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Repsol to cut 30% of Canadian staff - Reuters

Jun. 18, 2019 6:53 PM ETRepsol, S.A. (REPYF) Stock, CEO StockCEO, REPYY, REPYFBy: Carl Surran, SA News Editor
  • Repsol (OTCQX:REPYF) is cutting ~30% of its Canadian workforce as part of global restructuring, Reuters reports, making it the latest energy company to either reduce or exit Canada's oil sands to invest elsewhere.
  • Repsol's Canadian workforce totaled ~700 at the end of 2018; the company maintains liquids and gas assets and conventional heavy oil operations in western Canada, primarily in Alberta.
  • Also this month, Nexen, a subsidiary of China's state-owned oil giant CNOOC (NYSE:CEO), reportedly laid off 100 employees in Alberta.

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