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 Oil & Gas Careers V11, Upstream & Downstream, Market still slump ahead...

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TheReaderReads
post Aug 2 2016, 09:05 AM

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Oil price: Dip below $40 a barrel opens door to $35 crude

http://www.cnbc.com/2016/08/01/oil-price-d...o-35-crude.html
http://www.telegraph.co.uk/business/2016/0...o-a-standstill/

I am surprise that they are still at the price war... confused.gif

This certainly got me looking out at the market news. Seem like fracking is here to stay and is able to compete with the big boys. And with some encouragement from Warren Buffet whose big bet on Phillip 66 and Suncor Energy, it probably help boosting these fracking boys to compete even more. There is a saying: when the going gets tougher, then tough gets going...

What more, to compete with brains who has the resources and improving tech vs resource rich country. Resulting in cheap oil price and very good for the consumers.

US whose oil reliance to steer their economy is not as reliant as the arab boys. seem like SA will start borrowing more.

as for MYR, laugh.gif
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post Aug 15 2016, 03:01 PM

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VROOM VROOoooommmmm!!!
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post Aug 16 2016, 08:49 AM

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QUOTE(mark_vyz @ Aug 16 2016, 05:09 AM)
PETALING JAYA: Minister in the Prime Minister’s Department Nancy Shukri is hoping for a quick solution to the issue of non-Sarawakian workers in Petronas in the state, reported Borneo Post Online.
Nancy, who is from Sarawak, said the state government’s decision to freeze new work permit applications by Petronas personnel who wanted to work in the state, had its merits.
In recent weeks, Sarawakian politicians on both sides of the divide have been hitting out at Petronas, after a Sarawakian non-profit organisation, Suarah Petroleum Group (SPG), cried foul over Petronas’s lack of prioritisation of Sarawakians in its operations in the state.
Last Monday, the state government froze all work permits for non-Sarawakian Petronas employees until further notice.
Nancy said she was perturbed by many comments surrounding the issue, and feared that if it was not resolved fast, it would lead to an “unhealthy” relationship between Petronas and the state government.
The PBB leader said Sarawakians were becoming more aware of their constitutional rights and the state government had to act accordingly in their interests.

Nancy, who is Batang Sadong MP, voiced hope that Petronas and the state government would resolve the issue promptly.
“There may be opportunists out there wishing us to prolong the issue which doesn’t bring us anywhere. Just think of the employees who have families to feed and continue with their family responsibilities.”
Meanwhile, in another Borneo Post online report, DAP Serian chairman Edward Andrew Luak called on Petronas to emulate Shell Malaysia, which practised ‘Borneonisation’ of its management team in the state.
Edward, a former Shell employee, said in Shell, Sarawakians headed most of the various sections of the operations in its Miri headquarters, while Sarawakians were also put in charge of the operations, technical division, personnel management, corporate affairs and others.
“We witnessed Shell Malaysia, Sarawak Operations and Shell MDS being led by Sarawakians. This scenario is hardly seen in Petronas.
“The board of directors of Petronas and its subsidiary companies, particularly Petronas Carigali, are Malayan (Peninsular Malaysian)-monopolised. Promotions in Petronas are Malayan-driven. Recruitment of professionals, as well as technical staff, is Malayan-driven.
Edward said many people in the state believed that there were Sarawakians who were on par or even better than their Peninsular Malaysian peers, since many of them were among the cream of the crop from local and overseas institutions of higher learning.

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and these shell staffs are cream of the crops

many of these creams would rather ditch petronas for shell if not mistaken.

just shows that sarawakians too have their quality people.
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post Aug 24 2016, 01:33 PM

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wanna see this topic continued here brows.gif

http://www.freemalaysiatoday.com/category/...ssure-petronas/

QUOTE
PETALING JAYA: Is there more to the ruckus over Petronas’s employment policy in Sarawak than meets the eye, asks the Sarawak division of the Malaysian Trades Union Congress (MTUC).

The Sarawak Government recently froze work permits for Petronas staff to work in the state to ensure the national oil company would be fair and transparent in engaging Sarawakians with regard to its operations in the state.

“Politics should not get in the way of hiring or firing. Businesses should not be dictated by some politicians for their own political and business agendas.

“Is all the noise over Petronas’s employment policy just a ruse to get more Petronas contracts for connected companies?” Sarawak MTUC Secretary Andrew Lo asked in a statement released today.

He said all recent news reports on the issue also risked creating a negative image of those interested in investing in Sarawak.

Speaking on the Petronas retrenchment exercise which saw a number of employees, including 13 senior executives, made redundant, Lo said the national oil company’s actions were nothing new.

“Given the current low oil prices and changing financial conditions, such redundancies are to be expected.”

Responding to a comment from Sarawak Deputy Chief Minister James Masing yesterday that the state government was “not stupid” to prioritise employment for Sarawakians at the expense of quality, Lo said MTUC was not questioning the intelligence of Sarawak ministers.

“We only ask why the Sarawak Government is making a fuss over the employment issue in Petronas’s operations in the state after having issued so many work permits for non-Sarawakians all these years.

“Also, why, despite both the federal and state governments being under Barisan Nasional, has the state government allowed such blatant discrimination and exploitation for so long?”

The MTUC statement also called for Chief Minister Adenan Satem to look beyond just trying to protect the interests of 13 senior executives laid off by Petronas, while “turning a blind eye to the tens of thousands of foreign workers depriving ordinary Sarawakians of a decent job with decent wages.”

