The Zacks Industry Rank assigns a rating to each of the 252 X (Expanded) Industries based on their average Zacks Rank. In addition, recent hourly and annual earnings are shown for occupations commonly found in oil and gas extraction. The .gov means it's official. According to predictions, it will reach a total value of $5,870.13 billion worldwide in 2021. There are a number of ways in which companies can use the TRIR - and ways in which a TRIR can be used against them. The service requires full cookie support in order to view this website. The lowest oil and gas accounting salaries begin at an annual $57,500 for entry-level positions, while the most experienced workers can make up to $87,500 per year. Ive bounced around the same thought, Lance! Oil drilling, extraction, and production saw a drop by more than a quarter during these troubling times. The US would face disastrous consequences if the hydraulic fracturing industry were to be shut down. NAICS 23712 - Oil and Gas Pipeline and Related Structures Construction. (National Association of State Energy Officials). make sure you're on a federal government site. The major oil and gas industry risks and disruptions 1. Even if people were paid during non-work time i.e., vacation days, sick leave, or holidaysthis should not count as hours worked. www.ogj.com is using a security service for protection against online attacks. Industries in the Oil and Gas Extraction subsector operate and/or develop oil and gas field properties. The industry is trading close to its 3-year average PS ratio of 1.0x. As a result, many organizations are fudging their numbers and covering things up. 17 Remarkable Oil and Gas Industry Employment Statistics. In 2017, the rate of nonfatal illnesses and injuries among pipeline transportation personnel was 0.0 per 100 workers, versus a rate of 4.6 in the U.S. warehousing and transportation sector. Even OSHA and ASTM has incorporated some of APIs safety practices into their own standards. In the US, the median hourly wage for an oil rig worker is $24. This data suggests that the oil rig industry gives one of the most profitable compensations out there. All industries including private, state and local government(5), Agriculture, forestry, fishing and hunting(5), Greenhouse, nursery, and floriculture production(5), Beef cattle ranching and farming, including feedlots(5), Forest nurseries and gathering of forest products, Support activities for agriculture and forestry, Soil preparation, planting, and cultivating, Postharvest crop activities (except cotton ginning), Mining, quarrying, and oil and gas extraction(6), Bituminous coal and lignite surface mining(9), Nonmetallic mineral mining and quarrying(9), Crushed and broken limestone mining and quarrying(9), Crushed and broken granite mining and quarrying(9), Other crushed and broken stone mining and quarrying(9), Sand, gravel, clay, and ceramic and refractory minerals mining and quarrying(9), Clay and ceramic and refractory minerals mining(9), Other nonmetallic mineral mining and quarrying(9), Potash, soda, and borate mineral mining(9), Other chemical and fertilizer mineral mining(9), Support activities for oil and gas operations, Water and sewer line and related structures construction, Oil and gas pipeline and related structures construction, Power and communication line and related structures construction, Other heavy and civil engineering construction, Foundation, structure, and building exterior contractors, Poured concrete foundation and structure contractors, Structural steel and precast concrete contractors, Other foundation, structure, and building exterior contractors, Electrical contractors and other wiring installation contractors, Plumbing, heating, and air-conditioning contractors, Starch and vegetable fats and oils manufacturing, Sugar and confectionery product manufacturing, Chocolate and confectionery manufacturing, Confectionery manufacturing from purchased chocolate, Fruit and vegetable preserving and specialty food manufacturing, Frozen fruit, juice, and vegetable manufacturing, Fruit and vegetable canning, pickling, and drying, Dairy product (except frozen) manufacturing, Dry, condensed, and evaporated dairy product manufacturing, Ice cream and frozen dessert manufacturing, Seafood product preparation and packaging, Frozen cakes, pies, and other pastries manufacturing, Dry pasta, dough, and flour mixes manufacturing from purchased flour, Roasted nuts and peanut butter manufacturing, Mayonnaise, dressing, and other prepared sauce manufacturing, All other miscellaneous food manufacturing, Beverage and tobacco product manufacturing, Narrow fabric mills and schiffli machine embroidery, Textile and fabric finishing and fabric coating mills, Rope, cordage, twine, tire cord, and tire fabric mills, All other miscellaneous textile product mills, Men's and boys' cut and sew apparel manufacturing, Apparel accessories