Going through this hard time of oil plummet. I believe it is interesting to record and thin slice things happening around the country or world.
After budget cuts and right-sizing strategy across the industry, I have received this email screenshot related to the loans and financing application for employees of oil and gas industry.
In my recent chart analysis that indicates the down trend of the commodity seems to be made worse when information like this being shared.
It seems like financial institutions will now further tighten the process and deal with things on case to case basis when they want to lend their “borrowed” money.
For now, the employees of OGA companies are (I can say) officially at the bottom of the food chain. Struggling to even survive as if the job security problem is solved yesterday.
Darkest hour? Or we are at the bottom of the abyss yet?
Stay strong. Perhaps this is the time to have hope even when there is none spared.
For every downturn, there must be something in store for all of us.
I am trying to be optimist indeed. And more importantly grateful if I am comparing myself to the people that were badly affected.
When I asked fellow colleagues what happened during 97 and 98 financual crisis, there was no increment. Let alone bonus. Maybe, we should think that having a job now is considered a bonus.