MBA in Oil and Gas Management: Prospects & Career Options
Oil and gas industry of India has played a prominent role in economic development. As a talented graduate you should be aware about the contribution of this sector in order to make an informed decision. MBA in Oil and Gas Management is one of the best courses that can be taken up by a student, especially if he/she has a background in this field of knowledge.
In the quest of reaching higher grounds of economic development, oil and gas industry of India has played a prominent role.
The country’s economy is eminently dependent on the energy chain, which in turn is intensified with the upsurge of energy demand. These ever-increasing energy requirements have led to a higher consumption rate of crude oil and gas, inviting dynamic challenges in refining oil capacity.
With these challenges, emerges the increase in employment opportunities in this evolving sector.
As pointed out by Lorenzo Simonelli, the president and CEO of GE’s oil and gas business
And that is the only point of writing the above story here, to show you the relevancy of this industry.
Now coming to MBA in oil and gas management, the sole purpose of this article is to answer all the spurring questions in your head related to this fan-tastic course.
In this comprehensive article, you would get to explore various dimensions of MBA in Oil and Gas Management course. The article would deal with all your lingering doubts and apprehensions in details pertaining to these topics:
- An Introduction to Oil and Gas Management,
- Eligibility criteria for pursuing Oil and Gas Management course
- Rationale for choosing a career in Oil and Gas Management
- Syllabus taught in Oil and Gas Management
- Career Options/Opportunities after Oil and Gas Management
- Pay Packages offered to Oil and Gas Management
- List of Top/Best Colleges to Oil and Gas Management
- List of Top Recruiters that hire Oil and Gas Management
So, what is ‘MBA in Oil and Gas Management’?
This programme provides you with a foundation of management career in the field of oil and gas by imparting you with the knowledge of varied business aspects in this industry.
Apart from the basic skill-sets such as
- personality development,
- numerical and
- analytical abilities
offered by the course, you get to acquire cutting-edge management skills and expertise relevant to the oil and gas sector. It constitutes of:
Why should you pursue ‘MBA in Oil and Gas Management’?
MBA is the most sought-after degree in India due to its offerings of wide-ranging employability options and enriching experiences. On a general note, when you ask Indians about which domain of MBA they want to pursue, their response is varied yet limited. We usually hear, ‘MBA in marketing’, ‘Media’, ‘HR’, ‘IT’ or ‘Finance’. Those are the domains where the herd moves.
So, the answer to why should you opt for MBA in oil and gas management is quite simple:
It is clear that the growth in a sector is directly proportional to the growth of all the stakeholders involved in it. This section, therefore, further elaborates the progression of oil and gas industry.
The evolving sector of oil and gas is one of the 6 core industries in India, and as mentioned before, it highly contributes to the country’s economy.
As projected by IBM (Business Monitor International), between the years 2015 to 2020, the refinement of oil capacity in Asia Pacific will grow by 4.26%. The oil supply and demand chain has been quite intriguing in terms of growth and exploitation. In June 2015, total crude oil imports were valued at US$ 8.7 billion. The imports of oil in the fiscal year 2014 turned out to be more than 80% of India’s total oil demand.
The domestic oil output is also anticipated to grow and the gas production equates to above three-quarters of the country’s total gas utilization.
Figure: Imports and Domestic oil Production in India
Source: Ministry of oil and natural gas, BMI forecasts, TechSci Research (where, mbpd= million barrels per day)
The consumption rate has increased more than 160% since 1995, and the government is in constant search of acquiring private participation in the energy chain. The high utilization is fuelled by low fuel prices, high demand in festivals and high economic growth.
Up until now, 36% of India’s primary energy utilization is fulfilled by oil, which is increasing at a fast pace. The gap between demand and the actual supply of this natural resource has been a cause of concern for the government.
As per the data collected by the Petroleum Planning and Analysis Cell (PPAC) in India, the consumption rate of petroleum products has seen a rise from 12.9 MT (million tonne) in 2014 to 15.2 MT in 2015. This consumption rate is only about to increase.
The need of possessing oil and gas reserves overseas has also attracted various discussions within the Indian government. As per the KPMG report on oil and gas, the consumption of energy utilization of different fuels projected for 2032 has been shown in the below table:
Source: Planning Commission of India, 2006 (retrieved from KPMG report on oil and gas scenario in India)
As it can be seen in the table, the consumption of oil is one of the largest amongst the other fuels and is anticipated to increase further.