and other apparel manufacturing, Other leather and allied product manufacturing, All other leather good and allied product manufacturing, Veneer, plywood, and engineered wood product manufacturing, Hardwood veneer and plywood manufacturing, Softwood veneer and plywood manufacturing, Engineered wood member (except truss) manufacturing, Manufactured home (mobile home) manufacturing, Prefabricated wood building manufacturing, All other miscellaneous wood product manufacturing, Corrugated and solid fiber box manufacturing, Paper bag and coated and treated paper manufacturing, Other converted paper product manufacturing, All other converted paper product manufacturing, Commercial printing (except screen and books), Petroleum and coal products manufacturing, Asphalt paving, roofing, and saturated materials manufacturing, Asphalt shingle and coating materials manufacturing, Other petroleum and coal products manufacturing, Petroleum lubricating oil and grease manufacturing, All other petroleum and coal products manufacturing, Other basic inorganic chemical manufacturing, Other basic organic chemical manufacturing, Cyclic crude, intermediate, and gum and wood chemical manufacturing, All other basic organic chemical manufacturing, Resin, synthetic rubber, and artificial and synthetic fibers and filaments manufacturing, Plastics material and resin manufacturing, Artificial and synthetic fibers and filaments manufacturing, Pesticide, fertilizer, and other agricultural chemical manufacturing, Pesticide and other agricultural chemical manufacturing, Pharmaceutical and medicine manufacturing, In-vitro diagnostic substance manufacturing, Biological product (except diagnostic) manufacturing, Paint, coating, and adhesive manufacturing, Soap, cleaning compound, and toilet preparation manufacturing, Polish and other sanitation good manufacturing, Other chemical product and preparation manufacturing, All other chemical product and preparation manufacturing, All other miscellaneous chemical product and preparation manufacturing, Plastics and rubber products manufacturing, Plastics packaging materials and unlaminated film and sheet manufacturing, Plastics packaging film and sheet (including laminated) manufacturing, Unlaminated plastics film and sheet (except packaging) manufacturing, Plastics pipe, pipe fitting, and unlaminated profile shape manufacturing, Unlaminated plastics profile shape manufacturing, Plastics pipe and pipe fitting manufacturing, Laminated plastics plate, sheet (except packaging), and shape manufacturing, Urethane and other foam product (except polystyrene) manufacturing, Rubber and plastics hoses and belting manufacturing, Rubber product manufacturing for mechanical use, Nonmetallic mineral product manufacturing, Clay product and refractory manufacturing, Pottery, ceramics, and plumbing fixture manufacturing, Clay building material and refractories manufacturing, Other pressed and blown glass and glassware manufacturing, Glass product manufacturing made of purchased glass, Cement and concrete product manufacturing, Concrete pipe, brick, and block manufacturing, Other nonmetallic mineral product manufacturing, All other nonmetallic mineral product manufacturing, Cut stone and stone product manufacturing, Ground or treated mineral and earth manufacturing, All other miscellaneous nonmetallic mineral product manufacturing, Iron and steel mills and ferroalloy manufacturing, Steel product manufacturing from purchased steel, Iron and steel pipe and tube manufacturing from purchased steel, Alumina and aluminum production and processing, Alumina refining and primary aluminum production, Secondary smelting and alloying of aluminum, Aluminum sheet, plate, and foil manufacturing, Other aluminum rolling, drawing, and extruding, Nonferrous metal (except aluminum) production and processing, Nonferrous metal (except aluminum) smelting and refining, Copper rolling, drawing, extruding, and alloying, Nonferrous metal (except copper and aluminum) rolling, drawing, extruding, and alloying, Nonferrous metal (except copper and aluminum) rolling, drawing, and extruding, Secondary smelting, refining, and alloying of nonferrous metal (except copper and aluminum), Other nonferrous metal foundries (except die-casting), Metal crown, closure, and other metal stamping (except automotive), Architectural and structural metals manufacturing, Plate work and fabricated structural product manufacturing, Prefabricated metal building and component manufacturing, Fabricated structural metal manufacturing, Ornamental and architectural metal products manufacturing, Ornamental and architectural metal work manufacturing, Boiler, tank, and shipping container manufacturing, Power boiler and heat exchanger manufacturing, Metal can, box, and other metal container (light gauge) manufacturing, Other fabricated wire product manufacturing, Machine shops; turned product; and screw, nut, and bolt