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Oil research reduces third-party jobs, promises more old roles for PNG citizens, women, Energy News, ET EnergyWorld

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Oil research reduces third-party jobs, promises older roles for PNG citizens, womenPapua New Guinea-based oil and gas firm said Wednesday it has accessed a third of its workforce amid falling demand, in a volatility that also aims to reserve more senior positions for Papua Guinea’s Re (PNG) citizens and women.

Australia’s oil research list has said it has reduced its full-time workforce to 1,222 – with another 137 moving by the end of the year – from all of its countries as it seeks to ensure its balance in a low crude oil price environment as well as by reducing demand.

He also said it would increase senior leadership roles for PNG citizens: PNG migrants’ positions will be reduced to 7 percent of all jobs, while the percentage of women in the workforce and executive positions will increase to about 28 percent.

The oil and gas producer currently has women occupying four of the 16 board and management positions, according to its website. He did not immediately respond to an email requesting clarification on the representation of PNG citizens in his workforce and senior positions.

The oil survey noted in May that it was considering cutting its oil production in Papua New Guinea from July due to weak global prices. It produced 1.57 million barrels of oil last year in the PNG.

While demand for oil has taken off from the worst weeks of the coronavirus outbreak, a rise in new cases of infection in the United States has revived uncertainty about oil prices and demand.

On Wednesday, the oil and gas producer said it expects production costs to be around $ 10.50 per barrel of equivalent oil (oil) before costing once in 2020, compared to previous guidelines of $ 11-12. boe.

Shares rose 0.6 percent from 0143 GMT, up nearly 1 percent from the ASX 200 standard.



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