Good Training program. Well established and structured mentoring for entry level engineers. Good benefits. People are willing to help, discuss, agree and disagree. Broad spectrum to technology to work in.
Cons
Promotions are slow and a very tedious process, fraught with bureaucracy. Middle management have extremely unrealistic deadlines resulting in a lot of dissatisfaction and frustration. When market is bad, the company goes on an aggressive layoff cycle.
Great place to be an engineer, technical career ladder allows for advancement without taking on a management role. Great culture, good people. Well known and respected brand name that carries a lot of weight in the industry. As a friend from Exxon put it, when something goes wrong, your best defense is to be able to say "but we even used Schlumberger".
Cons
Limited opportunities in management for any disciplines other than EE or Mechanical engineering. Field experience is also generally necessary for advancement. Fixed-step advancement program for university hires can be a pain.