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Shell to cut hundreds of jobs in Scotland – source

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Reuters: UPDATE 1-Shell to cut hundreds of jobs in Scotland – source

Wed Apr 23, 2008 6:53am EDT
By Tom Bergin

LONDON, April 23 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) is to cut hundreds of jobs in Aberdeen, as it sells oil fields in the declining North Sea, a source familiar with the matter said on Wednesday.

No one was immediately available for comment at Shell.

Major oil companies such as Shell, BP Plc (BP.L: Quote, Profile, Research) and Exxon Mobil (XOM.N: Quote, Profile, Research) have been selling assets in the North Sea to focus on areas which offer greater exploration potential.

Last October, BP said it planned to cut its onshore North Sea workforce by almost 20 percent, a loss of 350 jobs.

UK-registered BP and Shell are sensitive to the accusation they are gradually exiting the North Sea which helped them retain their position as oil majors when they lost key assets in the Middle East in the 1960s and 1970s.

Despite the field sales and job cuts, the companies constantly assert their commitment to the area.

(Reporting by Tom Bergin; Editing by Quentin Bryar)

© Thomson Reuters 2008 All rights reserved

http://www.reuters.com/article/marketsNews/idUSL2374480420080423

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