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Chevron cuts 111 oil jobs in North Dakota post-merger, citing lower oil prices and industry consolidation.
Chevron is laying off 111 oil workers in North Dakota, exceeding initial projections, following its $53-billion merger with Hess Corp.
The cuts, effective Sept. 26, impact Minot and Tioga, with Chevron offering severance and job support.
The move is part of industry-wide consolidation driven by lower oil prices, which are down 16% from last year.
Despite a drop in drilling rigs from 39 to 32 over the past year and declining job openings, North Dakota’s unemployment remains low at 2.5%, with no spike in job center visits, suggesting some workers found new roles.
Chevron reaffirmed its focus on developing shale resources in the Bakken formation.
Chevron recorta 111 empleos petroleros en Dakota del Norte después de la fusión, citando precios más bajos del petróleo y consolidación de la industria.