Oil companies cut 15,700 jobs, this is how they doubled profits
Even though the country’s government oil and gas companies have doubled their revenue in 6 years, they have reduced their workforce i.e. jobs by 14 percent i.e. 15,700. According to Petroleum Ministry data, the number of employees in government oil and gas companies was 1,10,000 six years ago, which has currently reduced to 94,300 at the end of 2022-23. In the last few years, jobs in production, marketing and R&D sectors have decreased by 20-24 percent, while in refineries there has been a reduction of only 3 percent. Employment in pipeline business increased by 7 percent. Let us also tell you what kind of figures are being seen at present.
How many jobs in which section?
While executive or managerial jobs declined by 6 percent, non-managerial jobs, including supervisors, clerks and workers, declined by 25 percent. Managerial jobs in the exploration and production sector saw a 27 percent decline. There has been an increase of 15 percent in managerial jobs in refineries. Managerial jobs in the R&D section have decreased by 16 percent. The share of managerial jobs in total employment in government oil companies increased by 5 percentage points from 54.5% to 60%. The share of managerial jobs has increased in the refining (8 percent), R&D (3 percent) and marketing (16 percent) sectors. There has been a decline of 5 percent in the jobs of this post in the production sector.
How much will it cost in 6 years
Government oil companies have spent Rs 6,80,000 crore in six financial years till financial year 2022-23. According to people associated with the industry, investment in the oil sector does not create jobs accordingly. He believes that the company needs people with skills. That’s why they outsource people in many jobs. In March 2023, there were 28,000 employees in Indian Oil Corporation, 24,000 workforce in ONGC. The share of officers or managers in the total jobs was 58 percent in Indian Oil and 60 percent in ONGC.
how much profit was made
If we talk about the profit of the three oil companies of the country, it is more than Rs 82 thousand crores. Which is a record. This is the situation when the profit of all three companies has decreased by 50 percent in the fourth quarter. Before that, the profit of companies was seen to be more than Rs 69 thousand crore in three quarters.
