Chevron Plans Close to 1,000 Layoffs of Saudi Staff in Kuwait Oil Spat

10 Nov 2015   Kuwait, Saudi Arabia

Chevron Corp. CVX -1.82 % is planning to lay off up to 1,000 employees working in the neutral zone between Saudi Arabia and Kuwait, as a dispute between those countries has halted all work on oil fields for several months, according to people familiar with the matter. Chevron has already significantly reduced the number of petroleum-development rigs in the neutral zone, a 2,230-square-mile oil-rich area that the countries jointly oversee. One of the people said the layoffs of Saudi Arabian staff had begun. “There is no point of keeping staff if the fields have been shut down for months,” the person said. A Chevron spokeswoman said she couldn’t “discuss specific details of our employees and contractors.” “Current difficulties in securing work permits and materials have impacted the company’s operations,” she said, forcing its local unit Saudi Arabian Chevron and Kuwait Gulf Oil Co. to stop onshore production in […]

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