BP cuts 300 North Sea staff

Of around 300 staff expected to lose their jobs, 200 will be onshore staff and 100 will be contractors.

BP's move follows that of ConocoPhillips which has announced 230 job cuts in the region. Shell announced it was axing 250 jobs last August and in July 2014 Chevron announced around 225 positions were to go. As oil companies make cuts in the region the knock-on effect will be felt in the offshore marine industry.

Oil prices have more than halved since the summer of last year, with Brent crude falling from over $110 a barrel in June 2014 to under $50 a barrel today.

Trevor Garlick, regional president for BP North Sea, commented: “We are committed to the North Sea and see a long term future for our business here. However, given the well-documented challenges of operating in this maturing region and in toughening market conditions, we are taking specific steps to ensure our business remains competitive and robust, and we are aligning with the wider industry.”

The company has undergone a major restructuring of its operations in the wake of the 2010 Deepwater Horizon incident in the Gulf of Mexico.

The general secretary of UK transport union RMT, Mick Cash commented: “The announcement from BP is a devastating blow to hundreds of workers in the UK energy industry and we are being warned that there is much worse to come."