Equinor to cut jobs in US, Canada and UK amid oil price fall

[OSLO] 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 per cent and number of contractors by about 50 per cent 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.

REUTERS