Most of us like to think of ourselves as citizens of the world, living in a borderless world where our place of residence is split between various social media outlets; Facebook, Instagram or Twitter and the likes. To some, it results in social media turning into their daily journal or diary, an avenue for show-and-tell of everything and anything about their lives. Yes, everyone has a right to say and do as they please, but there is also a risk that someday it may affect your career. In this day and age, what you say and do on social media may affect your employability.
According to a survey by CareerBuilder, an American human capital solution company, over 70% of employers, go through candidates’ social media pages to screen them prior to hiring. Social recruiting is not uncommon either. This is when employers hire someone dedicated to research job applicants online. With no holds barred on the world wide web, searches on candidates are not merely limited to social media platforms but also include search engines such as Google, Yahoo or Bing and the likes. Therefore, one’s online image is crucial as in some cases, it is the first impression given to a prospective employer.
Everyone wants to be taken seriously when being considered for a job. There is cause and effect for every one of our actions in the social media world. Hence, take note of the following that employers look out for when screening potential candidates:
While there are many don’t’s for an online persona, do not be demotivated by it. A negative image online leads to less likelihood of being employed, however, the other extreme of having no online presence at all, is a deterrent too. Being a ‘ghost’ online is detrimental to your employability criteria. Employers are less likely to even interview a candidate who has no online presence whatsoever. So, instead of deleting all of your online profiles or hiding them, here are some ways you could use social media to your advantage and boost your profile:
The job markets is extremely competitive these days, hence there is always the extra pressure of standing out and being unique in comparison to fellow job seekers. So, exercise caution in “trying too hard” as well. Spruce up your online persona’s and make it relevant to who you are and want to be as a professional. While it is important to keep the prospective employer in mind, be cautious that every individual is different and each employer will have its own set of criteria, likes and dislikes. There is no “one size fits all”. Harvey Mackay, renowned businessman, author and career columnists once said, “You'll never please everyone, but you only have to please a few people to get an offer."
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Headline crude prices for the week beginning 11 March 2019 – Brent: US$66/b; WTI: US$56/b
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GEO ExPro Vol. 16, No. 1 was published on 4th March 2019 bringing light to the latest science and technology activity in the global geoscience community within the oil, gas and energy sector.
This issue focuses on new technologies available to the oil and gas industry and how they can be adapted to improve hydrocarbon exploration workflows and understanding around the world. The latest issue of GEO ExPro magazine also covers current training methods for educating geoscientists, with articles highlighting the essential pre-drill ‘toolbox’ and how we can harness virtual reality to bring world class geological locations to the classroom.
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In 2017, Norway’s Government Pension Fund Global – also known as the Oil Fund – proposed a complete divestment of oil and gas shares from its massive portfolio. Last week, the Norwegian government partially approved that request, allowing the Fund to exclude 134 upstream companies from the wealth fund. Players like Anadarko Petroleum, Chesapeake Energy, CNOOC, Premier Oil, Soco International and Tullow Oil will now no longer receive any investment from the Fund. That might seem like an inconsequential move, but it isn’t. With over US$1 trillion in assets – the Fund is the largest sovereign wealth fund in the world – it is a major market-shifting move.
Estimates suggest that the government directive will require the Oil Fund to sell some US$7.5 billion in stocks over an undefined period. Shares in the affected companies plunged after the announcement. The reaction is understandable. The Oil Fund holds over 1.3% of all global stocks and shares, including 2.3% of all European stocks. It holds stakes as large as of 2.4% of Royal Dutch Shell and 2.3% of BP, and has long been seen as a major investor and stabilising force in the energy sector.
It is this impression that the Fund is trying to change. Established in 1990 to invest surplus revenues of the booming Norwegian petroleum sector, prudent management has seen its value grow to some US$200,000 per Norwegian citizen today. Its value exceeds all other sovereign wealth funds, including those of China and Singapore. Energy shares – specifically oil and gas firms – have long been a major target for investment due to high returns and bumper dividends. But in 2017, the Fund recommended phasing out oil exploration from its ‘investment universe’. At the time, this was interpreted as yielding to pressure from environmental lobbies, but the Fund has made it clear that the move is for economic reasons.
Put simply, the Fund wants to move away from ‘putting all its eggs in one basket’. Income from Norway’s vast upstream industry – it is the largest producing country in Western Europe – funds the country’s welfare state and pays into the Fund. It has ethical standards – avoiding, for example, investment in tobacco firms – but has concluded that devoting a significant amount of its assets to oil and gas savings presents a double risk. During the good times, when crude prices are high and energy stocks booming, it is a boon. But during a downturn or a crash, it is a major risk. With typical Scandinavian restraint and prudence, the Fund has decided that it is best to minimise that risk by pouring its money into areas that run counter-cyclical to the energy industry.
However, the retreat is just partial. Exempt from the divestment will be oil and gas firms with significant renewable energy divisions – which include supermajors like Shell, BP and Total. This is touted as allowing the Fund to ride the crest of the renewable energy wave, but also manages to neatly fit into the image that Norway wants to project: balancing a major industry with being a responsible environmental steward. It’s the same reason why Equinor – in which the Fund holds a 67% stake – changed its name from Statoil, to project a broader spectrum of business away from oil into emerging energies like wind and solar. Because, as the Fund’s objective states, one day the oil will run out. But its value will carry on for future generations.
The Norway Oil Fund in a Nutshell