BP is cutting one in five jobs at its North Sea operations as the weak oil price looks like dipping below US $30/bbl – with 4,000 jobs to be cut in total worldwide. The UK major is cutting 600 staff in Scotland in a cost-cutting push in the E&P department glob- ally. The North Sea cuts will affect rig workers as well as office-based staff and agency workers on long-term contracts, but there are no plans to close any oil platforms, BP said.
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