Tags
Energy giant Royal Dutch Shell on Wednesday said it was cutting at least another 2,200 jobs owing to low oil prices and following its takeover of smaller rival BG Group.
‘Shell staff have today been informed about the progress being made on integrating BG into the company, and on further measures that are necessary to ensure Shell is competitive in a 'lower for longer' oil price environment,’ the Anglo-Dutch group said in a statement.
Shell said the latest losses bring to at least 12,500 the number of staff and direct contractor roles being cut from the company between the start of last year and end of 2016.
Jobs are being axed at its operations in the North Sea off the coast of Scotland, as well as in Ireland and elsewhere.
‘These are tough times for our industry and we have to take further difficult decisions to ensure Shell remains competitive through the current, prolonged downturn,’ said Paul Goodfellow, Shell's vice president for UK & Ireland.
‘In 2016, the number of job reductions in response to low prices and as a result of the BG integration is expected to total at least 5,000 globally.’
Goodfellow added that Shell was seeking to ‘create a competitive and sustainable business in the North Sea’.
Shell had earlier this month announced an 89-percent drop in net profit for the first quarter of 2016, blamed the slump on low oil prices. It also said that investment would be lower than expected.
The global oil market had nosedived from above $100 in mid-2014 to 13-year lows of around $27 in February, plagued by a stubborn supply glut.
But prices have since rebounded to trade at nearly $50 a barrel.
The slump in prices has caused energy groups worldwide to cut spending, slash jobs and sell assets during the past year.
However Shell still pressed ahead with its £47-billion ($69-billion, 62 billion-euro) takeover of British company BG Group, in a deal aimed at strengthening Shell's position in the liquefied natural gas (LNG) market.
At the end of 2015, Shell employed around 90,000 people globally, while BG had some 4,600 staff.
There are no comments.
Saying goodbye is never easy, especially when you are saying farewell to those that have left a positive impression. That was the case earlier this month when Canada hosted Mexico in a friendly at BC Place stadium in Vancouver.
Some 60mn primary-school-age children have no access to formal education
Lekhwiya’s El Arabi scores the equaliser after Tresor is sent off; Tabata, al-Harazi score for QSL champions
The Yemeni Minister of Tourism, Dr Mohamed Abdul Majid Qubati, yesterday expressed hope that the 48-hour ceasefire in Yemen declared by the Command of Coalition Forces on Saturday will be maintained in order to lift the siege imposed on Taz City and ease the entry of humanitarian aid to the besieged
Some 200 teachers from schools across the country attended Qatar Museum’s (QM) first ever Teachers Council at the Museum of Islamic Art (MIA) yesterday.
The Supreme Judiciary Council (SJC) of Qatar and the Indonesian Supreme Court (SCI) have signed a Memorandum of Understanding (MoU) on judicial co-operation, it was announced yesterday.
Sri Lanka is keen on importing liquefied natural gas (LNG) from Qatar as part of government policy to shift to clean energy, Minister of City Planning and Water Supply Rauff Hakeem has said.