Uncovering the 360° Benefit to Oil & Gas Training


Training is an essential component to any company’s safety plan, but it is especially important in a high-risk industry, such as oil and gas. According to the Bureau of Labor Statistics’ 2013 Census of Fatal Occupational Injuries Summary, the fatality rate for workers in the oil and gas industry is six times more than all other jobs, reinforcing the need for effective training and educational programs for frontline workers. While it is imperative that the entire company hierarchy has an appropriate understanding of potential hazards and how to safely utilize onsite equipment, it’s when a training program is used as a tool for company growth and a method to prevent loss of life that it truly displays a 360 degree benefit.
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State of the Industry – Jobs


There are still no clear answers how the market will play out for 2015 for both field service and professionals in engineering and geoscience, but some expected reactions are coming exactly as expected. The overall decline for field service workers has declined nearly 45% over the last three months and needs for engineering, geoscience and technical professionals for service and operating companies as declined over 38% in that same period of time.
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No Conspiracy When it Comes to Saudi Arabia Oil Price Plummets


 
Since last summer, oil prices have plummeted some 50 percent, sparking conspiracy theories and misguided rhetoric to explain the reason behind the drop. But many of these theories are ridiculous and unrealistic, and by encouraging them, we are creating unnecessary tension and bad press.
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What’s Ahead? Future Health Challenges Facing the Oil and Gas Industry


Every day the oil and gas industry faces a multitude of global health care challenges, ranging from the exotic (i.e. African sleep disorder) to the mundane (i.e. heart attacks). Oftentimes the industry operates in remote areas, and the nearest hospital may be a two-hour plane ride away. Therefore, to ensure employees and their families receive the medical care they need, many oil and gas companies have built clinics and emergency stabilization facilities, and in some cases, full hospitals onsite.
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Cheap Energy – Good for the Consumer, Bad for the Industry


Although consumers might be gung-ho to pay cheaper prices at the gas pump, the plunge in oil prices for oil and gas companies is far from exciting. With prices down by 50% from their height in 2014, these fluctuating oil prices will cause major shifts in mergers and acquisitions, as well as push oil companies to embrace innovations. More specifically, companies are going to look towards the real-time data collected from Internet of Things (IoT) to optimize processes and create efficiencies.
 
So, How Did We Get Here?
By the law of supply and demand, it was inevitable that oil and gas prices would drop. With Saudi Arabia as a driving force within OPEC, their push to continue oil production despite the falling prices led to a continuing oversupply of oil. As the Saudis strived to maintain their market share, they signaled they had no intent to cut back on oil production, even though the decreased supply would raise the prices. They feared that had they done so, they would lose market share to other oil producers, depreciating the Saudi influence within the market.
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