Easwaran Kanason

Co - founder of PetroEdge
Last Updated: November 2, 2016
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Business Trends
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Saudi Arabia’s energy minister doesn’t foresee that oil demand will be affected by global efforts cut carbon emissions, report Elena Cherney and Ahmed Al Omran. Global appetite for oil and gas will continue to grow despite intensifying efforts to curb climate change, even as renewable energy plays an increasingly larger role in the energy mix, the Saudi Energy Minister Khalid Al-Falih said at an energy conference in Riyadh on Tuesday. However, the global climate accord reached in Paris last year, so called COP21, will “turn debate into action” and lead to greater efforts world-wide to limit climate change, said Mr. Falih, who is also the chairman of Saudi Arabian Oil Co., known as Saudi Aramco.

In response to the downturn in oil prices, Saudi Arabia unveiled a plan to diversify its oil-dependent economy and is set to move ahead with the initial public offering of Saudi Aramco., which has been valued at more than $100 billion.

Meanwhile, a Saudi Arabian sovereign-wealth fund set to take ownership of state-owned oil giant Saudi Aramco., has been hailed as the least transparent fund in the world, writes Simon Clark. A recent report ranked the so called Public Investment Fund, or PIF, which was created in 1971, as less transparent than a fund belonging to Equatorial Guinea, which currently ranks as the most opaque in the world. The Saudi fund has a website with one page in Arabic and another in English that says it is “under development.” 

“I found a website and that was it,” said Ted Truman, a former senior financial diplomat at the U.S. Treasury and Federal Reserve who compiles a ranking on the transparency of sovereign-wealth funds for the Washington-based Peterson Institute for International Economics. “We didn’t score it because it was close to zero.” The fund didn’t respond to a request for comment. Last year the fund received a new board chaired by Saudi Deputy Crown Prince Mohammed bin Salman, who has said that it will eventually be worth almost $3 trillion. In June, the PIF invested $3.5 billion in ride-hailing service Uber Technologies Inc.

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Infographic: Oil and Gas Scams & How to avoid them!

Oil and gas sector is one of the most lucrative sectors for job seekers from industries all over the world. It offers great salaries and benefits packages and an opportunity to travel and work overseas. Due to its high demand, scammers are preying on the vulnerable oil and gas workers. To ensure you don’t fall prey to their mischievous tactics, we would recommend reading our guideline below:

How does scamming occur? 

The scammer poses as an employer or recruiter of an oil and gas company or he may claim to be an employee or recruiter for a job consultancy firm catering to the oil and gas industry. They offer irresistible employment opportunities and often demand money in advance to conduct further processes. Money is often demanded on the pretext of work visas, travel expenses, background or credit checks that the job requires.

What do scammers want from you?

 It is important to understand what the scammer's agenda is so that it helps you shield yourself from getting conned:

To extract money: On the pretext of getting you a job in the energy sector employing any of the tactics mentioned above

For identity theft: scammers look for valid identity of people and ask for confidential personal details including bank details to commit fraud through your name or to withdraw money from your account.

Whatever be their modus operandi, their goal is to either separate you from your cash or accomplish an identity theft. The bigger problem is, the scammers are getting better at their game and coming up with innovative ideas to lure innocent job seekers. In oil and gas industry, the scammers are targeting the job seekers from overseas, immigrants or contractors as they feel it is easier to attract them on the pretext of work permits, high salaries, paid travel, better lifestyle in the first world countries.

How to spot a job scam and keep yourself secure?

 There is always a difference between real and fake, all you need to do is be watchful to notice the underlying discrepancies. There is a pattern that scammers usually follows, which is discussed below. Make sure you watch out for these red flags when you receive any job offer next time:

Free email provider - No legitimate hiring agency or company will use the services of free email provider like Gmail, Hotmail, or Yahoo. So, if you are receiving an email or have been requested to share your details on emails that use free email services, then be extremely cautious. The scammers try to trick the job seekers by using an email address that looks authentic for instance: [email protected]. It is important to notice here that the ‘xyz’ part of the email ID is usually a gmail, yahoo, etc. which is a free email address. A legitimate job provider would never use.

Fake or new company name - If company name or oil and gas recruitment agency name is mentioned along with the free email id, then do a quick search on the company. Verify its existence and contact them via official email address and contact numbers mentioned on the website. Check their social media presence too. If the website and social media page look new while the company claims to be in business for a substantial amount of time, know for sure that there is something fishy.

Bad grammar and confusing job details - The scammers usually do not pay much attention to structure the mail. You can spot grammatical errors and even the job descriptions are not explained well or is completely different than your skillset and experience. Any authentic mail from a company or oil and gas recruitment agency will ensure an error-free, concise, and clear communication

Fee to conduct a job interview - No legitimate oil and gas company or recruitment agency will ever ask for money to conduct a job interview or to apply to job positions. If the mail says, the money will be refunded once you appear for a job interview, then please do not trust such claims as it is always bogus.

Asking for confidential personal information - Anyone asking for information that you will never put on CV, is a warning sign. It includes your bank details, passport copy, identity cards, your current residential details and so on. No genuine company will ever ask for such details before you sign the offer letter. If by chance, you have shared your bank details or another confidential detail to the scammer, contact your bank and email service provider and register a complaint against it.

Unknown source - There are countries who have strict spam rules and until you subscribe or give consent to the company, they cannot send you emails. So, if you receive an email from a company you haven’t contacted or have not applied for jobs, then be cautious it might be a scam.

The principle on which scammers operate is “Too good to be true”.  Don’t entertain any job offer that offers a position, you are not qualified for or offers a salary which is unrealistically high. In the oil and gas sector, be careful not to reveal your passport/work visa details to the scammer. Remember, if you find anything which is way beyond the realistic expectations, then trust your instincts and drop the offer and do not respond.

See our infographic below for a quick summarized glance -


 If you are looking for a job in the Energy sector then sign up today to stay updated with the latest industry news, apply for jobs and network - https://www.nrgedge.net/jobs 

November, 04 2018
Infographic: Pros and Cons of App Based Talent Search in Oil and Gas


Searching for the right talent is often a tedious chore for the HR. However, with technological improvements, the usage of app-based recruitment has increased manifold. Recruiters and job seekers are increasingly adopting this new method. A mobile application simplifies the labor-intensive and time-consuming recruitment task and comes loaded with features that help to automate the recruitment cycle. For all the good, app-based approach can do, it still comes under fire from the critics. Here's our take on the pros & cons of App-based talent search.


November, 16 2018
Asif Mukri
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November, 15 2018