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    North Sea Hydrogen Pipelines Have A Huge Potential- Study

    Study States European Natural Gas Rates To Multiply By 2024

    Russian Tax Overhaul Looks To Offset Oil Firms Revenue Dip

    EPA Urged To Keep Methane Emissions From Flares In Check

    Further Russian Oil Output Cuts Expected In Times To Come

    OPEC+ Deal Expected To Last Till The Year End- Saudi Arabia

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    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

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    US Polyethylene Export Market Report 2017-2020

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    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

    Santos receives major approval for oil and gas development offshore Western Australia

    Eni, Repsol press Maduro for more control to increase oil production from Venezuelan oil fields

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

    Equinor Energy

    Transocean secures offshore drilling rig contract from Wintershall and OMV

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    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

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Survey: Nearly One-Third of Oil, Gas Companies Expect Pay Freeze in 2016

Yuvraj_ong by Yuvraj_ong
December 22, 2015
in News, Production, Upstream
0

Almost one-third (31 percent) of oil and gas companies expect to freeze pay for 2016, according to a survey released Dec. 17 by Aon Hewitt. The “2015-2016 Compensation Planning Research Update for the Oil and Gas Industry” surveyed more than 60 oil and gas organizations representing more than 315,000 industry employees across all segments in energy.

The survey found that 44 percent of respondents plan on freezing base pay for executives. Upstream organizations have scaled back on base pay increase levels, with 33 percent of respondents indicating a base pay freeze for 2016.

Additionally, 45 percent of respondents reported a funding estimate plan to be at or above target for variable pay funding, while 39 percent of respondents expect variable pay funding to be below target.

Twenty-two percent of respondents are debating how long-term incentives will be used for 2016.

As far as 2016 salary budget decisions, 30 percent of respondents expect decisions to be finalized in January 2016, 25 percent are not sure when they will be finalized and 22 percent already have theirs finalized.

Thirty-eight percent of respondents have increased communication with executive leadership on cost considerations as an additional measure associated with the salary increase process, while 30 percent indicated an increase in employees who did not receive salary increases. Of the nearly 43 percent of respondents who plan to allocate additional money for field operations, 23.5 percent will allocate funds to the Eagle Ford basin and 23.5 percent will allocate funds to the Gulf of Mexico.

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