Just wondering what you guys think is the most stable part (less frequent layoffs) of a company at a major oil and gas company- Shell, Exxon, Chevron, BP Etc
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@4ssz, Yet, here you are, "looking back"...........pathetically with no life or future.....
Do what I did, get out of this sector and don’t look back. This industry will face nothing be headwinds in the future with ESG.
Other industries are front end loading incentives to hire. Take the old school backend payment to leave and parlay into working in new sector.
O&G as an industry deadman walking. Those companies that don’t act fast will public sentiment will see share price fall fast, need to suspense 401K matching, eliminate pension funding and finally reduce dividends to shareholders.
The most stable department at a major oil company? Outplacement.
All operating segments/BUs of an integrated major have their pros/cons. There are some sayings out there as "safer in the fenceline" or "closer to the wellhead" that often correlate to those pros/cons.
As an individual, who has been in major projects, TPS, downstream, and upstream.....just have to figure out what works best and hope you are on the right end of see-saw when the market is unsettling.
Time to move out of oil and gas. Young people should stay away. Constant layoffs. Limited future opportunities. I love this industry but it’s dying. Get out while you can.
IT
HR. They are always the last to go
Nostream. Despite the fact that oil is and will remain the cheapest, most abundant and most efficient energy source for some time, the oil industry as a whole is a dead man walking.
Depends on the role, but I’d argue midstream. Products flows between facilities regardless of commodity price and pipes will always need to be operated and maintained.
Hands down, downstream.
There going to continue to refine oil in almost any environment. Unless, of course there is no supply left or there is no where to put it. (We got close to this point during COVID-19). Some refineries actually shut down.
Upstream will continue until it is not profitable. I don’t really know where that is, I used to think about $25/barrel but it seems we kept going even when prices got below that. Maybe it was just to expensive to quit and then try to startup again, we just had faith prices would go backup, and it did.
Midstream is dependent on upstream. When upstream does well, so does midstream.