Oil majors laying off jobs and cutting expenditures


PETALING JAYA: The oil price slump since June 2014 has heaped pressure on oil majors worldwide to lay off jobs and to reduce their capital expenditures (capex) and operational expenditure (opex) as part of their cost-cutting measures.

Shell had indicated that it will reduce some 10,000 employees after it had acquired BG Group last month for US$53bil (RM223bil).

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Business , Petronas , oil and gas , Job , VSS

   

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