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2014-08-08 17:50:00

CHEVRON CUTS PERSONNEL

CHEVRON CUTS PERSONNEL

 

U.S. oil major Chevron Corp. said it has cut the numbers of its overseas staff working in the Kurdish region of Iraq as the militant group Islamic State pushed their offensive closer to the area, and amid reports of a car bomb blast in the nearby northern Iraqi city of Kirkuk.

Chevron's move comes as shares in Kurdistan-focused oil producers listed in Europe plunged on Thursday.

"We are closely monitoring the situation," a Chevron spokeswoman in London said. "We have reviewed the business critical positions and as a consequence made a reduction in the total numbers of expatriates in the region."

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Tags: CHEVRON, KURDISTAN, OIL, U.S., IRAQ, EXXON, BP

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