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It is well
Total cuts investment and employees to counter weaker oil prices
France’s Total is the latest energy firm to say it is cutting investment and the number of people working for it because of weak oil prices.
The Paris-based company is also speeding up its sale of assets this year.
In its latest quarterly results Total said the price slump and lower demand meant its North American oil sands and shale assets and European refineries are worth $6.5 billion (5.7 billion euros) less than previously calculated.
Two thousand jobs will go worldwide mostly through a hiring freeze.
Chief Executive Patrick Pouyanne said spending less on exploration also reflected a change in strategy.
It will revamp the process after having failed to return any major oil find in recent years.
“We consider that after having spent a lot of money in exploration in the last three years without the results we expected, it was preferable that exploration teams be put under a certain pressure, that they get forced to make choices,” Pouyanne told reporters.
Copyright © 2015 euronews
The above implies that TOTAL will only hire positions that are strategic to the business objectives. In fact the so-call automatic mail of recent is as a result of a major hiring decision they have taken. Who are the fortunate ones remain to be seen.
Thinking d ppl affected by d auto mail info@careers where those who applied last year on Total's website after an advertisment. while d others who got d rejectn mail frm d EP-NG-HR email are those frm 2011 and 2012 recruitment. mostly frm CIA
@gracealways
you have an idea but that's not what happened. You can sent your number to my private mail so I can call you and explain I don't intend to make it public. However, I will like to know which of the email addresses sent the last message.
Coolguy , please kindly inbox me the reason
They will conclude all pending employment this year.
@ Goodluck Amen. do u knw hw soon. d wait is 3 long
Coolguy , please kindly inbox me the reason too.
‘Falling oil price may not affect $3.8bn Egina project’
on February 24, 2015 / in Energy 12:49 am / Comments
By Godwin Oritse
THE current economic impact of global downtrend in the prices of oil that is already taking its toll on key sectors of the Nigerian economy may not have adverse effect on the country’s Egina oil platform project valued at $3.8 billion. The project was awarded by Total E&P Nigeria to Samsung Heavy Industries, with a mandate to integrate a Floating Production Storage and Offloading, FPSO platform at the LADOL base in Lagos, as the local content partner.
Engineers at drilling rig
The Managing Director of the Lagos Deep Offshore Logistics, LADOL base, Dr. Amy Jadesimi, said that although the oil price fall portends worry for the economy, Nigeria’s fledging logistics sector may not be affected. According to her, “There are two sides to this. terms of our business and local content, the falling oil prices actually play in our favour. The premise of LADOL and the lots of new entrants coming into the market is that we are actually creating value.
We are lowering costs and we are making it easier for foreign companies to do business in Nigeria both by lowering their costs and increasing the efficiency of their operations.” She described logistics support bases as small industrial villages with full services offering which significantly lower the cost of activities in the oil and gas sector.
“Obviously we have created jobs. With the project we are doing now, we have created 5000 jobs directly and 50,000 indirectly. Now, the investment in our free zone is up to $450million. Going forward, the investment that would be attracted not just to LADOL but related facilities is in the $10billion range and it comes back to capacity development.”
Jadesimi pointed out that due to oil price fall oil companies will embark on portfolio management. “When they are looking at the West African market, you can’t ignore Nigeria. Now we have a big project coming up for Shell, Bonga South-West that many people have been watching and counting on. They were supposed to spend $40billion in Nigeria over the next decade.”
Referring to recent announcement of project cancellation by the Shell Group, Jadesimi noted that there are fears that the oil conglomerate may extend such project cuts to Nigeria due to the price fall. “Shell is committed to Nigeria, the oil reserves that Shell has in Nigeria make up a significant proportion of the company’s total reserves and now that Shell has divested some of their onshore assets, development of Bonga becomes more important.”
The situation, she said, portends positive trend for local content development in Nigeria because such huge projects are under significant price pressure and cost pressure. “So for those companies to continue to make the decision to go ahead with these projects, we have to continue to lower our costs and increase our efficiency. That is what LADOL is all about and that is what many local content companies are all about.
They are about local people making investments and by us making certain investments in infrastructure, in service provision to enable these oil companies to continue to work in Nigeria.” She however warned against the over-dependence on oil proceeds for the sustenance of the nation’s economy. “What we have to worry about is the future. Our government has made a good point that we have to diversify the economy.
- See more at: http://www.vanguardngr.com/2015/02/f....EtofpVtv.dpuf
hmmmmm. its well
Inormation reaching me now is that 80% of contract staff have been sack and the rest staff have embark on strike
Very true.....strike been on for over a week; abuja office to be shut down....cost slashing!Quote:
Originally Posted by Goodluck82
Heard Total has suspended all recruitment, pls lets confirm this statement. God will torch their heart.
