Statoil looking to save USD 5 billion with new cost reductions
According to an internal memo from Statoil, which Bloomberg is in possession of, the oil giant plans to perform significant cost reductions related to field development and employees, and the company thus plans to generate USD 5 billion extra ahead of 2020 by cutting costs.
BY KATRINE GRØNVALD RAUN
Following a year with significant cost reductions, oil giant Statoil is now setting the stage for further cuts, according to an internal memo that Bloomberg is in possession of, which shows that the company plans to generate USD 5 billion ahead of 2020 by cutting costs.
Already a subscriber?Log in here
Read the whole article
Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Statoil axes 100 top-level jobs
For subscribers
Semco: Statoil cost reduction efforts hit suppliers hard
For subscribers
