Monday 8 August 2016

MORE JOB CUTS LOOM AS SHELL, IOCS’ DEBTS HIT $138BN

More oil workers, specifically big shots, are expected to join over 20,000 workers sacked in the oil industry, as the debt woes of International Oil Companies (IOCs) hit $138 billion within one year.

The London-based Fitch Ratings, which disclosed this at the weekend, declared that the hope of recovery at the year-end has dimmed for Shell, ExxonMobil, Chevron and other big oil and gas firms.

Read more @ New Telegraph

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