Learning about recruitment trends
The upstream oil and gas industry is still struggling to get back on its feet, (with a few exceptions such as the US lower 48). There are so many good people still looking for work around the world. If it's been a while, it might be that you've let some of the good job hunting practices slide a little.
It makes sense to follow the latest in industry trends and advice from other manpower companies, both in the energy industry and beyond. Sometimes these articles have interesting points that are worth sharing. Other times there will be things that we disagree with. Either way, we all need to keep our fingers on the pulse…
Resume VS social media
Kelly Services provide statistics on how hiring managers research candidates. Interestingly, their surveys showed that only 9% look at social media when reviewing candidates. Only 2% prefer a personal website and 1% have a preference for LinkedIn over the traditional resume.
Fortunately, our advice is vindicated, because the article makes it clear that there is a strong consensus among the scientific community about the benefits of using social media.
Here is a quote from the article:
"The majority of scientific professionals surveyed by Kelly® (70 percent) say social media is their primary method of networking, and 37% use their social media networks when making career or employment decisions. Add to this the fact that employee or industry referrals are top ways hiring managers find talent, and it's clear that social media is a vitally important tool for establishing and building relationships with your peers and industry leaders."
The title of the article was ‘Résumé Versus Social Media: What do Hiring Managers Really Check?' I commented that that might not have been the best title to use. Versus means there is an implied conflict when resumes and social media work together to help you increase your chances of getting that new role.
Your resume/CV is definitely the most important tool in your job hunting efforts. We see a fairly high percentage submitted to us with out of date or unnecessary information. It can take a few hours and some back and forth emails to get the accurate information ready to pass on to a hiring company.
Once your CV is rectified, then what? This task might take a few hours. In addition to that, you need to work through all of the other necessary steps to put yourself in a good position. One of these steps involves your social media presence.
So in the battle to get a job perhaps your sword (resume) is the most important. You will want a shield, helmet and armour and some good walking boots if possible too. In fact, you want to be fully prepared and equipped.
In practical terms, here are a list of things that you can do to maximise your chances, you can…
1) Create or update your social media presence and personal blog
2) Start to visit all the places online that cover job vacancies and job searches
4) Continue your education, both formal and informal
5) Be prepared to put the hours in, just as if you were working on a challenging contract
8) Start exercising
9) Quit alcohol
10) Read self-help/philosophy books
11) Cut personal expenses etc…
12) NETWORK, NETWORK, NETWORK
Alright, you don't need to give up alcohol or exercise too hard. This is just a short (incomplete) list to give you some suggestions or ideas moving forward.
Then, when the next perfect job vacancy comes up it will be met by you at your very best. A finely tuned and optimised candidate with no apparent chinks in your armour whatsoever.
Something interesting to share?
Join NrgEdge and create your own NrgBuzz today
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%)