Third of oil, gas workers faced pay cut in 2020 due to Covid-19: Survey
LONDON (Reuters) – Almost one in three workers in the oil and gas industry faced pay cuts in 2020, a worldwide survey showed on Tuesday, as the coronavirus crisis drove down fuel demand and prices.
Oil and gas workers are still among the highest paid in the world, but a majority of those questioned said they felt less secure about their jobs than a year ago, as the shift to low-carbon energy sources pushed down investment in their industry.
Salaries in the sector are closely tied to oil prices, which plummeted last year as lockdowns slashed demand for fuel.
About 30% of professionals saw a fall in pay last year and one in four said their salaries and day rates fell by more than 5%, according to a report by staffing firm Airswift’s Global Energy Talent Index (GETI).