“They are now everywhere, including the services sector, which is not a 3D (dirty, dangerous and difficult) job.
“So, why didn’t we freeze issuance of permits to these tens of thousands of foreign workers, not to mention the inaction on the thousands of illegal ones?”

Lo also brought up a number of issues in the past, when the Sarawak Government did not voice out or act on the issue of “protecting Sarawakians” over the issue of employment.

These were when:
1. A state government majority-owned company retrenched senior employees in 2011 because, in the words of the then Chief Minister Abdul Taib Mahmud, there was a need “to get rid of employees” (who were all Sarawakians).
2. A state-linked company dismissed both the president and secretary of the staff union for issuing a union circular.
3. Another company, with substantial state interests, dismissed union officials on the grounds of redundancy.
4. A state-linked oil palm company retrenched staff without any notice at all.
5. Petronas abolished the allowance paid to lower-ranked Sarawakian staff.
6. The majority of workers in the oil palm industry, which was under Masing until recently, were paid only minimum wages.
7. At least 80 per cent of the workforce in the oil palm and timber industries were foreigners, including a large number of estate managers from Peninsular Malaysia.
8. The Sarawak Government does not pay cost of living allowance to civil servants in the state despite the Federal Government paying it in Kuala Lumpur/Putrajaya and state governments in Peninsular Malaysia doing so.


Referring to what he termed “double standards”, Lo said: “It seems that the state government’s claims to protect Sarawakians’ interests are limited to protecting the interests of senior and connected Sarawakians and Sarawakian companies.
“Is this what autonomy is about?”

TheReaderReads
post Aug 24 2016, 01:54 PM

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QUOTE(Stamp @ Aug 24 2016, 01:48 PM)
I think you should move this discussion to Kopitiam or RWI.  blink.gif
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hahaha! saw this in /k, so i bring it here to troll since it was hot topic here couple weeks back. drool.gif
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post Aug 30 2016, 01:04 PM

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QUOTE(sukhoi35mk @ Aug 28 2016, 12:46 PM)
i think the biggest risk to local O&G industry is everyone is too depending on Petronas... everyone is borrowing money just to pay operation bills.
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swiber-in-the-making
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post Sep 8 2016, 03:54 PM

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for you OIL GEEKS

ENJOY~ drool.gif



inb4 SLOW
TheReaderReads
post Jan 2 2017, 07:41 PM

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QUOTE(feekle @ Jan 2 2017, 06:29 PM)
Screw palm oil..lets open eatery shop. Minyak naik..we kasi naik also food price. LeL
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minyak turun, makanan xleh turun tongue.gif
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post Jan 20 2017, 09:20 AM

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QUOTE(undertaker123 @ Jan 20 2017, 08:40 AM)
dayum

didn't U&W just did some hiring a couple of months back to a year?

now this?

I wonder what will happen to those existing staffs and newly hired blink.gif
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post Mar 14 2017, 05:35 PM

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QUOTE(mafa2801 @ Mar 14 2017, 11:37 AM)
Looks like the price down again..
so, those who works in the sector..whats the best advice?
Stay in the sector and remain calm for couple of years..OR
Jump into other industries?
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if history repeats itself like it always does for recession,

looks like we may have at least 5 years of cheap oil for the global market

unless suddenly india picking up like china before and started consuming oil for their mega development like china years ago


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TheReaderReads
post Mar 14 2017, 11:34 PM

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QUOTE(mafa2801 @ Mar 14 2017, 05:42 PM)
Interesting. but does the cost of living reduce or remain stagnant? hmm.gif
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continues to go up up up brows.gif
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post Mar 18 2017, 06:57 PM

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If oil price shoot up, our petrol n daily expenses food n etc also shoot up

This is very very conflicting

Haha
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post Apr 7 2017, 12:02 PM

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who is the structural firm for bokor?
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post Apr 14 2017, 02:10 PM

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QUOTE(mohdyakup @ Apr 14 2017, 01:06 PM)
Yup slowly recruiting especially on Upstream.

But Rapid Pengerang aggressively hiring like mad hehe
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Bcuz they predict cheap oil n gas laboratory will soon disappear?

Or more ppl will return to offshore. So grab them before its to late?
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post Apr 16 2017, 08:14 PM

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WHP for bokor who?
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post May 31 2017, 09:53 AM

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Oil & Gas in my opinion is may not necessary be a sunset industry but it does has its ups and downs

when it is in its ups, all good but when it is in its downs... then it would stretch on for years and years and years

you also must take note that when this industry recovers, it will go down again in another 10years and u will again face another retrenchment scares possibility. my boss tells me that he sees this downtimes 3 times in his career in oil and gas and he is lucky enuf to have job until today

I did see some of my ex-HOD being retrenched in this tough oil n gas period

then again, will the price go up like it was before at USD100? oil n gas is very much affected by the big movers in world politics. the over-abundant supply of unconventional oil in USA and CHINA will definitely affect oil prices with their competition from Saudi and if south america stabilises, then more oil competition will come in.

im no more in oil n gas, and I dunno whether I wanna be back. I just dont want to see another retrenchment scare when I have big houses (when u have good time oil n gas salary, it is normal to get bigger house and add some additional houses for investment) and families and kids to send to university overseas and etc etc that would add up to your commitment.

This post has been edited by TheReaderReads: May 31 2017, 04:06 PM

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