Space Industry and Business News  
OIL AND GAS
Some BG Group offices to close
by Daniel J. Graeber
London (UPI) Apr 25, 2016


disclaimer: image is for illustration purposes only

Royal Dutch Shell said Monday it was closing some of the offices in the United Kingdom for BG Group as both companies move forward under a united structure.

British energy company BG Group became a unit within the corporate structure of Royal Dutch Shell in early February. The $7 billion tie-up was the largest of its kind since Exxon and Mobil joined forces in the 1990s.

Royal Dutch Shell said in a statement emailed to UPI that a December structural review of the combination was completed and, as a result, some regional offices of BG Group would close.

"One of the review's recommendations was to consolidate all Shell's London and South East based operations into Central London," Huibert Vigeveno, BG Group transition CEO, said.

While voluntary layoffs are opened to BG Group staff, all internal vacancies at Shell are now available to them. Employees who do leave would be counted under Shell's previous target of eliminating about 10,300 from its payroll.

Shell said combining with BG Group would mark the start of a new chapter for the company. Costs will move lower by about $4 billion for 2016, but also result in widespread redundancies. The Dutch supermajor said its full-year 2015 earnings declined 80 percent to $3.84 billion.

On a quarterly basis, BG reported a loss of $1.2 billion against $8.3 billion in the fourth quarter of 2014. Spending in its final quarter as a standalone company was 28 percent lower year-on-year at $1.7 billion, with nearly all of that targeting exploration and production.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Saudi king sacks utilities minister amid anger over prices
Riyadh (AFP) April 24, 2016
The king of Saudi Arabia has sacked the country's water and electricity minister, Abdullah al-Hussayen, amid public anger over price hikes, state media reported. King Salman issued a decree on Saturday ordering his dismissal and replacement in the interim by Agriculture Minister Abdel Rahman al-Fadli, said the official SPA news agency. His removal comes after the government reduced subsi ... read more


OIL AND GAS
Electrons slide through the hourglass on surface of bizarre material

Simple 3-D fabrication technique for bio-inspired hierarchical structures

Laser source for biosensors

Indian space scientists produce world's lightest synthetic material

OIL AND GAS
Haigh-Farr showcases Antenna Solutions at DATT Summit

U.S. Army orders radios for Mid-East, African countries

Harris supplies tactical radios to African country

In-orbit delivery of Laos' 1st satellite launched

OIL AND GAS
Europe makes fourth attempt to launch Russian rocket

Sentinel-1B in position for liftoff

Arianespace cooperation with Russia remains smooth amid sanctions

Orbital ATK awarded major sounding rocket contract by NASA

OIL AND GAS
Satellite touchdown in run up to Galileo launch

Russian Glonass Satellite Scheduled for Launch on May 21

Glonass navigation system's ground infrastructure successfully completed

China launches 22nd BeiDou navigation satellite

OIL AND GAS
Heavy-lift helicopters test external load capabilities

Russian stealth bomber to carry hypersonic missiles

Experts examine new debris for MH370 clues

Delayed take-off for China's own regional jet

OIL AND GAS
A single-atom magnet breaks new ground for future data storage

Hafnium oxide used for new type of non-volatile memory

Quantum computing closer as RMIT drives towards first quantum data bus

'Odd couple' monolayer semiconductors align to advance optoelectronics

OIL AND GAS
Sentinel-1 sees rice paddy drop in the Mekong Delta

DigitalGlobe delivers first phase of continent-scale mapping initiative for PSMA Australia

Astrix fiber optic gyro to fly on NASA CNES mission

Study shows cloud patterns reveal species habitat

OIL AND GAS
China probes polluted school as parents urge action

Expect more unhealthy ozone days in the next decades: study

Pollutants in fish inhibit human's natural defense system

China air pollution shifts west in first quarter: Greenpeace









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.