Shell announces restructuring and job losses

Royal Dutch/Shell announced a restructuring of its Nigerian oil producing unit yesterday and said 700 staff had been notified, the independent ‘Guardian’ reported today. A statement by the company said the exercise was “in response to the emerging challenges in the oil and gas industry worldwide”. According to the ‘Guardian’, it said the restructuring “involves reduction in staff, especially in the areas of administrative and support services”. Industry analysts in Nigeria had predicted that Shell would have to reduce its workforce to improve efficiency even before the drop in world oil prices. Meanwhile Shell announced today it was still trying to fine-tune an international investment of US $8.5 billion for integrated oil and gas projects in Nigeria announced three days ago, AFP reported. “These are proposals that are currently being worked out with the Nigerian government,” a Shell spokesman was quoted as saying.