Thread regarding Canadian Natural Resources Limited layoffs

I saw on LinkedIn a few people already got cut (end of Feb 2023), when you do a search on CNRL. I think it’s mostly support staff and third party contractors (mainly office staff).

I’m not sure if it includes people out in the field. Should we expects a lot more cuts like a lion or a lamb for spring?

Any updates regarding cuts?
Heard from HR that third party contractors are going to be cut.

Heard that planed office job cuts will be coming by end of February. I’m worried as these are good paying jobs in the oil and gas. I remember when oil prices crashed when my parents had their mortgage.

House prices fell. We have a nutty premier and Pierre P is an id--t. Where do we stand on things. I’m really worried.

Who the heck is Peter Shaw? I’ve read about him on the oil and gas threads here. Please explain.

The problem with getting into nursing or any medical field is the United Conservatives don’t support anything to do with our medical system.

As for accounting, you don’t need as many accountants as things are automated. Yes you do need your AR/AP etc people, but you need less senior people as you can program the various accounting rules for IFRS, US-GAAP, various tax rules. As for analysts as long as things are in order in a database they can still analyze the info.

An MBA does not mean much in real life. Basically it says you can analyze and present a case. Real life experience counts the most.

Oil is at the core of the Alberta economy, we cannot do without it. Have you noticed the united conservative or the ndp never put the environmental concerns ahead of our economy? We are too heavy into oil, gas and natural resources to transition to a knowledge based society. High school drop outs getting over $150-200k per year, where as in other industries people are lucky to get $80k with a university degree and years of experience.

The oil royalties bring in a lot to our economy. We are the only province without a sales tax and are doing well. We most likely will be in the best position to weather the economic downturn as Eastern Europe/Asia (Russian oil) usage will slow down.

I believe jobs related to the oil and gas sector are totally safe for at least 20 years. Remember for every $1 put into the oil and gas sector the benefits are $20. So this is a “win win” situation.

The above poster is correct. As well as the various papers by Peter Shaw on this topic.

If you're in oil you're always at risk of being cut in the inevitable down cycle, especially places like Canada with relatively little light sweet crude. Countries like Russia and Iran stop causing trouble whenever oil bottoms out. Even the once unassailable likes of ExxonMobil, Halliburton, and Saudi Aramco have been cutting during the last several cycles, nevermind fallen giants like BP, Shell, Pemex, and PDVSA.

Maybe you can get an MBA, accounting, nursing, or law degree in the next downturn. Those are pretty popular options.

As for refineries, Canadian heavy sour crude sucks. It's expensive to refine, best used for building roads with asphalt (hence Chinese demand), and no one in the Western Hemisphere but the US Gulf wants to refine it, not even Mexico and Venezuela in their heydays, and Venezuela is all heavy stuff.

If you wanted to build a refinery from scratch, you'd have to spend probably $10 on just the plant, THEN you'd have to have the infrastructure to pipe crude and natural gas to the refinery, build out infrastructure to transport all that oil to the refinery plant, as well as establish a supply chain with inputs from all over the world. Then you have to hire the people, from Houston and the Middle East to build the knowledgebase to run the whole shebang, and none of these people want to live in Canada.

You're looking at an outlay of hundreds of billions just in startup capital, which would breakeven in probably 50 years. It's cheaper to build pipes or container it across the Pacific to send that crude to existing refineries.