- It is anticipated that the undying demand for oil will grow from 119 MTOE to 250 MTOE during the years from 2004 to 2025. The per annum increase will be 3.6%
- During the same span of time, the domestic oil production is expected to grow at 2.5% per annum.
- It contributes to over 15% of the India’s GDP.
- In the coming future, India will be one of the largest consumers of crude oil and together with china. They will be accountable for 35% of the worlds incremental energy demand.
Now, coming back to why MBA? Oil and gas industry doesn’t just offer opportunities; it needs talented people who can change the way things work to place this sector at its highest potential. With insufficient energy generation and lack of supply infrastructure, this field has immense scope for development and expansion.
Eligibility Criteria for MBA in Oil and Gas Management
I wish I could say that all you need to have is “Determination, Time and Brain”! But, that’s not the case. You need to prove your worth before entering into this programme. The eligibility criteria for pursuing MBA in oil and gas management are:
Skill Required for MBA in Oil and Gas Management
Do you possess team leading skills?
Are you blessed with analytical skills?
Do you follow safety rules and measures?
Are you self-driven?
Do you have an ability to simplify complex issues?
Are you industrious?
Do you feel responsible and accountable for your actions?
Do you possess strong subject knowledge?
MBA in Oil and Gas Management Syllabus
This programme offers insight into distinct subjects, out of which the major ones are pointed out below:
Fundamentals of oil and gas business
Business communication and negotiation skills
Petroleum industry accounting
IT applications in petroleum sector
Natural gas business
Economics and management decisions
Human resource management
Operations and material management
Fundamentals of refining
Petroleum financial management
Business policy and strategy
Supply chain and logistics for the petroleum industry
International business management
Financing petroleum sector projects
MBA in Oil and Gas Management: Career Options
Having earned this degree will enhance your subject knowledge and impart you with competencies to apply strategic principles within the oil and gas industry. Personally, one can gain higher levels of self-confidence and individual strengths, which works as assets for landing a perfect job. Isn’t that the ultimate purpose of pursuing educational courses, for getting a good, decent job? And after getting that degree of MBA in oil and gas management, here’s where you can land middle and senior management positions at:
- Public and private sector companies
- National and multinational oil and gas production companies
- Oil and gas exploration companies
- Oil marketing
- Power distribution
- Energy/power infrastructure
- NGO’s working for energy efficiency and renewable energy
- Technical service providers
- Allied companies of petrochemical, dyes etc.
- Business advisory and consulting companies
- Tertiary sectors such as IT and insurance
The oil and gas industry requires management professionals with extensive knowledge about energy management with a mind for comprehending international strategies. Some of the job profiles are:
MBA in Oil and Gas Management Salary
The salary offered by this industry is varied and dependent upon a candidate’s qualification, skills, work experience and job profile. For fresher’s, the starting salary could range from Rs. 15,000 to Rs. 20,000 and extend to Rs. 40,000 to 65,000 with increased experience and enhanced skills. Salaries in oil and gas industry according to the experience:
Top Colleges for MBA in Oil and Gas Management
The top colleges providing this course are listed below. As this field is evolving and quite unique, it offers diverse career prospects but few reputed colleges. Clearing entrance exams of CAT/MAT/SNAP/XAT/CMAT etc. will grant you the prestigious chance to take admission in these colleges/universities.
- University of Petroleum and Energy Studies (UPES), Dehradun
- Pandit Deendayal Petroleum University, Gandhinagar
- School of Petroleum Management- PDPU, Gujarat
- Rajiv Gandhi Institute of Petroleum Technology, Rae Bareli
- NGF College of Engineering and Technology, Delhi
- New Delhi Institute of Management, Delhi
- International Institute of Business Studies (IIBS), Bangalore
- Mangalmay Institute of Management and Technology, Delhi NCR
- International Institute of Information Technology, Pune
- School of Management, Sir Padampat Singhania University, Udaipur
Top recruiters for MBA in Oil and Gas Management
The popular brands in this industry, which are in constant look-out for people with bright ideas with learning attitudes, are listed below:
- Bharat Petroleum
- Oil India Limited
- Indian Oil Corporation
- Essar Oil Limited
- Gas Authority of India
- Hindustan Oil Exploration Company Limited
- IBP Co. Limited
- Hindustan Petroleum Corporation
- Reliance Petroleum Limited
- Bongaigaon Refinery
- Lubricants India
- Kochi Refineries Limited
- India LPG
- Shiv-Vani Universal
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Have a Happy MBA Journey!!