BP will today announce 300 job cuts in North Sea operations, it has been revealed.
The British oil company employs nearly 4,000 people in the North Sea, with a further 11,000 elsewhere in the United Kingdom.
BP said in December that it will cut thousands of jobs cut across its global oil and gas business following steep falls in oil prices.
UK Energy Secretary Ed Davey told BBC Radio 4's Today programme that there must be no "panicked" response to short-term price fluctuations and insisted the government was "determined to do everything we can" to save jobs.
He added: "The oil and gas industry - in terms of corporate sectors - pays more tax than any other and therefore it's very important that we think about that both in terms of jobs and in terms of the overall tax take and the future health of the sector."
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