EnergyWatch

Trimmed Maersk Oil plans to cut costs by 30 percent

Contrary to projections from former CEO Jakob Thomasen, Maersk Oil succeeded in lowering the break-even price of oil to USD 40. The slimming down of the company can potentially go even further, says Maersk Group CEO Søren Skou.

Photo: PR-foto: Kontraframe / Thorbjørn Hansen

A 21 percent reduction in cost levels compared to the same period last year gave Maersk Oil a surprisingly low break-even oil price at below USD 40 per barrel. And the trimming of the company's costs is not over yet.

"We can still improve our cost situation at Maersk Oil," says Maersk Group CEO Søren Skou during the presentation of the third quarter results.

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