A rewarding career doesn’t just happen. You need to be committed to it and manage it carefully. Whether you have just started working or you have reached managerial level, keeping your career on track is crucial. Career management demands careful attention and constant evaluation. It is an ongoing process that will keep you in charge of your growth and direction.
Employment is no longer a given; instead you need to monitor your career to be certain you are offering the employer the best candidate available - yourself. This means staying in touch with changes in the workplace and knowing what is necessary to keep your skills in demand. This will enable you to achieve the right balance between work and learning throughout your working life.
Firstly, evaluate your long-term career goal. This goal is the ultimate destination you hold for your career. To define this goal, ask yourself a few questions such as, “What would I like to be doing?” “How would I like my list of accomplishments and achievements to read?” or “To what end do I continue developing my professional skills?”Self-assessment
Conduct a self-assessment of your knowledge, skills, abilities, accomplishments and experiences to understand where you currently are in your career. Identifying both your strengths and your weaknesses will provide assurance that you are pursuing the right career path and by defining your main skill set you can begin the evaluation process.
It is worth considering your skills in terms of specific categories. These could be: technical knowledge; industry knowledge; regional awareness - geographical locations previously worked in; commercial skills - transferable skills, financial, accounting, budgeting and languages; and managerial skills such as business development, project and manpower management. This type of assessment should result in a clear profile of what you have to offer.
Establishing goals on your career path will provide you with direction and a way to measure your success, guiding your progress. Benchmarks in your plan are short term, achievable sub-goals: plan these with a realistic timescale in mind. It is important to be realistic when you set goals, taking into account the things that are most important to you and that may factor into decisions you may be faced with during your career. Your goals should also address subjects like professional achievement, earning potential, lifestyle desires and personal issues involving family, education and leisure time.Target setting
Once you have defined your first benchmark, start planning the steps you need to take to get to it and at each benchmark, conduct another personal audit. You might also find it helpful to create an annual plan each year between now and your long-term goal, which will assist you in understanding how far you have come and what more you need to accomplish. Update your CV at every benchmark, as it is the document that best represents you as a professional and should be your personal marketing tool.
Understand which actions have the most importance to your long-term career goal and start executing these first. The more important the action to your long-term career goal the more importance you should attach to it. Assess your progress and refine your career plan at each stage. Be flexible - if you need to make adjustments to your sub-goals based upon new information then re-evaluate your plan.
In order to successfully maintain lifelong learning you must address areas such as: self-awareness - knowledge of your strengths, skills, values and interests; self-promotion - identifying needs in the workplace and matching your own knowledge, strengths and skills to them; networking - being able to develop and effectively make use of a network of contacts; negotiation - the ability to discuss, compromise and form an agreement to make decisions and solve problems; political awareness - understanding the way organisations function and how people’s power structures within organisations operate.
Keep on top of what’s happening in the industry you are interested in, anticipate the trends and factor them into your career planning. For example, you might want to start cultivating expertise in technical fields that you think will become crucial in the next few years.
Remember that any meteoric changes take preparation and hard work. It is not enough to be ambitious. You must be committed to lifelong learning and focused on your own personal and professional development. The lessons and skills you learn on the path to accomplishing your goal can be as rewarding as finally reaching it.
*This article was first published on 1st June 2014 by Paul Robinson, Business Development Manager in Oil & Gas
and is reprinted here with full permission.
**About the Writer:
Experienced Recruiter/Manager with over 20 years in Recruitment including 12 years in the Malaysia Oil & Gas Industry.
Paul is a member of a number of committees supporting both Malaysian, British and Australian companies. These include, MOGSC Subsurface and Drilling Committee, MOGSC Decommissioning Committee, MOGSC CTWG committee, Austrade Oil & Gas Committee Malaysia, EIC Energy Committee - Asia and most recently British Malaysian Chamber of Commerce Energy Committee.
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Now that Occidental Petroleum has beaten Chevron to the acquisition of Anadarko Petroleum – and the strategic assets it holds in the prolific Permian Basin – one would think that the deal is cut-and-dry. Not so. The fallout of the massive US$57 billion deal has begun, and it pits one legendary billionaire against another legendary billionaire.
The Occidental purchase of Anadarko had all the signs of a classic takeover battle, swooping in after Chevron and Anadarko’s boards had approved their own US$48 billion deal. It was made only possible by Oxy CEO Vicki Hollub making a quick private plane trip that resulted in a last-minute US$10 billion capital injection from Warren Buffet’s Berkshire Hathaway that was contingent on the Anadarko purchase working. It did. And with the US Federal Trade Commission approving the deal, Anadarko will become part of Occidental by the end of 2019.
