“Uncertainty is always not good for the business, so it’s certainly better than price dropping a bunch,” said Jones. In April, the company announced it would cut 2020 capital spending by $10 billion, or 30%. KHOU 11 checked with the Texas Workforce Commission about Cogent’s apparent layoffs, but companies are not required to report them unless 50 employees or more are impacted. © 2020 World Oil, © 2020 Gulf Publishing Company LLC. Notifications can be turned off anytime in the browser settings. Send us a news tip | Download our app | #HTownRush Newsletter. The UH Energy Fellow says industry officials are also planning for a tightening of regulations if a Democratic candidate wins, either in 2020 or 2024. HOUSTON, Texas (KTRK) -- Industry experts said with the recent spike in COVID-19 cases, and as the pandemic continues to ravage the oil and gas industry, there will be more job cuts.
Hirs predicted similar predicaments in 2020 based, in part, on an oil oversupply, ongoing trade war, and resulting impact on prices. “Nothing turns voters off more than having to pay more on a week-to-week basis,” said Ed Hirs, a University of Houston Energy Fellow. Cogent did not responded to our voicemails, emails or an in-person visit to a building on Westheimer. Hirs believes many of them may be adjusting to life with leaner payrolls. That's where we learned the company’s senior vice president for legal had an office. "It’s going to be a bleak holiday season for many oil field employees,” said University of Houston Energy Fellow Ed Hirs. “I don’t drive too much, but I can’t complain.”. Hirs believes 2020 will be another year of Houston-area energy companies continuing what they’re already doing to deal with current oil prices, while continuing to become more efficient. The Houston layoffs are part of Chevron’s broader plans to eliminate as many as 6,000 jobs worldwide. Still, Jones says there’s good news with the current outlook. "A lot of those guys have got young kids, stuff like that," Moehr said. She still had a job.

That’s the way it works.”. Notifications can be turned off anytime in the browser settings. "Certainly, we’re going to have to go forward with a lower level of activity for the next couple of years,” Hirs said.

Hirs says any new regulation or escalation of conflict in the Middle East would mean higher fuel prices. Her employer, a medium-sized oil and gas company, had a round of layoffs — and she made it through. AAA said the Houston area is averaging about $2.25 per gallon for regular unleaded gasoline, while the state averaged $2.27 per gallon. "Well, I just got my first unemployment check," Moehr said, "which ain’t much.”. That’s according to an expert who tracks oil and gas ups and downs. We heard from a number of former employees of Houston-based Cogent Energy Services who said they were laid off just before Thanksgiving from a facility in Orange Grove, Texas. However, the forecast is a bit gloomier for many working in or dependent on Houston’s oil and gas industry.

We’ll let you know if and when the company responds. 2020 has dawned with its own concerns. The Houston layoffs are part of Chevron’s broader plans to eliminate as many as 6,000 jobs worldwide.


“They’re pretty good,” said Sultan Abboushi, of the prices, while filling up Monday afternoon. “I think, actually, during the campaign, we’re gonna see a push by the incumbents, both Republicans and Democrats, to keep oil and gas prices down,” said Hirs. Business Houston Oil And Gas Jobs Set To Decline Through 2020.

Moehr, who has decades of energy industry experience, is also a cancer patient. “Still haven’t gotten my last paycheck,” said laid-off worker John Moehr. All material subject to strictly enforced copyright laws Please read our Terms & Conditions, Cookies Policy and Privacy Policy before using the site. He expects more takeovers and consolidations, like the 2019 merger of Occidental and Anadarko, and more layoffs. That’s according to an expert who tracks oil and gas ups and downs. Tighter capital markets and declining rig counts are set to wipe out most of the job gains in the sector since January. Oil Gas 2020 elections could help keep gas prices low, expert says . A number of Houston companies tied to the oil and gas industry have reportedly laid off hundreds of workers so far this year. ', Packers top Texans, 35-20, at NRG | See highlighs, Cowboys QB Andy Dalton knocked out of game with concussion after illegal hit from Washington, 45 missing children found, 109 human trafficking survivors rescued in Ohio operation, Two El Campo ISD seniors die in 2 separate car accidents over the weekend, Social media reacts to Astros' sign-stealing fallout, Reunited: Lost dog who 'trapped' neighbors in homes turns out to be 'goodest boy'. "So you postpone layoffs until the last possible minute.”. "I’m sure they’re trying to figure out how to keep food on the table and a roof over their head.”. HOUSTON — Layoffs in Houston’s biggest industry this year could be a sign of things to come in 2020. “Price of oil is high, business is great. ', Packers top Texans, 35-20, at NRG | See highlighs, Cowboys QB Andy Dalton knocked out of game with concussion after illegal hit from Washington, 45 missing children found, 109 human trafficking survivors rescued in Ohio operation, See the botched call on a Harden slam that may have cost the Rockets a win over the Spurs last night, Neighborhoods use license plate cameras to catch suspects, Tracking down Late Night Dave's family: The search for next of kin after a friend dies. It’s a trend he’s seen in past election years. According to Reuters, impacted Chevron staff will receive “enhanced severance benefits and two months to leave the company.” A Chevron spokeswoman said a majority of the employees not rehired will be terminated by the end of the year. Suspect accused of shooting man in the face during road rage incident on US-59 identified, Update: 83-year-old Houston woman with dementia found safe, Tropical Storm Zeta strengthening, expected to become hurricane today, Houston Forecast: An approaching cold front & tracking 'Zeta. RELATED: Recent oil and gas layoffs may be indicator of things to come in 2020, RELATED: Halliburton lays off 800 in Oklahoma, plant closure expected. HOUSTON – Chevron has reportedly notified the state of Texas that it plans to lay off nearly 700 employees in its downtown Houston offices, as part of a “cost-cutting program expected to eliminate up to 15% of its workforce,” per Reuters. However, plenty of other oil and gas companies have cut jobs during 2020, including some of the biggest. Related News /// Lower Mexican output in 2021 will raise Canadian heavy oil prices (10/22) Affected employees are being asked to reapply for their existing positions, with layoffs set to take place beginning October 23rd. AAA also reported Monday the national gas price average has not changed since January 1, holding steady at $2.58 per gallon. The energy researcher believes that’s bad news for either party. On Monday, AAA said the Houston area is averaging about $2.25 per gallon for regular unleaded gasoline, while the state averaged $2.27 per gallon. HOUSTON — Layoffs in Houston’s biggest industry this year could be a sign of things to come in 2020. 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A UH energy expert says the new year may be challenging as companies adjust to changing market. "And, to be fair, everyone in oil and gas is an optimist," Hirs said. Hirs thinks those prices will stay stable through 2020. “Most agencies, most elected officials, try to have a hands-off approach during the election cycle,” Hirs said. Domestic production has driven gas prices down. HOUSTON — A leading Houston energy expert thinks the 2020 election cycle could help keep gas prices steady.


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