Shell, whose production has dropped below 3 million barrels of oil equivalent a day, has cut 5,000 jobs. Its also reorganized management by erasing 20 percent of senior posts.
Posts on ‘January 29th, 2010’
Tony Hayward, the chief executive of BP, said that his company hoped to increase production in the Iraqi field it has agreed to modernise from one million to three million barrels a day over the next 10 years. His counterpart at Royal Dutch Shell, Peter Voser, made a similar commitment on the two fields Shell is involved with.
LONDON (Dow Jones)–The Nigerian joint venture company operated by Royal Dutch Shell PLC (RDSB.LN) agreed Friday to sell its 30% interest in three oil production licenses that have been shut down since 2008 to a consortium led by local companies for an undisclosed sum, the venture said in a statement.
Shell May Cut More Jobs as Energy Demand Recovery Remains Muted January 29, 2010, 07:22 AM EST By Fred Pals and Francine Lacqua Jan. 29 (Bloomberg) — Royal Dutch Shell Plc, Europes second-largest oil company, may need to cut more jobs this year to control operating costs as a recovery in energy demand waits until [...]