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NEWS BULLETIN

March 14, 2016 --- Vol. 22, No. 17March 2016

BP to make further Alaska workforce reductions

BP is going to make further job cuts in Alaska, in response to the low price of oil. In January the company announced a 13 percent job reduction. The company now expects its Alaska workforce to drop by 17 percent.

"In response to the low price environment, the Prudhoe Bay working interest owners requested a reduction in activity and rigs at Prudhoe Bay," a company spokesperson has told Petroleum News. "This reduction in activity will add four percent to the original 13 percent estimate reduction of employees and agency contractors."

BP has previously indicated that at current oil price levels its Alaska operations have been losing money. And, worldwide, the company has been pursuing a vigorous program of cost reduction.

- Alan Bailey

See story in March 20 issue, available Friday, March 18 at www.PetroleumNews.com

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