my first global “town hall” from my flat in London but these are extraordinary times. And in extraordinary times – it’s even more important that we stay connected.

He pointed out how amazed he was by the work going on in BP with people rising to the challenge to safely and reliably deliver the energy the world needs. He said the highest praise must go to the company’s frontline staff for that.

“On the webcast I talked with the team about the fact that the economic environment right now is brutal, to be frank. It is a unique confluence of events. The global response to the coronavirus has reduced the demand for many of our industry’s products, at the same time as the supply of oil and gas has increased due to the OPEC+ alliance breaking down,” he wrote.

He said in these turbulent times, capital and costs must be managed and noted that the situation is not unprecedented. “We have been here before. The oil price was around what it is now when I joined the company 29 years ago. We will respond by taking calm, deliberate action to manage capital and costs. But – of course – it is no less worrying for our people,” he said.

On its website, BP noted that it is working across the company’s operations in response to these unprecedented circumstances “that our people and communities now face” as the impact of coronavirus – or COVID19 – touches every corner of the globe.

“Our executive support team and other leadership teams are meeting daily to address and respond to the ever-changing conditions in the countries where we operate,” BP said.

BP said it is focused on supporting governments’ calls to limit the spread of COVID-19, “while ensuring the supplies of energy, fuel and vital petrochemical feedstocks are uninterrupted.”

Latest News

Will oil companies start spending again? Cash generation could hit record levels in 2021

By Simon Flowers - Chairman, Chief Analyst and author of The Edge at Wood Mackenzie This could be the year...

Coming oil price bounce, supply shortfall opening space for Guyana barrels

More space is being created on the oil market for Guyana’s medium sweet Liza Crude as prices are expected to rise amid a coming shortfall in...

New York Stock Exchange begins delisting CNOOC

The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC Ltd based on an executive order...

CDC hosts major oil spill response workshop ahead of exercise to test Guyana’s capabilities

Guyana’s Civil Defence Commission (CDC) is partnering with US State agencies, Pacific Disaster Center, ExxonMobil, and the French and Canadian Armed Forces to build the...

In historic move, Exxon takes Canadian oil sands off its books

(Bloomberg) --Exxon Mobil erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves to depths never before...

More Articles Like This