Norway's Statoil Says To Close Down Its R&D Office In Beijing

Reuters

OSLO, Nov 9 (Reuters) - Norway's Statoil has decided to close down its Beijing-based research and development department as part of ongoing cost cuts, it told Reuters on Wednesday.

"As part of our efforts to reduce costs, we have decided to close the Beijing-based R&D department. The department consists of 12 employees, including one expat," a company spokesman said in an emailed statement.

"We will continue to maintain the China office, as China is important for Statoil," he added.

(Reporting by Gwladys Fouche, editing by Terje Solsvik)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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