EQNR

Equinor to cut jobs in U.S., Canada and UK amid oil price fall

Credit: REUTERS/INTS KALNINS

OSLO, Aug 26 (Reuters) - Norwegian oil and gas firm Equinor is set to significantly cut jobs in the United States, Canada and Britain to adjust to the fall in the oil prices, a company spokesman said on Wednesday.

The company plans to reduce number of its employees in those countries by about 20% and number of contractors by about 50% to ensure that its business is profitable in a lower price scenario, the spokesman Erik Haaland told Reuters, adding that the targets were communicated internally on Tuesday.

In addition, this year Equinor will not drill any new unconventional wells in the United States, where it has acreage in the Bakken and Marcellus shale formations.

(Reporting by Nerijus Adomaitis; editing by David Evans)

((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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