Oil industry won’t shed jobs in 2010 – execs

U.S. oil and natural gas producers do not plan to shed jobs in 2010, according to a new survey.

Sixty-five percent of the 100 chief financial officers at exploration and production companies surveyed expect employment levels to remain stable at their company, and 27 percent plan to increase hiring, according to the survey by BDO, a financial services and consulting firm.

Just eight percent predicted their company would trim employment. Charles Dewhurst, a partner with BDO, called the findings “somewhat surprising” amid soft energy demand and continued tightness in credit markets.

“Apparently, the industry experienced such steep cuts to price, demand and personnel in 2009, there is really nowhere to go but up,” he said.

Nearly three-fourths of the executives predict increases in oil demand globally and 65 percent predict U.S. increases.