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Energy sector jobs have some of the highest projected growth rates according to surveys done by the Bureau of Labor Statistics, and some prospective Master of Business Administration (MBA) students consider an MBA in Oil and Gas Management a best value option for advanced business degrees.
While a traditional MBA degree still looks great on a resume, holders of the distinctive credential still face heavy competition for top jobs as many employers give preference only to graduates from top tier business schools. A primary way that business professionals can distinguish themselves from the rest of the MBAs without attending a top tier school is by selecting a graduate school program that offers concentration areas like oil and gas management that reflect their interests and industry demand.
Here are some examples of the unique course topics that students can expect to take when they enroll in oil and gas management MBA programs versus traditional MBA programs.
Energy Policy and the Environment
Although oil and gas production provides participating countries with lucrative financial yields, most of the world’s governments demand more environmental accountability from companies that operate within the oil and gas sector. Since many opportunities in the sector are found in international markets, managers in this challenging career field must be aware of the energy policies that are in place for the primary oil and gas markets like those in the Middle East and Africa. Oil and gas MBA students areexposed to the current energy policies and environmental regulations that cover these markets as well as the methods used to monitor any regulatory changes that affect companies that operate in the oil and gas sector.
Strategic Operations Management for Oil and Gas
Students within many of the oil and gas MBA programs learn about real world issues that oil and gas companies typically face. One of the key challenges in this field is identifying ways to consistently reduce fixed operating costs. The oil and gas sector involves upstream and downstream activities. Examples of upstream activities are locating areas of oil and gas supplies, environmental and technical production planning, drilling, extraction and refining of products. Downstream activities relate to the distribution and sale of oil and gas products. Some large oil and gas companies handle all of these functions and have found ways to cut costs through integrating operations at the enterprise level. Students in the MBA in Oil and Gas Management degree program learn how this method has produced tremendous cost savings and operational efficiencies for companies that may have many extraction sites, refinery facilities and distribution hubs that are located around the world.
Integrated Emergency Management
The physical and chemical properties of oil and gas make them automatic candidates for risk management initiatives within many emergency management departments. The integrated emergency management course topic allows students to explore how oil and gas companies identify potential hazards, risk mitigation initiatives and appropriate emergency responses. Students also learn about the impacts that oil production hazards have on social and economic structures of developing nations. Most oil and gas MBA programs introduce students to how current leaders within the sector address these issues, and class assignments often encourage students to think critically about alternative solutions.
Conclusion
While the growth of the alternative energy sector is a high priority for most governments around the world, the oil and gas energy sector still requires ethical, competent leaders to keep up with the global demand for these more traditional sources of energy. MBA in Oil and Gas Management degree programs prepare graduates to identify and address challenges within the sector relating to sustainable oil production operations, supply chain logistics and environmental management.
Additional Resource: Top 20 Most Innovative MBA Programs, Ranked by Acceptance Rate