manufacturing, Turned product and screw, nut, and bolt manufacturing, Bolt, nut, screw, rivet, and washer manufacturing, Coating, engraving, heat treating, and allied activities, Metal coating, engraving (except jewelry and silverware), and allied services to manufacturers, Electroplating, plating, polishing, anodizing, and coloring, Other fabricated metal product manufacturing, Fluid power valve and hose fitting manufacturing, Plumbing fixture fitting and trim manufacturing, Other metal valve and pipe fitting manufacturing, All other fabricated metal product manufacturing, Ammunition (except small arms) manufacturing, Fabricated pipe and pipe fitting manufacturing, All other miscellaneous fabricated metal product manufacturing, Agriculture, construction, and mining machinery manufacturing, Farm machinery and equipment manufacturing, Lawn and garden tractor and home lawn and garden equipment manufacturing, Mining and oil and gas field machinery manufacturing, Mining machinery and equipment manufacturing, Oil and gas field machinery and equipment manufacturing, Sawmill, woodworking, and paper machinery manufacturing, Commercial and service industry machinery manufacturing, Optical instrument and lens manufacturing, Other commercial and service industry machinery manufacturing, Ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing, Industrial and commercial fan and blower and air purification equipment manufacturing, Heating equipment (except warm air furnaces) manufacturing, Air-conditioning and warm air heating equipment and commercial and industrial refrigeration equipment manufacturing, Special die and tool, die set, jig, and fixture manufacturing, Cutting tool and machine tool accessory manufacturing, Engine, turbine, and power transmission equipment manufacturing, Turbine and turbine generator set units manufacturing, Speed changer, industrial high-speed drive, and gear manufacturing, Mechanical power transmission equipment manufacturing, Other general purpose machinery manufacturing, Measuring, dispensing, and other pumping equipment manufacturing, Material handling equipment manufacturing, Conveyor and conveying equipment manufacturing, Industrial truck, tractor, trailer, and stacker machinery manufacturing, All other general purpose machinery manufacturing, Welding and soldering equipment manufacturing, Industrial process furnace and oven manufacturing, Fluid power cylinder and actuator manufacturing, All other miscellaneous general purpose machinery manufacturing, Computer and electronic product manufacturing, Computer and peripheral equipment manufacturing, Computer terminal and other computer peripheral equipment manufacturing, Radio and television broadcasting and wireless communications equipment manufacturing, Other communications equipment manufacturing, Semiconductor and other electronic component manufacturing, Semiconductor and related device manufacturing, Capacitor, resistor, coil, transformer, and other inductor manufacturing, Printed circuit assembly (electronic assembly) manufacturing, Navigational, measuring, electromedical, and control instruments manufacturing, Electromedical and electrotherapeutic apparatus manufacturing, Search, detection, navigation, guidance, aeronautical, and nautical system and instrument manufacturing, Automatic environmental control manufacturing for residential, commercial, and appliance use, Instruments and related products manufacturing for measuring, displaying, and controlling industrial process variables, Totalizing fluid meter and counting device manufacturing, Instrument manufacturing for measuring and testing electricity and electrical signals, Analytical laboratory instrument manufacturing, Other measuring and controlling device manufacturing, Manufacturing and reproducing magnetic and optical media, Electrical equipment, appliance, and component manufacturing, Electric lighting equipment manufacturing, Residential electric lighting fixture manufacturing, Power, distribution, and specialty transformer manufacturing, Switchgear and switchboard apparatus manufacturing, Relay and industrial control manufacturing, Other electrical equipment and component manufacturing, Communication and energy wire and cable manufacturing, Other communication and energy wire manufacturing, Current-carrying wiring device manufacturing, Noncurrent-carrying wiring device manufacturing, All other electrical equipment and component manufacturing, Carbon and graphite product manufacturing, All other miscellaneous electrical equipment and component manufacturing, Automobile and light duty motor vehicle manufacturing, Light truck and utility vehicle manufacturing, Motor vehicle body and trailer manufacturing, Motor vehicle gasoline engine and engine parts manufacturing, Motor vehicle electrical and electronic equipment manufacturing, Motor vehicle steering and suspension components (except spring) manufacturing, Motor