Fidelity bank banner Bayelsa State banner
Shell outlines BG consolidation plan

By News Express on 26/04/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,605


Royal Dutch Shell PLC will offer a new voluntary severance program for employees and plans to close a number of U.K. offices in the wake of its roughly $50 billion acquisition of BG Group PLC, the company said Monday.

The Anglo-Dutch oil giant has proposed plans to consolidate its London operations in central London and close its Thames Valley Park campus by the end of the year. The company also intends to close BG’s offices in Aberdeen by the end of 2016 and Shell’s Manchester offices by the end of 2017.

The company didn’t specify how many job losses might accompany the office closures but has previously said it expects to lose 2,800 jobs world-wide as part of its BG takeover.

The company said it plans to start reducing staff at Thames Valley Park by first offering packages to employees who want to leave. It also intends to offer some staff a selective voluntary severance program as part of its efforts to cut costs in the wake of falling oil prices.

Overall, Shell has announced plans to cut some 10,000 jobs over 2015 and 2016 to combat falling oil prices and consolidate the company following its BG acquisition.

The news comes ahead of Shell’s first quarter results next week, which are expected to show the impact of a continuing slump in oil prices that has buffeted the sector for almost two years. The market environment is a complication for Shell as it seeks to consolidate its holdings and complete $30 billion in asset sales in the wake of the BG deal.

 

Source News Express

Posted 26/04/2016 04:43:26 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Nigeria gets 31 new SANs (See Full List)...

8th Senate passes 128 bills in 26 months...

Umeh unfolds agenda as Senator for Anambra Central...

No FG presence in Anambra — Obiano

Court sentences 75 protesters to death in Egypt...

EEDC installs brand new 15MVA power transformer in...

Obiano donates gunboats to Navy, launches flying boats,...

Akwa Ibom information commissioner tasks journalists to sustain...

Police, EFCC partner in fight against corruption

UNICEF commends Obiano’s development plans

Ideology of Exponential Growth Devours, Corrupts: Growth as...

Eagles start 2018 World Cup race on a...

 

Latest News The world must attack immigration problems at the roots, By Benjamin Obiajulu Aduba Intersociety exposes new SARS Commander, writes off reforms Court threatens IGP over detention of Kwara Governor’s Aide Ex-banker arrested on wedding day; slammed with theft charge Insecurity: NEC sets up panel to decentralise Police operations Six killed as troops, bandits exchange gunfire in Zamfara U.S. votes $12.5m for food security in Nigeria Nigeria loses N126.2b on abandoned FG properties in Lagos — Don 5 lawmakers defect in Ogun Stakeholders demand implementation timeline for PIGB Peter Obi’s leadership resonates in Regina Pacis girls’ victory SARS reform not enough — CDHR •Seeks punishment of errant officers

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (377,559 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (366,536 views) Shameless Genevieve Nnaji exposes breasts in public (296,247 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (241,807 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (222,578 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,071 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (192,512 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (174,698 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,599 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,270 views) Lagos plane crash: Journalist releases victims’ names (152,685 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,002 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,454) Business Verdict (48) Columnists (910) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (528) Features (634) Global Business Monitor (294) International (2,274) Interview (161) Live Commentary (28) Love Matters (134) News (38,059) Opinion (1,058) Pidgin (11) Politics (6,058) Religion (816) Sports (1,646) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Real Madrid vs Atletico Madrid 2-4 Highlights and Goals

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement