British energy giants set to axe costs in a bid to cope with falling gas and oil prices
BG could reveal a 75 per cent fall in profit to £200million
By LAURA CHESTERS FOR THE DAILY MAIL: 26 July 2015
The falling price of oil and gas continues to take its toll on energy firms as British Gas-owner Centrica, BP and Royal Dutch Shell are set to reveal increased cost cutting to cope.
The weak oil price has led to £130billion worth of oil and gas projects to be shelved globally, according to consultancy Wood Mackenzie.
In the UK this week Centrica chief executive Iain Conn is expected to reveal the details of a comprehensive strategic review that has been under way since he joined in January.
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