vehicle transmission and power train parts manufacturing, Motor vehicle seating and interior trim manufacturing, Aerospace product and parts manufacturing, Aircraft engine and engine parts manufacturing, Other aircraft parts and auxiliary equipment manufacturing, Guided missile and space vehicle manufacturing, Guided missile and space vehicle propulsion unit and propulsion unit parts manufacturing, Other transportation equipment manufacturing, Motorcycle, bicycle, and parts manufacturing, Military armored vehicle, tank, and tank component manufacturing, All other transportation equipment manufacturing, Furniture and related product manufacturing, Household and institutional furniture and kitchen cabinet manufacturing, Wood kitchen cabinet and countertop manufacturing, Household and institutional furniture manufacturing, Upholstered household furniture manufacturing, Nonupholstered wood household furniture manufacturing, Household furniture (except wood and metal) manufacturing, Office furniture (including fixtures) manufacturing, Custom architectural woodwork and millwork manufacturing, Office furniture (except wood) manufacturing, Showcase, partition, shelving, and locker manufacturing, Other furniture related product manufacturing, Medical equipment and supplies manufacturing, Surgical and medical instrument manufacturing, Surgical appliance and supplies manufacturing, Dental equipment and supplies manufacturing, Sporting and athletic goods manufacturing, Office supplies (except paper) manufacturing, Gasket, packing, and sealing device manufacturing, Motor vehicle and motor vehicle parts and supplies merchant wholesalers, Furniture and home furnishing merchant wholesalers, Lumber and other construction materials merchant wholesalers, Professional and commercial equipment and supplies merchant wholesalers, Metal and mineral (except petroleum) merchant wholesalers, Household appliances and electrical and electronic goods merchant wholesalers, Hardware, and plumbing and heating equipment and supplies merchant wholesalers, Machinery, equipment, and supplies merchant wholesalers, Miscellaneous durable goods merchant wholesalers, Sporting and recreational goods and supplies merchant wholesalers, Other miscellaneous durable goods merchant wholesalers, Paper and paper product merchant wholesalers, Drugs and druggists' sundries merchant wholesalers, Apparel, piece goods, and notions merchant wholesalers, Grocery and related product merchant wholesalers, Farm product raw material merchant wholesalers, Chemical and allied products merchant wholesalers, Petroleum and petroleum products merchant wholesalers, Beer, wine, and distilled alcoholic beverage merchant wholesalers, Miscellaneous nondurable goods merchant wholesalers, Motorcycle, boat, and other motor vehicle dealers, Automotive parts, accessories, and tire stores, Building material and garden equipment and supplies dealers, Lawn and garden equipment and supplies stores, Nursery, garden center, and farm supply stores, Supermarkets and other grocery (except convenience) stores, Cosmetics, beauty supplies, and perfume stores, Gasoline stations with convenience stores, Jewelry, luggage, and leather goods stores, Sporting goods, hobby, musical instrument, and book stores, Sporting goods, hobby, and musical instrument stores, Sewing, needlework, and piece goods stores, General merchandise stores, including warehouse clubs and supercenters, Office supplies, stationery, and gift stores, Electronic shopping and mail-order houses, Specialized freight (except used goods) trucking, local, Specialized freight (except used goods) trucking, long-distance, Transit and ground passenger transportation, Other transit and ground passenger transportation, Pipeline transportation of refined petroleum products, Support activities for air transportation, Support activities for rail transportation, Support activities for water transportation, Other support activities for water transportation, Support activities for road transportation, Other support activities for road transportation, Other support activities for transportation, Electric power generation, transmission and distribution, Electric power transmission, control, and distribution, Newspaper, periodical, book, and directory publishers, Motion picture and sound recording industries, Wired and wireless telecommunications carriers, Wireless telecommunications carriers (except satellite), Data processing, hosting, and related services, Credit intermediation and related activities, Other nondepository credit intermediation, Activities related to credit intermediation, Financial transactions processing, reserve, and clearinghouse activities, Securities, commodity contracts, and other financial investments and related activities, All other financial investment activities, Insurance carriers and related activities, Direct life, health, and medical insurance carriers, Direct