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LABOUR MARKET, 60 USD / barrel: oil and gas sector remains stable

May 19th 2015 at 10:49 PM

In the oil and gas sector, the effects of drastic price declines were absorbed, keeping labor market is about similar to the previous period, say company representatives Premier Global. Although the fall in crude oil prices in general had a serious impact on companies in the oil and gas sector and in related areas, in terms of labor market effects were comparable to those experienced by the industry.

"The sudden drop in oil prices has, in our view, significant effects on the labor market in this sector," said Daniel Neagoe, Business Director, and Premier Global, which provides assessment services, coaching and recruitment.

"One of the ministers of Saudi Arabia, three decades ago, Ahmed Zaki Yamani, held that" the Stone Age did not end for lack of stones, just as the oil age will end long before the world running out of oil ", anticipating the current situation in Saudi Arabia, for example, even though oil prices are at an extremely low level compared with the previous period, intensify crude oil production, preferring to sell when the oil is still in great demand but to stay with deposits will not be recovered as a result of the disappearance of the need for such a source of energy, "mentions Premier Global representative. Call growing workforce Explanations to mitigate the consequences of these drastic price declines observed in several oil barrel aspects that we gave details Daniel Neagoe.

"The drop in oil prices caused, in fact, an increase in production to maintain a high level of income, which will likely keep oil prices at a low level for an additional time period. This can have as a consequence an increase in demand for labor by which to supplement oil production.

There remains a strong demand for professionals in the oil and gas and as personnel turnover in this area is quite high, oil companies will try keeping valuable staff by different motivation, salary packages or rotations favorable, regardless of fluctuations in oil prices. In any case employers offer has not changed and we believe that will not diminish, because in this area, cheap election costs are extremely expensive, with priority attract experienced and qualified professionals who bring added value to the company, of course, in the equivalent remuneration consistent.

" Daniel Neagoe: Premier Global conducts recruitment campaigns for major companies in the oil and gas from the Middle East, Europe and Asia, at volume levels similar compared to the same period of previous years, there is a healthy ratio between supply and demand in the market force work. Also, at least in recent years, no changes were observed on the remuneration packages offered, they still remained at the prior period.

The atmosphere in the sector "Regarding the mood of the oil and gas industry, both human resources managers, and engineers and professionals in this area, in an optimistic note, focuses on continuing contractual obligations in a manner unaffected by fluctuations in market. In other words, job descriptions remained unchanged, equally as benefits were not subject to change, "adds the representative of Premier Global.

In conclusion, "the recruitment for companies in the oil and gas remained at similar levels of volume compared to the same period of previous years; there is a healthy ratio between supply and demand on the labor market. Also, at least in recent years, no changes were observed on the remuneration packages offered, they still remained at the prior period, "specified Daniel Neagoe.

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