REFILE-UPDATE 1-Wintershall to save costs to battle oil price fall

jueves 7 de abril de 2016 07:28 GYT

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By Vera Eckert

KASSEL, Germany, April 7 (Reuters) - BASF's Wintershall oil and gas subsidiary plans to cut costs and trim investments in response to sharp oil price falls that forced it to lower its sales and earnings forecasts for 2016.

The international exploration business will seek to cut costs by at least 200 million euros ($228 million) after its net profit fell 28 percent to 1.05 billion euros last year.

Wintershall could seek further savings in operational costs should oil prices stay low, finance chief Ties Tiessen told journalists.

"There is still room on the upside there," he said.   Continuación...