In addition, many top oil companies around the world have announced personnel adjustment plans. It is hoped that employees in the enterprise will voluntarily apply for resignation, give these employees some subsidies and improve the business conditions of the enterprise. COVID-19 has brought a serious impact on enterprises, leading to the global oil price downturn. Oil business has been greatly reduced, many large oil companies have filed for bankruptcy, and many employees have been forced to lose their jobs. The government has also given some funds to subsidize these enterprises, which can only solve the urgent needs and the future development is still worrying.
According to the International Energy Agency, the global oil volume will continue to weaken, and it will take at least one year for the oil demand to return to the pre-epidemic level. If the epidemic has not been controlled, the recovery time will continue to be extended. At present, the downturn of oil companies will last for a long time. As a big oil company, the company not only has many employees, but also has huge fixed costs. If there is no reasonable plan to reduce costs, the company's capital chain will definitely be in crisis.
Developing new energy may be the direction of oil companies' layout. The downturn of traditional oil has made many companies realize that new energy is the main energy in the future, which is not only cheap but also clean. The difficulty of oil exploitation is gradually increasing, and the original mining is also rising. Many large oil companies have indicated that they will allocate some funds for the layout of new energy sources to ensure the development of enterprises.