What does an MBA in Petroleum Management Entail?
A Master’s in Business Administration can be obtained in various streamlined courses like human resources, hospitality, oil and gas management, etc. It is a post-graduate degree that typically spans across 12 months over which principles of management will be taught, and students will be trained in applying the principles by working with professionals in the industry. The assessment is done on the basis of the projects, assignments and dissertation. Each MBA generally has common modules relating to the management of resources and study of strategies, business economics and competition, however, depending on the particular stream, there would be modules that are specific to the stream. An MBA in Petroleum Management would thus entail, in addition to general management modules, specific modules on petroleum management and governance.
The scope of employment in Petroleum Management
The growing consumption of petroleum has led to an increase in the number of jobs in this sphere. Petroleum companies recruit people with an MBA in petroleum for various positions. As a petroleum manager, some of the positions one could hold in a company include that of Petroleum Equipment and Project Manager, Project Control Analyst, Manager of Investor Relations, Marketing Material Support Specialist, etc. This is because a recruit with an MBA in petroleum would be familiar with the operations of the oil and gas fields, operations of the plants, maintenance of the pipelines and related construction.
Role of a petroleum manager
A petroleum manager is responsible for building a structure for the development of gas plants and for making them operational. The strategies developed should be such that they can be applied across the entire organization, and the petroleum manager must ensure the implementation and performance of the same. Petroleum managers are also responsible for contract management and the development of new units. Senior petroleum managers are responsible for assisting in the training of new recruits. Some of the key skills sought for by recruiters include operational knowledge, ability to manage a multi-functioning team, strong negotiating skills, contract management and exceptional communication skills. An MBA in petroleum will best equip one for this role.
Advantages of an MBA
One can enroll in a program for MBA in Petroleum Management after a basic undergraduate degree in Science or Commerce/Business. An MBA increases one’s employability. Owing to the specific nature of the field, recruits must be specifically trained and have an in-depth knowledge of the operations and functioning of oil and gas plants and the degree would but be a steppingstone. Furthermore, it will ensure a speedy climb from an operational role to a managerial role. Being equipped with such a degree will help one secure raises, bonuses and better positions.