COMPANY NEWS: Premcor cuts staff, takes restructuring charge

Independent refiner Premcor Inc. said it will cut its nonunion staff by about 20% and will record a $10 million restructuring charge in the third quarter related to the reduction. The Old Greenwhich, Conn.-based company said the cuts should reduce costs by $15 million/year.In other recent company news:San Jose, Calif.-based independent power producer Calpine Corp. has inked a deal with NAL Resources on behalf of NAL Oil & Gas Trust, Calgary, and another institutional investor for the sale of certain Canadian oil and gas properties, deemed "nonstrategic," for about $125 million (Can.).Algerian state oil company Sonatrach is taking its first foothold in Europe through a three-pronged agreem...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected