Emerging business challenges are instrumental in creating new specializations in myriad domains. One such field is energy management. As the name goes, this specialization is related to managing energy corporations and its various functions. In an energy starved nation like India, this specialization has immense opportunities, and of late has become one of the most sought after domains with great career prospects in terms of its development and expansion.
The curriculum for most colleges and institutions that teach this specialization consists of an amalgamation of conventional management disciplines like finance, marketing, operations, human resource management and strategic management, along with focused studies on petroleum and energy sectors like refinery technology and economics, natural gas businesses, exploration and non-conventional energy.
Why energy management
Sustainability and efficiency to manage demand side, tariff design and competition to coordinate demand & Supply, quality and reliability on supply side and environmental and sustainability are some of the important factors that are aimed to be addressed with a specialized degree like this.
Career prospects for MBA in energy management
After completion of this specialization, one can find well-paid jobs in power companies, oil marketing, power generation, oil exploring, power transmission, energy/power infrastructure financing/manufacturing or energy sector consulting services, NGOs & other government agencies that work for energy efficiency, renewable energy, bio fuels to name a few.
Colleges offering MBA in Petroleum and Energy Management
Some institutes that offer an MBA in Petroleum and Energy Management, MBA in Oil and Gas Management or MBA in energy management are listed below:
University of Petroleum and Energy Studies (UPES), Dehradun
Management Development Institute (MDI), Gurgaon
Great Lakes Institute of Management, Gurgaon [2 year Post Graduate Program in Management (Energy)]Gas and energy course topics
It’s usually a two-year course and is divided into four semesters. The first semester would include topics like business communication and negotiation skills, economics and management decisions, organizational behaviour, fundamentals of oil and gas business, petroleum industry accounting, fundamentals of petroleum exploration and IT applications in the petroleum sector. In the second semester, the curriculum could include human resource management, marketing management, research methodology and applied statistics, operations and material management, natural gas business, petro economics, fundamentals of refining and petroleum financial management.
In the third semester, subjects might include business policy and strategy, retailing, international business management, econometrics, supply chain and logistics for the petroleum industry, financing petroleum sector projects and project management and contract administration. The fourth semester could include e-enterprises and oil and gas law and policies. A project or dissertation may be required. In addition to these subjects, companies may also provide internships in order to give students plant real-world experience.
Seeing government’s initiative to turn India into a world power hub, pursuing an MBA in energy management would be a wise decision to make. Instead of following the traditional domains of specializations like marketing or human resource, there are ample disciplines which can give your career a boost. In a few years ahead there would be a phenomenal demand in this segment. It is always better to be in a league that is going to transform India into a world power house and given the circumstances, one may think about taking up a career in this domain.
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