insurance (except life, health, and medical) carriers, Agencies, brokerages, and other insurance related activities, Lessors of residential buildings and dwellings, Lessors of nonresidential buildings (except miniwarehouses), Offices of real estate agents and brokers, Truck, utility trailer, and RV (recreational vehicle) rental and leasing, Commercial and industrial machinery and equipment rental and leasing, Construction, transportation, mining, and forestry machinery and equipment rental and leasing, Other commercial and industrial machinery and equipment rental and leasing, Lessors of nonfinancial intangible assets (except copyrighted works), Professional, scientific, and technical services, Accounting, tax preparation, bookkeeping, and payroll services, Architectural, engineering, and related services, Surveying and mapping (except geophysical) services, Computer systems design and related services, Management, scientific, and technical consulting services, Other scientific and technical consulting services, Scientific research and development services, Advertising, public relations, and related services, Other professional, scientific, and technical services, Marketing research and public opinion polling, All other professional, scientific, and technical services, Administrative and support and waste management and remediation services, Employment placement agencies and executive search services, Travel arrangement and reservation services, Other travel arrangement and reservation services, Investigation, guard, and armored car services, Other services to buildings and dwellings, Waste management and remediation services, Other nonhazardous waste treatment and disposal, Remediation and other waste management services, Colleges, universities, and professional schools, Business schools and computer and management training, Professional and management development training, Offices of physicians (except mental health specialists), Offices of physicians, mental health specialists, All other ambulatory health care services, Psychiatric and substance abuse hospitals, Specialty (except psychiatric and substance abuse) hospitals, Nursing care facilities (skilled nursing facilities), Residential intellectual and developmental disability, mental health, and substance abuse facilities, Continuing care retirement communities and assisted living facilities for the elderly, Services for the elderly and persons with disabilities, Community food and housing, and emergency and other relief services, Performing arts, spectator sports, and related industries, Promoters of performing arts, sports, and similar events, Agents and managers for artists, athletes, entertainers, and other public figures, Museums, historical sites, and similar institutions, Amusement, gambling, and recreation industries, Other amusement and recreation industries, All other amusement and recreation industries, RV (recreational vehicle) parks and recreational camps, RV (recreational vehicle) parks and campgrounds, Recreational and vacation camps (except campgrounds), Other services (except public administration), Electronic and precision equipment repair and maintenance, Commercial and industrial machinery and equipment (except automotive and electronic) repair and maintenance, Personal and household goods repair and maintenance, Drycleaning and laundry services (except coin-operated), Religious, grantmaking, civic, professional, and similar organizations, Justice, public order, and safety activities, Footnotes Worked on various projects regarding upstream and midstream process development of . Several methods are available to help you compute the number of nonfatal rates of injuries and illnesses. A holistic approach to analyzing contractor safety programs is needed to change this flawed system. (6) Data for Mining (Sector 21 in the North American Industry Classification System United States, 2017) include establishments not governed by the Mine Safety and Health Administration rules and reporting, such as those in Oil and Gas Extraction and related support activities. To view or add a comment, sign in. This publication specifically covers information pertinent to the Oil & Gas industry for the year 2012. 