Most oil firms plan same or bigger bonuses this year despite oil price plunge


PETRONAS expects a 30% cost cut from suppliers with the same amount of goods, blood and payback, yet multinationals are still shelling out bonuses. Oi, boss, where’s my bonus?

Dateline 2015-07-06, The Star:

Notwithstanding the plunge in oil prices last year, nearly all global oil and gas (O&G) companies expect to pay about the same, if not larger, bonuses this year.
According to a global survey by professional services company Towers Watson, 90% of the O&G firms planned the same bonus payout as the previous year, if not more.
How about Malaysia? Well, all companies surveyed here will be paying out bonuses, with more than half planning to pay higher bonuses compared to the year before.
In Asia-Pacific, 66% of O&G firms are expecting to pay larger bonuses than last year – higher than in Latin America (60%), EMEA (Europe, Middle East and Africa) (50%), and North America (about 30%).

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