Oil Giant, Royal Dutch Shell Set To Dismiss 6,500 Workers

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Nigeria Records N7trn Revenue From Crude Oil Exports

Following plans to counter falling oil prices, Oil giant Royal Dutch Shell has decided to cut down 6,500 jobs.

It was learnt that the job cuts comprised part of its $4bn reduction in operating costs.

Information gathered shows that the job cuts affected contractors as well as Shell employees, and included job losses at its operations in the North Sea and cuts resulting from divestment in Nigeria.

Shell, which currently employs about 94,000 people, said it is also scaling back its oil exploration operations.

The firm announced profits of $3.4bn in the three months to 30 June, a 35% decrease compared with last year.

Shell said that it was “planning for a prolonged downturn” in oil prices.

According to the Chief executive Ben van Beurden, “We have to be resilient in a world where oil prices remain low for some time, whilst keeping an eye on recovery.

“We’re taking a prudent approach, pulling on powerful financial levers to manage through this downturn, always making sure we have the capacity to pay attractive dividends for shareholders.”

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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