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Shell to cut jobs

    ACCRA

    The Anglo-Dutch oil giant Shell is to reduce its operations in Nigeria and shed jobs in a bid to retain its competitive edge, AFP reported, quoting a company spokesman yesterday. He said the restructuring of operations would begin in February and would “certainly lead to job cuts”. Some jobs would disappear with voluntary retirement and non-replacement of short-term staff at the end of contracts. Shell, which produces close to half of Nigeria’s two million barrels a day of crude, has been plagued by seizures of its installations by armed Ijaw youth. In addition, the world price of crude has dropped over the past year from US $22 to around US $8 a barrel at the end of 1998.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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