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Britain's biggest oil and gas companies reduce costs and staff at $21 billion

February 9, 2015

Britain's biggest oil and gas companies BP and BG Group will reduce capital expenditures and personnel for a total of $ 21 billion (13.9 billion pounds) amid falling oil prices. Companies expect their profits will fall significantly in the fourth quarter due to lower oil prices.

BP expects a fall in profit for the year to $ 9.3 billion from $ 23.4 billion a year earlier. Profit before tax for the year BG Group could be reduced to $ 5.4 billion from $ 7.4 billion. Earlier, the Anglo-Dutch company Royal Dutch Shell reported that it would cut investment by $ 15 billion over the next three years.

Number of employees of BP in the UK is about 15 thousand mans, BG - 5 thousand mans.