A review of Second Quarter 2021 upstream, midstream, and downstream employment trends reflect growing demand for oil and natural gas, the Texas Independent Producers and Royalty Owners Association (TIPRO) reported Tuesday.
There were 73,687 total job postings for the Texas oil and natural gas industry in the second quarter of 2021, 12,224 of which were unique, TIPRO noted in a written statement emailed to Rigzone. The trade association pointed out that 42% of those unique job listings were in just three cities: Houston (3,455 listings), Midland (993), and Odessa (663). Moreover, it stated the top three companies ranked by unique Q2 job postings include:
- Delek US Holdings, Inc. (NYSE: DK): 1,150 postings
- Baker Hughes Co. (NYSE: BKR): 740
- Halliburton Co. (NYSE: HAL): 700.
TIPRO, which categorizes Texas’ oil and gas industry across 14 specific sectors, also revealed the Petroleum Refineries grouping claimed the highest number of unique job postings – 2,364 – in the second quarter of this year. The Crude Petroleum Extraction classification was a close second at 2,358 postings, and Oil and Gas Field Machinery and Equipment Manufacturing rounded out the top three 1,604, TIPRO added.
The most sought-after qualification among Texas’ Q2 unique job listings was Commercial Driver’s License (CDL), with 884 postings, TIPRO continued. The next-highest qualifications during the period were Master of Business Administration (MBA) (222) and Transportation Worker Identification Credential (TWIC) Card (207), the associated noted.
TIPRO President Ed Longanecker pointed out the recent OPEC+ decision to increase output, along with predictions the COVID-19 Delta variant could curb global oil demand by 1 million barrels per day, have affected the upward trajectory in oil prices – and could influence short-term hiring trends. However, he opined that market fundamentals will eventually bolster commodity prices.
“We may see a temporary slowdown in our recovery due to concerns over COVID-19 Delta variant, including some travel restrictions, but we still face a supply deficit,” Longanecker concluded. “The market can also absorb the additional 400,000-barrel output from OPEC and its allies, which domestic producers remain disciplined in their production goals. We may not see $100 oil anytime soon, but I remain bullish in the long-term.”
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