Monday, September 04, 2006

Oil industry strike in India from 05.09.2007

The officers of Oil and Gas Industry of India is going on an indefinite strike from 0600 Hrs of 5th Sept, 2006. The strike call has been given by OSOA, an umbrella organisation of all Oil Sector PSU Officers Associations The strike call is given for revision of wages. The last pay revision in oil sector has been almost 10 years ago. Given the fact that officers constitutes almost 80% of employee strength in oil sectors, the strike is likely to cripple the industry.
The Oil sector in India is still largely Government controlled. While the upstream is lead by ONGC (Oil and Natural Gas Corporation), the downstream is led by IOC (Indian Oil Corporation), both being Government of India undertakings. Low pay packages as compared to those offered by new private players like British Gas and Shell in this field in India, has seen large exodus of talent from these Government companies. The pay packages offered by these private companies are in the range of 15 lakh onwards for a junior level executives as against about 7 lakh in these Government companies.

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