Oil and Gas

Shell increases job cuts target by 20 percent

Shell ramping up job cuts

Royal Dutch Shell will increase the number of job cuts in 2015 and 2016 by around 20 percent to at least 12,500 as a result of low oil prices and the integration of BG Group, it said on Wednesday.

The Anglo-Dutch company will reduce the size of its UK and Ireland oil and gas production, or upstream unit, by 475 throughout 2016, it said in a statement.

Shell started offering employees in Britain and the Netherlands voluntary redundancy last month.

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