FILE PHOTO: Flags fly outside ConocoPhillips offices in Houston, Texas, U.S., April 30, 2019. REUTERS/Loren Elliott/File Photo
FILE PHOTO: The entrance to oilfield service provider SLB's office in Houston, Texas, showing the former Schlumberger's new name and logo, is seen in this handout image taken June 2023. Courtesy of SLB/Handout via REUTERS/File Photo
FILE PHOTO: A Chevron logo at the Chevron building in Houston, Texas, U.S. August 19, 2025. REUTERS/Kaylee Greenlee/File Photo
FILE PHOTO: The logo of Malaysian energy group National Petroleum Limited, commonly known as PETRONAS, is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo

(Reuters) -International oil and gas companies have announced they would cut tens of thousands of jobs in 2024 and 2025 due to lower oil prices and as they consolidate after the biggest wave of mergers and acquisitions in the industry for decades.

Benchmark Brent crude futures have fallen in 2025 as OPEC+ increases output and amid economic uncertainty due to U.S. trade policy.

Here are some of the oil and gas companies that have announced job cuts in 2024-2025:

Company Description Layoff/Job % of Total

Cuts Workforce

ConocoPhil It will cut 20-25% of Unknown 20%-25%

lips its workforce amid a

broader restructuring

program, Reuters

reported, citing a

company spokesperson.

SLB The company is Unknown Unknown

reorganizing certain

functions within its

business and

continuing to reduce

its workforce,

according to a source

familiar with the

matter and an

internal email seen

by Reuters.

Chevron It will lay off 15% Unknown 15%-20%

to 20% of its global

workforce, the U.S.

oil company said in

February during an

internal employee

town hall meeting,

according to a source

familiar with the

matter.

APA Corp It has cut nearly 300 300 nearly 15%

employees globally in

January and late

February, the company

confirmed to Reuters

in May.

Halliburto An oil and gas 290 Unknown

n workers' union in

Argentina's oil-rich

Chubut province

threatened to strike

in February after

Halliburton laid off

hundreds of workers

and decided to close

its local office.

BP British oil major BP 7,000 5%

will cut over 5% of

its global workforce,

it said in January,

as part of CEO Murray

Auchincloss' efforts

to reduce costs and

rebuild investor

confidence in the

energy giant.

Petronas Malaysian state Unknown 10%

energy firm Petroliam

Nasional, or

Petronas, will

retrench about 10% of

its workforce in a

restructuring

exercise, its chief

executive said in

June.

Civitas It will reduce 10% of Unknown 10%

Resources its workforce in a

bid to enhance and

streamline its

organizational

structure, the

company said in

February.

Harbour It is set to cut 250 250 Unknown

Energy jobs, approximately a

quarter of the

workforce at its UK

unit based in

Aberdeen, the company

said in a statement

in May.

Equinor Last year, it had 250 Unknown

announced plans to

lay off some 20% or

about 250 people from

its renewable energy

division after

scaling down its

offshore wind plans.

Shell Last year, Shell had Unknown 20%

announced plans to

scale back its oil

and gas exploration

and development

workforce by 20%,

after deep cuts in

renewables and

low-carbon

businesses.

Exxon Last year, it 400 Unknown

Mobil announced plans to

cut nearly 400 jobs

in Texas following

its purchase of shale

producer Pioneer

Natural Resources,

according to a

regulatory filing.

(Reporting by Sumit Saha, Pranav Mathur, Tanay Dhumal, Nerijus Adomaitis and Pooja Menon; Editing by David Gregorio)