Oil & Gas UK: Shell, TAQA cost-cutting move to benefit UK in long-term

Oil & Gas UK has commented on Shell UK and TAQA announcements of plans to reduce the number of staff. 

Offshore Energy Today earlier reported that Shell UK is planning to lay off at least 250 workers and change offshore shift patterns. In addition, according to BBC, TAQA is also planning to cut 100 jobs, mostly contractors and consultants in onshore positions.

Offshore Energy Today has reached out to TAQA seeking confirmation of this information; however, we are yet to receive it.

Noting announcements from Shell UK and TAQA on measures to tackle the issue of rising costs, Mike Tholen, Oil & Gas UK’s economics director, said: “With up to 23 billion barrels of oil and gas still to be recovered from the UK continental shelf (UKCS), the province offers vast potential. However its attractiveness as a destination for investment has been severely curtailed in recent years by rising costs, an onerous tax regime and under-resourced regulation, worsened by the drop in oil price.

“The new Oil and Gas Authority is progressing apace and the Budget announcement last week laid the foundations for the regeneration of the UK North Sea. As we said at the time, however, it is crucial that the industry itself now builds on this by delivering the cost and efficiency improvements required to secure its competitiveness. While these are tough decisions to take given the impact on people, the measures are being taken by many companies and will allow the UK to benefit in the long-term from a boost to energy security, hundreds of thousands of highly skilled jobs and billions of pounds worth of supply chain exports.”

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both domestic and overseas buyer groups, including Shell, Exxon Mobil, Total…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply