Shell sheds another 250 North Sea jobs as oil prices plummet
OIL GIANTS Shell and Taqa yesterday announced plans to cut hundreds of North Sea jobs as the commodity’s price volatility took its toll.
Shell UK plans to cut 250 posts from its North Sea operations and change offshore shift patterns, as part of a drive to manage rising costs. Taqa said it planned to cut about 100 jobs because of the “challenging” time facing the industry.
Shell’s upstream vice president for the UK and Ireland, Paul Goodfellow, said: “The North Sea has been a challenging operating environment for some time. Reforms to the fiscal regime announced in the Budget are a step in the right direction, but the industry must redouble its efforts to tackle costs and improve profitability if the North Sea is to continue to attract investment.”
He added: “Current market conditions make it even more important that we ensure our business is competitive. Changes are vital if it is to be sustainable.
The cuts are in addition to 250 redundancies announced by the company last August.