Your point is?

See Post #1683

Petronas is an integrated O&G company. They are lucky that they are diversified, Upstream tahun ni and maybe for the next 2-3 years will be suffering, tapi the Downstream is making tons of money so tak lah teruk sangat.

Unlike you, The TS got a LIFE outside of LYN. Pretty obvious you don't have one. Since you are so anal and fixated over the oil price being updated here, why don't you start the thread for the next version? You can update it every second for all we care.

Maybe what? Maybe you don't have life?or maybe you are still a hawker selling char kuey tiow after getting laid off?

So you actually tracked the oil price trend vs the frequency of TS updating it here? Come, I give you a medal for all the hard work there.

Hi all taikos and sifus,

It's good to see a lot of discussions here in this forum. I still remember my last post here asking whether to jump ship from construction industry (permanent post) to O&G (contract post), and finally I did.

However, currently I am in dilemma, I am fairly new to this industry, about 2 years of experiences and on contract basis. My contract has been renewed in April this year without salary revision, reason is that industry is in very bad situation (also the reason why I am not absorbed into permanent position although my bosses had recommended my name to the HR). And since it is just 1 year extension, it is more or less about 3 months plus until the expiry of my current contract.

I have discussed with my boss and he cannot guarantee that I will be absorbed into permanent position at current situation, or getting any salary revision next year (if HR approves to extend my contract for another year).
Fyi, my year end appraisal has been quite well, and I think I have progressed quite significantly in my current job. But, the insecurity is always there, and I am really really afraid as I just married early this year and also blessed with a beautiful baby just a month ago.

To shorten the story, I was offered another job, in another industry, as a permanent staff, slightly higher pay (current 3.5k, they offer 3.9k) but NOT as an engineer. So I am dilemma, should I pursue my dream to become a professional engineer in O&G industry, or change course for job security?
If I was a single man, this would be much easier decision to make, but now, having a wife and a baby, permanent position at a new company seems to be a better choice, at least in current O&G situation. I couldn't imagine if somehow my company (local fabricator) decided to not renew my contract. Currently, I am the breadwinner for the family.

Hope to get advice from all sifus here.

Thank you.

Fuel price now have gone out of control?
Really depressed now.

Expected this year is reduce to USD20.  No good.

Notice this trend for sometime oledi. This will more hurt our economy just because want to safe the profits of certain company. Many people will lost their job from this while they hiring cheap foreigners. Government will be very happy for that as they can get alot of tax from there.

Sigh. What to do??

When the Brent goes low enough, say USD 15/bbl, the national oil company will surely downsize its employees. It's just a matter of time.

The company needs to stop hiring now; albeit its own local & overseas scholars.

It is not about GLCs or playing racial cards, it is about when the crude oil price is low enough, the national oil company will start giving VSS. They will retrench their staff sooner or later. Most of the contract workers have been discontinued. I think they would prefer to terminate project team/dd first and keep the operation guys around. At least that is in PCSB, where the root source of money comes from production.

My colleague just got Petro Rabigh as permanent. Package quite good. Hmm, is it good now join there?

(^__^)

I had to join another industry, fail to land a job back into O&G. No job is out there. Most company will say O&G ppl have very high pay we cant afford to pay you guys and you guys will leave the company once the industry recover back. They are worry to hire O&G ppl.

Course details: HERE

Sifus2 here, which one is recommended course in terms of good career path for the future with current economic situation? and high demanding in industry with  just nice salary 

p/s: I'm just graduated with a degree in Chemical eng. tech. in process

oil price now at USD31/barrel?

Anyway, who have official Malaysia oil production cost per barrel?

you must be very close to the PM, since you have access to their annual report? Mind sharing the report?

I really wonder where u get such info, haha

(^__^)

owh yeah?

So please justify;-
a) USD35 is the based cost if they started trim down projects. How u derive that figure. Which projects to trim down & how much the total cost if they trim down based on projects,
b) USD40-45 is based cost now. This due to hire people? Justify the total overhead of petronas & if possible the headcount. And the calculation on before retrench & after retrench cost. How much the saving and how you apply to get USD35 as a basis cost.
c) How much they borrow for CAPEX and where the money spend. If possible justify the spending especially due to any shortfall of budget vs actual cost.