Shell cutting up to 300 Alberta oil sands jobs
Royal Dutch Shell said last Friday it will cut up to 300 jobs at its Albian oil sands project in Alberta.
The Anglo-Dutch supermajor said will get rid of 5 to 10 percent of the 3,000 jobs at the project and will try to place laid off workers in other positions in the company, Fuel Fix said.
A Shell official said the cuts are not tied to plummeting oil prices.
The company has not outlined a timeline for the lay offs or specified exactly how many jobs will be affected.
The Albian oil sands project produces about 255,000 barrels of oil equivalent per day from two mines.
Shell has undertaken a multi-billion divestment plan implemented by CEO Ben van Beurden that netted the company over $11 billion in 2014 in an effort to curb costs and boost profit margins.
In October, van Beurden said oil price volatility “underlines the importance of our drive to get a tighter grip on performance management, keep a tight hold on costs and spending, and improve the balance between growth and returns.”
The Anglo-Dutch supermajor said will get rid of 5 to 10 percent of the 3,000 jobs at the project and will try to place laid off workers in other positions in the company, Fuel Fix said.
A Shell official said the cuts are not tied to plummeting oil prices.
The company has not outlined a timeline for the lay offs or specified exactly how many jobs will be affected.
The Albian oil sands project produces about 255,000 barrels of oil equivalent per day from two mines.
Shell has undertaken a multi-billion divestment plan implemented by CEO Ben van Beurden that netted the company over $11 billion in 2014 in an effort to curb costs and boost profit margins.
In October, van Beurden said oil price volatility “underlines the importance of our drive to get a tighter grip on performance management, keep a tight hold on costs and spending, and improve the balance between growth and returns.”