Key Points
State-run oil and gas companies cut 15,700 jobs, or 14% of their workforce, in six years even as their revenues nearly doubled, with non-managerial jobs getting hit disproportionately...
The headcount at state-run oil and gas companies dropped to 94,300 at the end of 2022-23 from 110,000 six years earlier, according to oil ministry data..
The exploration and production, marketing and R&D segments shed 20-24% of jobs in six years while the refineries cut only 3%..
The share of managerial jobs in total employment at state oil firms increased by 5 percentage points to 60% from 54.5%..
"Employment is not directly proportional to investments in the oil sector," said another industry executive, adding that as organisations seek efficiency they tend to outsource several jobs...
