Accounting them out

Conoco has become the latest company to join the trend for outsourcing accounting functions, with the announcement that Andersen Consulting is taking on the bulk of the Dupont energy subsidiary's upstream and downstream oil accounting work in the UK.

As a result of this move, about 120 staff are being transferred to Andersen, which has handled BP Exploration's accounting for four years and which also does similar work for Sun Oil and ASco.