Space Travel News  
OIL AND GAS
Shell cuts more than 2,000 jobs
by Daniel J. Graeber
Aberdeen, Scotland (UPI) May 25, 2016


disclaimer: image is for illustration purposes only

At least 2,200 additional jobs will be trimmed from the payroll as the industry struggles to move through the downturn, a Shell official said from Scotland.

British energy company BG Group became a unit within the corporate structure of Royal Dutch Shell in early February. The $7 billion tie-up was the largest of its kind since Exxon and Mobil joined forces in the 1990s.

After the deal closed, Shell said it was closing some of the offices in the United Kingdom for BG Group as both companies move forward under a united structure. Paul Goodfellow, a regional vice president for Shell, said from Aberdeen at least 2,200 additional jobs would be cut as the combined strategy evolves under a strategy to reduce overall costs.

"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," he said in an emailed statement.

Voluntary layoffs were opened to BG Group staff as offices closed, though Shell said all internal vacancies were available to them. In its latest announcement, the company said the total number of job losses would be less than 5,000 in 2016 as Shell continues to recruit for its refining and service sectors.

Although the combination with BG Group results in widespread redundancies, Shell said combined costs would move lower by about $4 billion for the year. Even though crude oil prices are up roughly 70 percent from early 2016 lows below $30 per barrel, Goodfellow said the market was still depressed when compared with two years ago.

"Our integration with BG provides an opportunity to accelerate our performance in this 'lower for longer' environment," he said.

Shell in early May published its first earnings report of the year since closing on its deal to acquire British energy company BG Group. The Dutch supermajor said the deal was paying off in terms of output, which is up roughly 15 percent compared with last year. Cash flow for the combined entity increased by $800 million.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Oil attacks in Nigeria's south hit power, water supply
Lagos (AFP) May 24, 2016
Militant attacks in Nigeria's oil-producing south have caused water supplies to be turned off in the country's commercial hub and biggest city, Lagos, the state government said on Tuesday. The Lagos state ministry of information said in a statement that disruption to public supplies has been caused by "shortage of gas" in pumping stations due to attacks on oil and gas pipelines. The rene ... read more


OIL AND GAS
Fregat is fueled in Arianespace's FCube facility for Soyuz Flight VS15

Pre-launch processing is underway with Indonesia's BRIsat for the next Arianespace heavy-lift flight

Russia Spent $1.3Bln on Vostochny Cosmodrome So Far

New Antares Rocket Rolls Out at NASA Wallops

OIL AND GAS
Ancient tsunami evidence on Mars reveals life potential

Hubble Takes Mars Portrait Near Close Approach

Mars - Closest, Biggest and Brightest in a Decade

Mars Rover Scientist Hopes to Find More Evidence of Liquid Water on the Red Planet

OIL AND GAS
NASA research gives new insights into how the Moon got inked

First rocket made ready for launch at Vostochny spaceport

Supernova iron found on the moon

Russia to shift all Lunar launches to Vostochny Cosmodrome

OIL AND GAS
Imaging the Encounter of a Lifetime

New Horizons' First Science on a Post-Pluto Object

Hints of wandering planets in distant cometary belt

Dwarf Planet Haumea's Lunar System Smaller than Anticipated

OIL AND GAS
Kepler-223 System Offers Clues to Planetary Migration

Star Has Four Mini-Neptunes Orbiting in Lock Step

Exoplanets' Orbits Point to Planetary Migration

Synchronized planets reveal clues to planet formation

OIL AND GAS
Australian, U.S. HIFiRE rocket achieves Mach 7.5

Abandonment of Russian Booster Engines May Send NASA's Costs Skyrocketing

Will America Set Military Back by Abandoning Russian RD-180 Rocket Engines

Air Force demos key rocket engine technologies for new launch systems

OIL AND GAS
China, U.S. hold first dialogue on outer space safety

Long March-7 rocket delivered to launch site

China's space technology extraordinary, impressive says Euro Space Center director

China can meet Chile's satellite needs: ambassador

OIL AND GAS
The Book on the Birthplace of Planetary Science

Close-up Hubble images show new details of comet

Asteroid Mining - What the Heck

DSI and Luxembourg partner to commercialize space resources









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.