Oil and gas companies received billions in tax benefits – then cut tens of thousands of jobs

Oil and gas companies that received at least $50m in tax benefits

Tax benefits (in millions)

Jobs cuts from Dec. 2019 to Dec. 2020

0

1,000

2,000

3,000

Marathon

Petroleum

Marathon received

$2.1 billion in tax

benefits – and cut

nearly 2,000 jobs.

Phillips 66

Vistra Corp

National Oilwell

Varco

7,848 jobs cut

Valero

DTE Energy

QEP Resources Inc

Occidental

Petroleum Corp

Delek US Holdings

EOG

Devon Energy

Noble Corp

Fluor Corp

Valaris PLC

Baker Hughes

13,000 jobs cut

RPC Inc

Westlake Chemical

Corp

EQT

Marathon Oil

Tetra Technologies

Diamondback

Energy

Kirby Corp

Antero Midstream

Hollyfrontier

Tax benefits (in millions)

Jobs cuts from Dec. 2019 to Dec. 2020

0

1,000

2,000

3,000

Marathon

Petroleum

Marathon received

$2.1 billion in tax

benefits – and cut

nearly 2,000 jobs.

Phillips 66

Vistra Corp

National Oilwell

Varco

7,848 jobs cut

Valero

DTE Energy

QEP Resources Inc

Occidental

Petroleum Corp

Delek US Holdings

EOG

Devon Energy

Noble Corp

Fluor Corp

Valaris PLC

Baker Hughes

13,000 jobs cut

RPC Inc

Westlake Chemical

Corp

EQT

Marathon Oil

Tetra Technologies

Diamondback

Energy

Kirby Corp

Antero Midstream

Hollyfrontier

Tax benefits (in millions)

Jobs cuts from Dec. 2019 to Dec. 2020

0

1,000

2,000

3,000

4,000

Marathon received

$2.1 billion in tax

benefits – and cut

nearly 2,000 jobs.

Marathon

Petroleum

Phillips 66

Vistra Corp

National Oilwell

Varco

7,848 jobs cut

Valero

DTE Energy

QEP Resources Inc

Occidental

Petroleum Corp

Delek US Holdings

EOG

Devon Energy

Noble Corp

Fluor Corp

Valaris PLC

Baker Hughes

13,000 jobs cut

RPC Inc

Westlake Chemical

Corp

EQT

Marathon Oil

Tetra Technologies

Diamondback

Energy

Kirby Corp

Antero Midstream

Hollyfrontier

Tax benefits (in millions)

Jobs cuts from Dec. 2019 to Dec. 2020

0

1,000

2,000

3,000

4,000

Marathon received $2.1 billion in tax benefits – and cut nearly 2,000 jobs.

Marathon

Petroleum

Phillips 66

Vistra Corp

National Oilwell

Varco

7,848 jobs cut

Valero

DTE Energy

QEP Resources Inc

Occidental

Petroleum Corp

Delek US Holdings

EOG

Devon Energy

Noble Corp

Fluor Corp

Valaris PLC

Baker Hughes

13,000 jobs cut

RPC Inc

Westlake Chemical

Corp

EQT

Marathon Oil

Tetra Technologies

Diamondback

Energy

Kirby Corp

Antero Midstream

Hollyfrontier