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Added on the 15/01/2015 16:16:49 - Copyright : Reuters EN
Oil major BP plans to cut at least 4,000 jobs globally in its oil production division this year to reduce costs amid a steep decline in oil prices. Hayley Platt reports.
Royal Dutch Shell has posted a 37 percent drop in second quarter profit. As Hayley Platt reports the Anglo-Dutch oil and gas company is planning to axe 6,500 this year and reduce spending further to deal with persistently low oil prices.
Royal Dutch Shell shares have taken a hit after the oil company missed profit expectations and announced a three-year, $15 billion cut in spending. As Katie Gregory reports it reflects the steep fall in oil prices which are now near a six year low.
The European Commission urges EU countries to reduce their demand for natural gas by 15 percent over the coming winter months to overcome Russia's energy supply "blackmail". SOUNDBITE
In Luxembourg, German Finance Minister Christian Lindner says it is not yet possible for the EU to cut Russian gas imports as a sanction against Moscow's invasion of Ukraine. SOUNDBITE
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