Job losses continue in energy industry as oil prices fall

More energy job losses have been announced as unions and employers in the oil and gas industry met to discuss the knock-on effect of the plunge in oil prices in UK.

Schlumberger, the world’s largest oil and gas services group, confirmed that North Sea jobs would be lost as part of its plans to cut 9,000 posts internationally.

The move followed 300 job cuts announced by BP, with unions fearing more firms will follow suit in the coming weeks.

A Schlumberger spokeswoman said: “The dramatic fall in oil price over the past quarter has led our customers to decrease exploration and production activity worldwide.

Oil giant BP will to announce job cuts at the company’s North Sea operation today in the latest sign that the falling oil price is hitting the British petroleum industry.

The company is expected to brief employees in Aberdeen today about the swathe of job losses. BP employs 4,000 people in the North Sea and 11,000 more around the UK.

Businessman Sir Ian Wood said that up to 15,000 jobs could be lost in the North Sea as a result of falling prices.

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