But not everyone is happy about the situation. Some investors and shareholders of Occidental believe that it badly overpaid for Anadarko, and were rankled by the deal bypassing a shareholder vote on the matter. The chief critic of this is activist Carl Icahn, who owns a US$1.6 billion stake in Occidental, who slammed it as ‘misguided’ with the CEO and Board ‘betting the company to serve their own agendas’. Icahn has already filed a lawsuit demanding access to Occidental’s books and records, and has just take the fight to a new level.
Last week, Icahn filed regulatory paperwork to call for a special shareholder meeting where he hopes to oust four of Occidental directors and modify the company’s charter through stockholder consent from ever engineering a similar takeover. Icahn wants Spencer Abraham, Eugene Batchelder, Margaret Foran and Avedick Poladian out from the Board, holding them responsible for the ‘fiasco’. He has, of course, nominated his own preferred replacements, including one of his portfolio manager’s Nicholas Graziano, his general counsel Andrew Langham, former Jarden finance chief Alan LeFevre and former president of Shell John Hofmeister. While Icahn has publicly acknowledge that the Anadarko takeover will probably go ahead, his aim is for the new Board to oversee ‘future extraordinary transactions to ensure that they are not consummated without shareholder approval where approval.’
Will it work? Before the proxy fight can go ahead, Icahn must get at least 20% of shareholders to agree to a meeting. That’s a tall order, given that the current crop of directors and Boards were re-elected at the May annual meeting, although with lower support. But there is certainly some appetite, given that Occidental’s stock has dropped nearly 17% since the initial April hostile takeover, reflecting market mood that it had bitten off more than it could chew.
All of this is playing out against a backdrop of pessimism in the Permian. Although the shale revolution had brought American crude production to record highs and sent its crude exports to a new record of 3.3 mmb/d in June, there are now cracks showing. With limited infrastructure, low prices and over-exploitation, the Permian boom is slowing down. Once an investor’s darling, financing has now become far tougher for Permian players, as the high production fall off rate means that companies have to spend more and more money to just maintain production. It’s a situation that is particularly negative for the small, nimble players that powered the initial shale revolution who lack the deep pockets to optimise shale assets over a longer production period. All across the Permian, independent players have lost between 50-100% of their market value, making them ripe for acquisition by majors and supermajors. Deals like the Anadarko one make sense in this context, but with the financial risk increasing, these blockbuster deals may never lead to blockbuster returns. Carl Icahn may not be able win his battle for the Occidental board, but he is certainly making a serious – and very valid - point.
The Occidental-Anadarko deal:
According to the Nigeria National Petroleum Corporation (NNPC), Nigeria has the world’s 9th largest natural gas reserves (192 TCF of gas reserves). As at 2018, Nigeria exported over 1tcf of gas as Liquefied Natural Gas (LNG) to several countries. However domestically, we produce less than 4,000MW of power for over 180million people.
Think about this – imagine every Nigerian holding a 20W light bulb, that’s how much power we generate in Nigeria. In comparison, South Africa generates 42,000MW of power for a population of 57 million. We have the capacity to produce over 2 million Metric Tonnes of fertilizer (primarily urea) per year but we still import fertilizer. The Federal Government’s initiative to rejuvenate the agriculture sector is definitely the right thing to do for our economy, but fertilizer must be readily available to support the industry. Why do we import fertilizer when we have so much gas?
I could go on and on with these statistics, but you can see where I’m going with this so I won’t belabor the point. I will leave you with this mental image: imagine a man that lives with his family on the banks of a river that has fresh, clean water. Rather than collect and use this water directly from the river, he treks over 20km each day to buy bottled water from a company that collects the same water, bottles it and sells to him at a profit. This is the tragedy on Nigeria and it should make us all very sad.
Several indigenous companies like Nestoil were born and grown by the opportunities created by the local and international oil majors – NNPC and its subsidiaries – NGC, NAPIMS, Shell, Mobil, Agip, NDPHC. Nestoil’s main focus is the Engineering Procurement Construction and Commissioning of oil and gas pipelines and flowstations, essentially, infrastructure that supports upstream companies to produce and transport oil and natural gas, as well as and downstream companies to store and move their product. In our 28 years of doing business, we have built over 300km of pipelines of various sizes through the harshest terrain, ranging from dry land to seasonal swamp, to pure swamps, as well as some of the toughest and most volatile and hostile communities in Nigeria. I would be remiss if I do not use this opportunity to say a big thank you to those companies that gave us the opportunity to serve you. The over 2,000 direct staff and over 50,000 indirect staff we employ thank you. We are very grateful for the past opportunities given to us, and look forward to future opportunities that we can get.
Headline crude prices for the week beginning 15 July 2019 – Brent: US$66/b; WTI: US$59/b
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