{"id":613886,"date":"2024-01-22T00:00:00","date_gmt":"2024-01-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/22\/oil-gas-industry-is-losing-its-appeal-to-gen-z-employees\/"},"modified":"2024-01-22T00:00:00","modified_gmt":"2024-01-22T00:00:00","slug":"oil-gas-industry-is-losing-its-appeal-to-gen-z-employees","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/22\/oil-gas-industry-is-losing-its-appeal-to-gen-z-employees\/","title":{"rendered":"Oil + gas industry is losing its appeal to Gen Z employees"},"content":{"rendered":"

The youths don\u2019t want to work for oil and gas:<\/strong>Undergraduates enrolling in US petroleum engineering courses have fallen to 3.9k in 2023 from over 7k in 2019, increasing industry execs\u2019 concerns about populating the industry\u2019s future workforce, the Financial Times<\/a> says.<\/p>\n

Why isn\u2019t Gen Z interested?<\/strong>It\u2019s a perception problem.<\/strong> Social media has raised environmental literacy dramatically during Gen Z\u2019s lifetime, with a recent poll finding that 62%<\/a>found<\/a> a career in this field to be unappealing. Some 78%<\/a> of the current global population believes that environmental sustainability is important, with the percentage going even higher<\/a> among Gen Z and millennials.<\/p>\n

Oil and gas giants have been trying to rehabilitate their image by throwing money at <\/strong>the problem. <\/strong>In 2022, ExxonMobil<\/a> donated USD 16.4 mn<\/a> to universities worldwide, and Chevron established a job readiness program<\/a> in the US to attract workers. Shell<\/a> and BP<\/a> have since started offering scholarships and apprenticeship programs, and \u2014 controversially \u2014 turned to social media influencers<\/a> to help greenwash<\/a> their products.<\/p>\n

\u2026but execs may have trouble recruiting because of the priority gap.<\/strong> Executives have been banking on the industry\u2019s salary ranges to lure people in when the current generation\u2019s desires lie beyond the paycheck. Alongside a livable wage, Gen Z prioritizes a good work-life balance, job stability, and most importantly \u2014 and most overlooked \u2014 a job that aligns with their principles.<\/p>\n

It\u2019s more complicated than a youth-led backlash against fossil fuels.<\/strong> The industry\u2019s volatile employment practices are to blame, says Martin Blunt, an industry expert at Imperial College London. The industry\u2019s practice of hiring and firing during boom and bust<\/a> periods is a permanent trend that puts off undergrads looking for a stable career.<\/p>\n

Are we in the twilight of the oil and gas industry?<\/strong> Ken Pereira, managing director of Hibiscus Petroleum<\/a>, an oil and gas producer currently exploiting dwindling oil reserves<\/a> in the North Sea, seems to think so. The impact of the aging workforce due to lack of interest by Gen Z will reportedly hit the industry in a decade, he told the Financial Times.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil and gas companies\u2019 hiring numbers have dropped as the upcoming workforce finds the industry under threat of collapse<\/p>\n","protected":false},"author":1,"featured_media":613887,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[633,638,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-613886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-enterprisepm","tag-for-your-commute","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"4957cc62-907c-4122-9b8d-7b15fe897b39","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1824.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[613881],"teaser":"Oil and gas companies\u2019 hiring numbers have dropped as the upcoming workforce finds the industry under threat of collapse","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.6d9a6a77-0a74-467f-96e4-6309af5bead9.mp3"},"yoast_head":"\nOil + gas industry is losing its appeal to Gen Z employees - 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Kamel El Wazir as new Transport Minister led the airwaves last night (watch, runtime: 02:21), (watch, runtime: 04:33) (watch, runtime: 03:08) and (watch, runtime: 06:33). We have more in this morning\u2019s Speed Round, below.The launch of the first oil and gas exploration tender in the Red\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601968,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/14\/canadas-giant-oil-tools-to-provide-services-for-egyptian-oil-and-gas-concessions\/","url_meta":{"origin":613886,"position":2},"title":"Canada\u2019s Giant Oil Tools to provide services for Egyptian oil and gas concessions","author":"enterpriseam admin","date":"14 March 2019","format":false,"excerpt":"Canada\u2019s Giant Oil Tools has won 10 contracts in a tender to provide petroleum services and well-drilling equipment for Egyptian oil and gas concessions, company sources said, according to Amwal Al Ghad. 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