UPDATE 3-BG writes off $6 bln and sees more job cuts after oil price plunge

martes 3 de febrero de 2015 06:42 GYT
 

* FY op profit down 14 percent to $6.5 billion

* Net earnings down 8 percent to $4 billion

* To reduce capital expenditure to between $6 bln and $7 bln

* Shares down 0.9 percent after rising to two-month high (Adds details, analysts' views, updates share price)

By Karolin Schaps

LONDON, Feb 3 (Reuters) - BG Group Plc has written $6 billion off the value of its oil and gas business in the fourth quarter to reflect the slump in the price of oil, forcing it to cut budgets and jobs this year.

Oil companies across the globe are scrambling to deal with a halving in crude prices that has eaten into profits and is pushing them to trim costs and focus on short-term returns.

BG will now have to focus on delivering returns from its newly opened Queensland Curtis LNG facility and Brazilian offshore fields to justify years of huge investments and deliver value at a time when traditional business streams are under pressure.

BG, Britain's third-largest energy company by stock market value after BP and Shell, booked a $5.9 billion impairment charge, reflecting the steep decline in oil prices as it had banked on a higher value for its oil and gas output.   Continuación...