17 April 2017, Singapore
NrgEdge is pleased to welcome, Haria Djuli, coming on board as Advisor.
Haria brings with him over 11 years of experience in corporate talent acquisition in the Energy, Oil & Gas industry, spending over a decade of his career with the Shell group in various locations including the Netherlands, Qatar and Malaysia since 2005. Haria’s direct experience in various markets in Europe, Middle East and Southeast Asia gives him a strong understanding and knowledge of the competitive nature of talent acquisition in the global Oil & Gas sector. His hands-on involvement in recruiting talents ranging from roles in senior management to technicians for both onshore and offshore operations has allowed him to appreciate the various complexities and intricacies involved in meeting organizational goals in talent management. As a firm believer that organisations need to develop their own talents to build a sustainable and successful business, Haria was also actively involved in campus recruitment programs both locally in Malaysia and overseas, where he provided guidance to young university graduates on career advancement in the Oil & Gas industry.
Haria’s invaluable experience in corporate recruitment in the Oil & Gas sector provides an excellent resource for members in the NrgEdge community. His role as Advisor will certainly add value to our members’ NrgEdge experience, as he will be sharing his in-depth knowledge on best hiring practices and successful execution of hiring strategies for companies and HR personnel and insider career advice to job-seekers and students. “We are excited to welcome Haria into our team,” said Mohammad Khalid, Co-Founder and CTO, NrgEdge. “With over a decade of industry expertise hiring in the oil & gas industry with key oil major, Haria will be a great asset and will be able to provide valuable insights and guidance to the companies and users on NrgEdge.”
About NrgEdge - Refueling Employability in the Oil & Gas Industry
NrgEdge is the newest professional networking platform for the Energy, Oil & Gas industry, aimed at creating a holistic environment that will empower members to excel at every point in their career journey and to assist companies in hiring more effectively. Focusing on the Asia-Pacific region, NrgEdge has amassed close to 10,000 registered users from the Energy, Oil & Gas industry in the area since our launch in Oct 2016.
NrgEdge was born as a response to the current Oil crisis, to enable the community to retain its most qualified and experienced members and enable current and new professionals to be engaged and maintain growth while awaiting market recovery. The oil price slump has taken its toll on the O&G workforce, where over 350,000 jobs have been cut by O&G production companies since 2014. Amidst the fluctuations in Oil & Energy in recent years, some things remain constant – companies hunting skilled employees and professionals looking for new opportunities.
While the O&G industry is a mature one and conservative by convention, it is important for the industry to constantly update processes with new technologies to adapt to new audiences. This is especially crucial with the ‘skills gap’ the industry is facing, with senior professionals leaving the industry and only inexperienced new graduates to replace them, leading to a loss of valuable knowledge. NrgEdge helps to bridge this gap by creating a space for knowledge-sharing and upskilling with E-Learning initiatives such as webinars, Virtual Reality-enabled courses and Q&A forums. Jobseekers are well-equipped to explore new opportunities in the NrgEdge Job Portal with the Career Passport, a professional resume designed to showcase capabilities and key project achievements.
NrgEdge also helps Companies build their brand awareness, elevate their corporate standing and streamline hiring processes through competencies-matching to allow a more efficient workflow, where companies can easily filter and find skilled individuals that best match their job requirement and connect with current and potential employees.
From new graduates to experienced professionals and companies, NrgEdge provides a universal platform for current and potential members of the Energy, Oil & Gas industry to excel in their career.
NrgEdge is available on the web (www.nrgedge.net) and via the NrgEdge native app on both iOS and Android platforms.
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Headline crude prices for the week beginning 11 February 2019 – Brent: US$61/b; WTI: US$52/b
Headlines of the week
Midstream & Downstream
Global liquid fuels
Electricity, coal, renewables, and emissions
2018 was a year that started with crude prices at US$62/b and ended at US$46/b. In between those two points, prices had gently risen up to peak of US$80/b as the oil world worried about the impact of new American sanctions on Iran in September before crashing down in the last two months on a rising tide of American production. What did that mean for the financial health of the industry over the last quarter and last year?
Nothing negative, it appears. With the last of the financial results from supermajors released, the world’s largest oil firms reported strong profits for Q418 and blockbuster profits for the full year 2018. Despite the blip in prices, the efforts of the supermajors – along with the rest of the industry – to keep costs in check after being burnt by the 2015 crash has paid off.
ExxonMobil, for example, may have missed analyst expectations for 4Q18 revenue at US$71.9 billion, but reported a better-than-expected net profit of US$6 billion. The latter was down 28% y-o-y, but the Q417 figure included a one-off benefit related to then-implemented US tax reform. Full year net profit was even better – up 5.7% to US$20.8 billion as upstream production rose to 4.01 mmboe/d – allowing ExxonMobil to come close to reclaiming its title of the world’s most profitable oil company.
But for now, that title is still held by Shell, which managed to eclipse ExxonMobil with full year net profits of US$21.4 billion. That’s the best annual results for the Anglo-Dutch firm since 2014; product of the deep and painful cost-cutting measures implemented after. Shell’s gamble in purchasing the BG Group for US$53 billion – which sparked a spat of asset sales to pare down debt – has paid off, with contributions from LNG trading named as a strong contributor to financial performance. Shell’s upstream output for 2018 came in at 3.78 mmb/d and the company is also looking to follow in the footsteps of ExxonMobil, Chevron and BP in the Permian, where it admits its footprint is currently ‘a bit small’.
Shell’s fellow British firm BP also reported its highest profits since 2014, doubling its net profits for the full year 2018 on a 65% jump in 4Q18 profits. It completes a long recovery for the firm, which has struggled since the Deepwater Horizon disaster in 2010, allowing it to focus on the future – specifically US shale through the recent US$10.5 billion purchase of BHP’s Permian assets. Chevron, too, is focusing on onshore shale, as surging Permian output drove full year net profit up by 60.8% and 4Q18 net profit up by 19.9%. Chevron is also increasingly focusing on vertical integration again – to capture the full value of surging Texas crude by expanding its refining facilities in Texas, just as ExxonMobil is doing in Beaumont. French major Total’s figures may have been less impressive in percentage terms – but that it is coming from a higher 2017 base, when it outperformed its bigger supermajor cousins.
So, despite the year ending with crude prices in the doldrums, 2018 seems to be proof of Big Oil’s ability to better weather price downturns after years of discipline. Some of the control is loosening – major upstream investments have either been sanctioned or planned since 2018 – but there is still enough restraint left over to keep the oil industry in the black when trends turn sour.
Supermajor Net Profits for 4Q18 and 2018
- 4Q18 – Net profit US$6 billion (-28%);
- 2018 – Net profit US$20.8 (+5.7%)
- 4Q18 – Net profit US$5.69 billion (+32.3%);
- 2018 – Net profit US$21.4 billion (+36%)
- 4Q18 – Net profit US$3.73 billion (+19.9%);
- 2018 – Net profit US$14.8 billion (+60.8%)
- 4Q18 – Net profit US$3.48 billion (+65%);
- 2018 - Net profit US$12.7 billion (+105%)
- 4Q18 – Net profit US$3.88 billion (+16%);
- 2018 - Net profit US$13.6 billion (+28%)