NEWS

OSLO (Reuters) – Norwegian oil and gas firm Equinor is set to cut jobs significantly in the United States, Canada and Britain to adjust to a fall in oil prices, a company spokesman said on Wednesday.

The group plans to cut employee numbers in those countries by about 20% and contractor numbers by around half to ensure profitability at lower oil prices, the spokesman told Reuters, adding that the targets were communicated internally on Tuesday.

Equinor will also not drill any new unconventional wells this year in the United States, where it has acreage in the Bakken and Marcellus shale formations, he said.

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