Trading (Crude oil)

Originally Posted by Unregistered

Heavily dependent on too many variables eg firm culture (promote internally or hire external traders), whether your traders like you, whether you can make it, whether there is an opening etc. Though it is easier at the smaller Chinese shops.

That's in general for anyone who wants to make their way into trading. For midcareer, depending on how many more years they can continue to be in trading, guess it may be harder to cross over even if the above mentioned all aligns.. right?

Originally Posted by Unregistered

That's in general for anyone who wants to make their way into trading. For midcareer, depending on how many more years they can continue to be in trading, guess it may be harder to cross over even if the above mentioned all aligns.. right?

Rare to see midcareer professionals cross over, as most would be unwilling to make the lifestyle changes that a commercial role calls for.

Oil trading is in decline. With the current focus on clean energy, governments and even the ordinary citizen are "punishing" oil consumption. Used to be damn prestigious to be working in those big international oil firms such as Shell, ExxonMobil, BP. No longer the case today. Oil demand has plunged due to covid and these firms have all been hit badly, with many even having to retrench. A good part of the annual salary for these firms come from bonuses. I expect the bonus to be paid out this year (for 2020's performance) to be miserable, potentially zero.

Originally Posted by Unregistered

Oil trading is in decline. With the current focus on clean energy, governments and even the ordinary citizen are "punishing" oil consumption. Used to be damn prestigious to be working in those big international oil firms such as Shell, ExxonMobil, BP. No longer the case today. Oil demand has plunged due to covid and these firms have all been hit badly, with many even having to retrench. A good part of the annual salary for these firms come from bonuses. I expect the bonus to be paid out this year (for 2020's performance) to be miserable, potentially zero.

Don't lump Shell and BP together with dinosaur Exxon.

The way BP structures their packages it's not so bad even if you get a 1-2mth bonus payout. Base figures are very competitive already.

Sorry I’m super new to this industry but recently went for an interview with a bunker company.

May I ask if a sales exec role in a bunker supplier firm is the “broker” or “trader” that you guys talked about here? Is it a good career choice as I’m thinking of making a switch to oil & gas. Is there hope in the industry now that countries are rolling out vaccines and air travel bubble?

Thanks in advance for any replies!

This industry so secretive and full of crooks.