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BP to Cut Contractor Rates by up to 15%

Published in Oil Industry News on Tuesday, 16 December 2014

Graphic for News Item: BP to Cut Contractor Rates by up to 15%

BP's Aberdeen Headquarters have today confirmed to Oil and Gas People that they will be cutting agency contractor rates as of the 1st of January 2015. 

The news comes on the back of challenging times for the industry with the oil price slipping to a new 5 year low yesterday.

A spokesperson for BP said they are responding to toughening market conditions and are moving to maintain a competitive and sustainable position with the action following the business review they announced in November.

BP would not confirm the exact level of the cuts but one contractor who contacted Oil and Gas People this morning said he has been notified that his rate will be slashed by 15%.

The news follows an earlier announcement by Shell that they would be slashing 250 jobs and cutting rates for direct hire contractors by 15% and for agency contractors by 10%.

Are you effected by the cuts?

Write to news@oilandgaspeople.com or leave your comments below.


North Sea Oil and Gas, North Sea Jobs, BP North Sea Jobs, BP Jobs, BP Contractor Rates

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