It's confirmed, people.....Lets hope for the best....Quote:
Originally Posted by Goodluck82
They can still revisit the recruitment later in the year. Lets hope for the best
This is certainly due to the fact that the budget was not approved. But we all know that oil price will bounce up again.Hence, to me ,this has little relevance. Recruitment for 2011 and 2012 candidates has already being concluded.Quote:
Originally Posted by Goodluck82
But some of us havent been contacted for medical, why did you now say it has been concluded?.Quote:
Originally Posted by coolguy
FPI and medicals for 2011 and 2012 was done between Sept. to Dec. 2014. You should understand calling you for medicals makes no difference since TEPNG hardly sent rejection mails that's the problem. The only way to know for sure is to ask from recruitment.Quote:
Originally Posted by Goodluck82
NIGERIA: TOTAL COMPLETES $1 BILLION OF ONSHORE DIVESTMENTS
March 30, 2015
Paris - Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern E&P, a Nigerian company, for $569 million. Together with the recently completed divestments of OML 24 and OML 18, Total’s share of sale proceeds from these three onshore Nigerian blocks amounts to over $1 billion.
“The sale of these non-operated onshore blocks in Nigeria is yet another example of our strategy of dynamic portfolio management, achieved at attractive valuations,” said Patrick de La Chevardière, Chief Financial Officer at Total. “These transactions also reduce our exposure to non-operated blocks onshore Nigeria, and allow us to focus on our core, operated developments, such as the Egina project.”
Total holds a 10% stake in several onshore blocks in Nigeria via the Shell Petroleum Development Company (SPDC) Joint Venture alongside the Nigerian National Petroleum Corporation (55%), SPDC (30%, operator) and Nigerian Agip Oil Company Limited (5%). Since 2010, Total has divested its interests in eleven onshore blocks to Nigerian companies, in line with the Federal Government of Nigeria’s aim of developing Nigerian companies in the sector.
http://www.total.com/en/media/news/p...re-divestments
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Also advertise your house there.
Still hopeful, total will call us soon
@ Goodluck82.........AMEN!
Has anyone got any updates from TOTAL?
I think they will contact us soon#hopealive
i beliv as well. nothng God cannot do. he will see us tru
TOTAL will soon resume their pending recruitment.
@ gudluck82, is it a confirmed info?.....believing God for d best!
http://www.wtsenergy.com/Vacancy-det...-Engineer.html
And Total has done it again!!!!
Does this imply that Total has resumed recruitment now.
By god's grace the recruitment process will resume shortly.
I confirmed that the advert i posted did not originate from TEPNG and they are even aware of its circulation....Quote:
Originally Posted by Adele123
Please excuse me....
kk thanks for d feedback
Hey Devonian,
I was contacted for this position by various recruitment agencies, home and abroad..... so im kinda worried when you say the advert did not originate from TEPNG. Pls expatiate more on this. Thanks
Quote:
Originally Posted by Devonian
Firstly, my post here is a direct relay of my "unofficial" email exchange with a senior personnel directly involved with the relevant units. The feedback stated clearly that they are aware of the adverts in circulation while they are not seeking to initiate any new process.Quote:
Originally Posted by brainzemy
Secondly, this position was filled recently by one of the candidates who completed the FPI late last year.
I would be surprised that tepng needs another NOA RE for SPDC assets but then again, anything is possible.
Blessings!
Okay, thanks for the clarification Devonian..I can only hope and keep my fingers crossed.
Quote:
Originally Posted by Devonian
Just confirmed from a reliable source that there is still embargo on full time employment
Total kept mute. We will overcome.
French oil firm Total will see out the completion of two major projects in Nigeria this year that will add 60,000 b/d of oil output to its portfolio despite the fall in oil prices, the CEO of Total's Nigerian producing unit, Elizabeth Proust, said Wednesday.
"For Total, we are revisiting our projects because low oil prices means less capital expenditure, less operating expenditure. But I can tell you that in Nigeria we will complete two major projects as planned for in 2015," Proust told Platts on the sidelines of an industry conference in Abuja.
"The projects are the upgrade of our OML 58 and Ofon phase two. They will add around 60,000 b/d to our oil production," Proust said.
The two projects are among the $20 billion investment plans in Nigeria announced by Total in 2010.
Article continues below...
She said the third major project, the development of the Egina deepwater field located in OML 130, was also progressing and remained on track.
Oil prices have falling by more than 40% over the last six months, prompting capital spending cuts by oil companies.
dats gud news