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BUZZ-Premier Oil: reining in costs as oil plunges

Reuters - UK Focus

** Premier Oil (LSE: PMO.L - news) expects to book a $300 mln impairment charge & plans to cut jobs & investment as oil cos under pressure to find cost savings in face of crude's savage sell-off

** Stock trading around lowest levels since late 2008 Chart: http://link.reuters.com/quz73w

** Cairn Energy (LSE: CNE.L - news) said Tues it had reduced headcount across its full-time employees & contractors by 40 pct to cut costs

** Tullow Oil (LSE: TLW.L - news) 's trading update due Thurs; sources said this wk Tullow is also planning job cuts (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)