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The Economic Situation Of The Oil & Gas Industry

The oil and gas industry, including exploration and production, consists of about 7,000 companies who pull in a combined, estimated revenue of around 450 billon. However, the production and associated revenue are fragmented; around 10% of companies generate approximately 60% of this figure. Demand for oil and gas is caused by economic activity, population growth and the need for energy for residential, industrial and transportation uses. The growth of an individual company is determined by the success rate of new finds, as well as the ability to continue to produce from existing sites.

Larger companies have the upper hand, having greater access to capital and the capacity to buy smaller companies or propagate amalgamations. Smaller companies rely on their abilities to focus on and develop expertise in a few geographical areas. In addition, oil and gas competes with other fuel-types, such as coal, nuclear power and hydro-electricity. In addition, other sources of energy are emerging, such as ethanol and bio-diesel and there are other forms of application arriving on the market, such as the new generation of hybrid-electric car.

Oil and gas are found in huge, underground basins that meet certain geological criteria. As well as creating three-dimensional maps of underground structures and using seismic waves to ascertain a site’s potential, exploratory drilling is still a major factor in finding oil and gas. Last year, the number of exploratory drillings that took place exceeded 53,500. Once an area has been designated as having promise, the area is cleared and a drilling rig and crew are brought in to begin the process of extracting the resources that have been found.

Oil and gas jobs generally fall in to one of two categories: upstream and downstream. Upstream jobs are found in the process of obtaining oil and gas from natural resources: drilling jobs are upstream jobs. Other jobs are likely to include those in construction and those involved in production facilities. Not all upstream jobs take place on land; for many, part of the attraction of this industry is its variety. Gas and oil fields are also developed below sea level, such as in the North Sea and the sub-sea sites recently discovered in West Africa. These require specialists to find and extract the resources available.

Downstream jobs involve the transportation of oil and gas in their basic forms, the liquefaction of those substances and their processing. While upstream jobs tend to be comparatively more transitory, being based on exploration and ultimate extraction, it is in the downstream category that gas and oil careers are made; while oil rig jobs, for example, will only last as long as the resource is there, marketing jobs can become life-long opportunities as the team packages the combined products across the globe.

The oil and gas industries are two of the world’s biggest and most profitable enterprises. They employ huge numbers of staff that work in an incredible range of department, from those on the ‘front-line’ to those who design advertising campaigns to those who put it in our vehicles.

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How To Avoid Oil And Gas Job Scams

Overseas oil and gas jobs increase daily and continue to spark the interests of the thousands of job seekers currently looking for employment. When there is so much interest in a new line of work, job scams are undoubtedly soon to follow. Some general information to keep in mind when you encounter a possible job scam is to remember that legitimate employers do not usually need your bank account numbers, ask you to sign contracts before you get all of the facts, and they certainly do not need money up front to get you started.

Most of you already know what a job scam is, but for those who don’t, here is an explanation. A job scam is a form of fraud where certain persons or scammers pose as recruiters or as employers in the oil and gas industry to offer really attractive employment opportunities. Subsequently you, the jobseeker, is required to pay them money in advance, usually under the guise of work visas, air travel expenses, and out-of-pocket expenses. Usually, this particular type of job scam form is called Advance Fee Fraud or 419 Fraud.

According to the Better Business Bureau and the Federal Trade Commission, you can protect yourself against overseas employment scams by using common sense, and by following a few basic rules.

1. You should ask for references.
2. Check them out in the state the recruiters list as an address.
3. Get everything in writing.
4. Forget about companies or oil and gas job recruiters with no legitimate street address.
5. Be very skeptical of overseas oil and gas employment opportunities that sound “too good to be true.”
6. Never send cash in the mail, and be extremely cautious with firms that require a money order. This could indicate that the firm is attempting to avoid a traceable record of its transactions.
7. Do not be fooled by official-sounding names. Many scam artists operate under names that sound like those of long-standing, reputable firms.
8. Avoid working with firms that require payment in advance.
9. Do not give your credit card or bank account number to telephone solicitors.
10. Read the contract very carefully. Have an attorney look over any documents you are asked to sign.
11. Beware of an agency or recruiter that is unwilling to give you a written contract.
12. Do not hesitate to ask questions. You have a right to know what services to expect and the costs involved.
13. Do not make a hasty decision. Instead, take time to weigh all the pros and cons of the situation. Be wary of demands that “you must act now.”
14. Keep a copy of all agreements you sign, as well as copies of checks you forward to the company.
15. Watch for overly descriptive ‘fraud’ giveaways in job listings. The list includes “package-forwarding,” “money transfers,” “wiring funds,” “eBay,” and “PayPal.” World Privacy Forum researchers also found that the terms “Foreign Agent Agreement” often appears in contracts and emails sent to job seekers.

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