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 Oil & Gas Careers V8, Upstream and Downstream, Crude Oil (WTI): USD 45.22/bbl

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flash7
post Dec 1 2015, 08:13 PM

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From: KL

QUOTE(MEngineer @ Dec 1 2015, 06:08 PM)
3k for 2.5 years experience is pretty low. Fresh grad for major O&G players ranged from 3.5k to 5k.

This year need at least 6% increment to cover GST, toll hikes, inflation and weak ringgit. If no increment it is actually a pay cut not even breaking even aih.
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Can confirmed. My friend is currently working for national oil company for a year plus now and his current salary is 5k+
flash7
post Jan 8 2016, 02:17 PM

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QUOTE(supersound @ Jan 8 2016, 02:07 PM)
Well, this is what will happen when petronas goes against the market norm. Whole world are trimming down manpower but Petronas still keep on hiring people for no reason.
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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.
flash7
post Jan 8 2016, 04:02 PM

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QUOTE(supersound @ Jan 8 2016, 02:22 PM)
But not for Petronas, as it is political base driven.
All GLCs are the same, applying racial policies, keep on hiring not need employees just to get votes. MAS was the best example for the recent 2 years shocking.gif
When the price touches USD40, most O&G companies are suffering already. Like Royal Dutch going to buy a bankrupt company by laying down some of the employees and selling off assets worldwide just to get cash for this century bail out.
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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.

 

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