0000068367 00000 n Each industry sector and subsector is placed into the appropriate group: Goods-Producing Industries or Service-Providing Industries. Please enable cookies on your browser and try again. Your TRIR = (1 OSHA recordable incident) x (200,000) 4160 total hours worked (full time employment for two people for a year) Your TRIR for the year would be 48. By 2035, employment in this industry is projected to get to an astonishing 3.5 million people. If your scores are above average, you could see an increase in the number of OSHA inspections and/or penalties. NAICS Code Description 237120 - Oil and Gas Pipeline and Related Structures Construction Top Businesses by Annual Sales for 237120 - Click for Complete Profiles: This industry comprises establishments primarily engaged in the construction of oil and gas lines, mains, refineries, and storage tanks. Source: Bureau of Labor Statistics, U.S. Department of Labor, Survey of Occupational Injuries and Illnesses, in cooperation with participating state agencies. Process Engineer: Oil & Gas industry. You can view the report in full via the API website, but here are a few of the most notable highlights. Oil Price, 17. (5) Excludes farms with fewer than 11 employees. (7) Less than 15 cases Data for mining operators in coal, metal, and nonmetal mining are provided to BLS by the Mine Safety and Health Administration, U.S. Department of Labor. The oil and gas management salary caps change often adjusting to the market, but six figures are a given across all upper management roles. (9) Data for mining operators in this industry are provided to BLS by the Mine Safety and Health Administration, U.S. Department of Labor. The global oil and gas market size is estimated to reach $5,870.13 billion in 2021. 0000011746 00000 n 492 0 obj <> endobj xref 492 52 0000000016 00000 n information you provide is encrypted and transmitted securely. These data are obtained from employer or establishment surveys. The lower your TRIR, the better. However, regardless of what is considered a good TRIR, companies should always strive for zero incidents. In fact, a TRIR of over 7 can quickly increase the likelihood of an inspection. This industry comprises establishments primarily engaged in the construction of oil and gas lines, mains, refineries, and storage tanks. The production from those wells currently accounts for around 51% of the total oil manufacturing in the US. By 2022, nearly 15 million people would lose their jobs if fracking didnt exist anymore. For those non-safety folks reading this, thats pretty darn good when compared to other industries. The oil and gas extraction subsector is part of the mining, quarrying, and oil and gas extraction sector. This is a rough estimate, based on over 400 salaries shared with Talent.com by workers from the industry. Here is how you know. Does your company have fewer incidents, or is your TRIR above average? According to PayScales report, petroleum engineering is actually the most lucrative college major. The world underwent a restrictive lockdown, which enforced social distancing, remote working, and the closure of many businesses. 0000006381 00000 n Join us by subscribing to our Blog and receive updates on whats new in the world of EHS, our software and other related topics. Individual salaries will, of course, vary depending on the job, department, location, as well as the individual skills and education of each . Gazprom is the leading oil and gas company in the world, with 477,600 employees. 2. Non-Fatal Injury and Illness Rate Is Lower for Oil and Gas In 2017, the oil and gas industry rate of non-fatal injuries and illnesses was 1.7 incidents per 100 workers, compared to 2.8 incidents per 100 workers in the private sector. PetroChina comes in second place with 432,000 employees, and Sinopec (China) is third with 384,070 workers. 0000015584 00000 n 0000012987 00000 n Joe Bidens administration proposed introducing a clean-energy plan that would cause the disappearance of all the oil and gas sectors employment, an equivalent of 6.5% of the USs total jobs. The pandemic has slowed down the industry considerably and sped up the move towards healthier energy alternatives. Industries in the Oil and Gas Extraction subsector operate and/or develop oil and gas field properties. Since 2008, natural gas personnel has experienced more incidents than other utilities. Summary of Work-Related Injuries and Illnesses, BLS Survey of Occupational Injuries and Illnesses form, if applicable. You cant do anything about the high number of incidents in your companys past, but you can make meaningful changes moving forward.Knowing What is a good total recordable incident rate? is a must for any safety professional. In fact, hydraulic fracturing generated more than 2.1 million jobs in recent years. You are safer statistically on the rig floor. 70 Annual crude oil production in the state peaked at more . That's where automating oil and gas safety testing and audits come in. Its an industry that sees exponential growth, only slowed down recently due to the COVID-19 outbreak. 0000014657 00000 n Goods-Producing Industries Natural Resources and Mining Agriculture, Forestry, Fishing and Hunting (NAICS 11) Crop Production (NAICS 111) 00000 n each industry sector and subsector is placed into the appropriate:! Contractor safety programs is needed to change this flawed system engaged in the oil and gas market is! Fewer oil and gas trir industry average, or is your TRIR above average, you could see an increase in the US face! 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