In today’s world, specialisation is the key in order to be successful in the industry. Amidst many cutting-edge specialisations, students might get confused as to which one will help them in career growth and development. All the specialisations like human resources management, business analytics, big data, digital marketing, financial services etc promise great career opportunities. Among all these MBA branches, one specialisation that will never go out of demand is oil and gas management.
The indispensable need of renewable sources, the oil and gas industry has played an important role in the economic development of the country. It goes without saying that, oil and gas are one of the core fields of the economy. India’s economy is highly dependent on the energy chain, which in turn is intensified with the upsurge of energy demand. The increasing demand for energy requirements leads to a higher consumption rate of crude oil and gas. This also invites numerous challenges in refining oil capacity.
According to the data collected by the Petroleum Planning and Analysis Cell (PPAC) India, the consumption of petroleum products has increased from 12.9 MT (million tons) in 2014 to 15.2 MT in 2015. Ever-expanding and innovative, the sector constantly works towards revolutionizing themselves, look for fuel-efficient methods and more renewable sources of power. The oil and gas industry also requires professional and efficient managers. This specialisation focuses on the amalgamation of disciplines like human resources, marketing, operations, management skills, critical thinking, project management, judicious management of fuels, technical expertise, and finance, in oil and refinery companies. This opens doors to various exciting fields like power, oil marketing, power transmission, energy sector consulting services, infrastructure, finance and accounts, power distribution and generation.
MBA in Oil and Gas sector is one of the most sought-after courses and a stable field, not just in India but across the globe. This sector indirectly supports other areas of the economy. Therefore, the demand for this sector will surely increase in the coming years. All the more beneficial, individuals pursuing this specialisation can work with various organizations in the same sector. However, choosing an esteemed university to pursue MBA in oil and gas management will make a lot of difference. Universities like University of Petroleum & Energy Studies (UPES) in Dehradun are known for their MBA in oil and gas programs.