Wonder how the bonus payout will be like in 2023 based on 2022 performance.. average brent price was USD 100 for 2022..

Last year in 2022 based on 2021 performance average brent was at USD 70 and heard from friends in Shell bonus paid out was average around 4-5 months

Yup I actually agree with this statement..I use to work in one O&G service provider and almost all the VP level are all expats mainly from India and Europe. Barely can see any malaysian..and this expats they are not cheap..easily 60-70k per month salary plus other benefits..

If this is not looked into few more years middle management Will also be dominated by expats and malaysian forever stuck at fresh grad or exec level...seems like our HR minister also like puppet only can't do anything.

Wah I heard Shell manyak syok this year..friend from bintulu said dpt bonus around 6 months sia..kaokao this year O&G..wondering how much Petronas going to declare

Petronas not sure lol..I think should be around March-April..
I damn jelly my friend at bintulu lol..their pay is crazy and I just found out recently..one is process engineer earning 16k at 33 years old and one more is maintenance engineer earning 27k at 38 years old..

Kita in contractor kipas lalat only..wanna get 1 month bonus also so damn hard..

Anyone know how's the environment at Petronas Digital lol? Got one recruiter reached out to me but its a contract role.. currently in finance with kerang company

Looks like the pay is quite low. Just had a chit chat with the recruiter..I'm an executive at kerang company and I just asked for 20% from my current basic..apparently its assistant manager salary range at Pet Digital..wonder how much their execs are being paid..

Anyone knows if the below article is true:
https://www.google.com/amp/s/www.freemalays...ons-with-shell/

Apparently Shell is planning to close down 35 retail stations in sabah and labuan. Apparently Shell group had been on a extensive cost cutting measures lately even pulled out from Pakistan and most recently closing down the petrochemical refinery in Bukom singapore

Anyone knows what's up with this One subsea JV? Heard its a JV between Aker, Slb and subsea 7..alot of my contacts working in those companies have changed their company profile to One Subsea..so meaning no more aker, slb and subsea 7 moving forward?

This post has been edited by GambitFire: Oct 7 2023, 09:19 AM

Wonder how the bonus and increment is gonna be like for 2024..Average brent for 2023 has been hovering around USD80 ish much lower than USD 100 ish we seen in 2022.

Kerang company is cutting on CAPEX and OPEX for the next 2 years until 2025 under new CEO..he want to increase share price and shareholder distribution..

Not sure if I should jump ship now. got one opportunity with Baker..salary wise not much difference just 10% more. according to recruiter cant top up much since my scale already high.

This post has been edited by GambitFire: Dec 31 2023, 06:59 PM

Anyone knows what's up with the news on a new gas aggregator in Sarawak? Heard its Petros now. Wondering how this is gonna affect Petronas business in Sarawak moving forward..

Heard some rumours kerang company planning to exit fuel station business in malaysia..potential buyer might be Aramco..quite shocking

Heard kerang company is laying off 20% of it’s upstream workforce in Malaysia by end of 2024 dunno true or not.. mostly comprising of well engineers and geologist…

A friend working in cyber also mentioned their service centre has reduced the number of floors occupied and also going through some restructuring, not sure if they are moving out to another country

This post has been edited by GambitFire: Nov 4 2024, 06:02 PM

Based on my observation, the usual fat margins that O&G use to enjoy is slowly dwindling.

1) Competition from EV like Tesla and BYD eating up alot of margins on the downstream side.. just look at Mercedes and VW which reported their profit plunged due to stiff competition in China. Less ICE cars and demand for fuel will also go down.

2) pressure from government to go green..Operators are reluctant to go green because it requires huge capex investment but your ROI takes years to recoup.. to even break even is a miracle already and not forgetting carbon tax is coming soon in Malaysia and it’s freaking costly wonder how contractors are gonna survive

All this competition and pressure is not creating a favourable business in the O&G industry

This post has been edited by GambitFire: Nov 4 2024, 06:23 PM

Yup heard the same as well.. apparently kerang was negotiating to sell of their retail business to Aramco but dunno why suddenly went quiet.. Aramco was keen since it will be a good addition to their portfolio besides Pengerang in johor

I think long term plan, kerang will only be focusing on gas and upstream business in Malaysia.. downstream will be sold of soon..part of their plan to reduce scope 3 emissions..and margins are not so good in their downstream business also.

This post has been edited by GambitFire: Nov 8 2024, 06:52 PM