An MBA in oil and gas management is about developing your business understanding of the industry that powers our world – the energy industry. Having seen remarkable growth in the modern age, this sector is constantly evolving to meet our needs, advancing in extraction and exploration technologies to now focusing on sustainable practices.
An MBA in oil and gas management is designed for students interested in enhancing their skills in the energy sector. If you’re aspiring to work in one of the seven stars – the common name used to describe the world’s seven largest energy companies – then an MBA in oil and gas management in the UK can help you with your long-term career goals. Let’s explore how to get there in this blog by looking at top UK universities offering the specialisation, entry requirements, and fees and funding for the degree. Let’s get started by understanding what the degree entails.
What’s an MBA in oil and gas management?
Master of Business Administration (MBA) degrees are one-year advanced programmes, providing students with a strong foundation in business management, finance, marketing, and administration. There are two types of MBAs you can follow in the UK: either a general MBA or an MBA specialisation. Both help you learn how to best approach high-level business challenges, but if you want to advance your skillset in a particular subject area, then an MBA specialisation would suit you well.
An MBA in oil and gas management is a specialisation focusing on how key decision-making takes place in the energy industry. During your degree programme, you can develop your fundamental business knowledge of the area and gain valuable insights into practical challenges in the industry. In addition to providing you with this valuable training, pursuing an MBA in oil and gas management in the UK will give you numerous other benefits. Let’s have a look at those now.
Why you should study an MBA in oil and gas management
Many professionals choose to do an MBA as it’s the next step towards advancing their careers. Regardless of the industry you’re in, an MBA can improve your employability and provide you with different perspectives of the business world. An MBA in oil and gas management is a degree that has the potential to set you apart from other MBA holders looking to enter the energy industry as it focuses on the industry’s specific needs. You can also look forward to gaining:
- Specialised industry knowledge – Your MBA in oil and gas management deepens your understanding of the energy industry at all stages of the production process; from exploration and production to refining and distribution. This specialised knowledge, in addition to your business knowledge, can give you a competitive advantage when job hunting and enable you to advance quickly in your career.
- Industry connections – Many UK universities offering oil and gas management MBA programmes have strong links to the oil and gas industry. During your degree, you’ll get the opportunity to attend valuable networking events and gain work experience through placements and internships.
- Global perspective – As an international business hub, the UK is well-positioned to give you a global perspective into both contemporary business challenges and the energy industry. During the degree, you can understand the complexities of international markets, learn about the regulations of the industry, and how the industry is subject to geopolitical changes.
In general, an MBA in oil and gas management gives you the skills, knowledge, and exposure needed to succeed in the competitive energy industry. It’s a valuable asset for individuals aiming to enter the industry or advance in it. Now that you have an understanding of what you can gain from this MBA, let’s look at how your degree is going to be structured in the UK.
What you will study in an MBA in oil and gas management
The curriculum for an MBA in oil and gas management in the UK takes you on a journey through the global energy sector – it’s not limited to textbooks and coursework, as you’re given the opportunity to understand the dynamic nature of the sector. Here’s what your course modules will generally look like for your MBA in oil and gas management:
| Core Modules |
|---|
| Business economics |
| People management |
| Organisational development |
| Oil and gas economics |
| Economics of energy transitions |
| Global sustainability |
| Strategic operations and project management |
| Strategic operations management: Oil and gas |
| Business development, marketing, and sales |
| Petroleum management and governance |
| Energy policy, sustainability, and transitions |
| Strategic management |
| Oil and gas: Leadership and decision making |
| Technology innovation and commercialisation |
| Finance |
| Accounting |
| Optional Modules |
| Oil and gas contract law |
| Sustainability and energy transitions |
Most MBA in oil and gas management degrees also give you the chance to complete an applied project, a business transformation project, a consultancy project, or a business simulation project. This experience in independent study will hone your strategic decision-making skills, helping you successfully transition from your postgraduate degree to your advanced career.
MBAs in oil and gas management are similar to MScs in oil and gas management – another specialisation offered by UK universities. Let’s take a closer look at the differences between the two degrees in the next section, so you can decide the best course for yourself.
MBA in oil and gas management v. MSc in oil and gas management
The UK offers a variety of postgraduate courses in oil and gas management for students passionate about the global energy sector and are looking to upskill in ways that are attractive to potential employers. Among them, an MBA in oil and gas management and MSc in oil and gas management are highly popular postgraduate qualifications that allow you to gain essential knowledge in the field. If you are considering both as options, it’s important to select the course that best aligns with your experience and career goals:
- Your personal and professional goals
If you’d like to focus on a specific subject area in oil and gas management and develop specialised knowledge, then an MSc would be suitable for you. If you’re interested in developing a management- and administration-focused understanding of the energy business and developing your leadership skills, an MBA may be the best qualification for you.
- Your educational and professional background
MBAs are geared towards professionals with industry experience whereas MSc degrees welcome fresh graduates immediately after the completion of their undergraduate degree. If you don’t have a lot of industry experience but are interested in higher studies in oil and gas management, an MSc is your ideal choice.
If either of these two degree options sounds like a fit for your career goals and academic background, you can get started on the application process by shortlisting the UK universities you can study at. Let’s go over potential courses next.
Top UK universities to study oil and gas management
As a global commercial and economic hub, the UK is home to many business schools reputed for their academic excellence and accessibility to valuable professional networks. We’ve listed some of the best UK universities to study oil and gas management in the table below.
| University | Suggested Course | Annual Tuition Fee |
|---|---|---|
| Robert Gordon University Aberdeen | Oil and Gas Management MBA | £20,000 |
| University of Bedfordshire | MBA Oil and Gas Management | £18,000 |
| Coventry University | Oil and Gas Management MSc | £20,050 |
| University of Dundee | International Oil and Gas Management MSc | £21,900 |
| Teesside University | Oil and Gas Management (With Advanced Practice) MSc | £10,000 |
| University of East London | MSc Oil and Gas Management | £15,960 |
If you’re interested in exploring more UK universities offering a variety of MBA specialisations, read here about the top 50 MBAs in the UK. Now let’s understand the entry requirements for an MBA in oil and gas management in the UK.
Entry requirements for an MBA in oil and gas management
Before applying for an MBA in oil and gas management in the UK, you must carefully go through each university’s eligibility criteria to ensure you have all the necessary qualifications, including work experience and English language test scores. You should also demonstrate a passion for the energy sector in your personal statement.
In general, these are the qualifications you need to gain admission into an MBA in oil and gas management in the UK:
| Requirement | Details |
|---|---|
| Undergraduate Degree | Second lower class (2:2) undergraduate honours degree or its equivalent in a relevant subject |
| Work Experience | At least three years of full-time work experience |
| English Language Test Scores | 6.5 overall score for IELTS, with no component lower than 5.5 |
UK universities set their own entry requirements for each course to ensure you have the right skills and knowledge to successfully complete it. Understanding the entry requirements of the courses you’re applying for can increase your chances of securing admission at a top university. After you’ve shortlisted your universities and read through the entry requirements of your preferred oil and gas management courses, it can be helpful to:
- Compile a table of entry requirements for your top five course choices to quickly refer to while filling in your applications
- Speak with your advisors and professors about meeting the educational requirements
- Consider applying to multiple universities which have varying entry requirements so you have safe choices
Another important aspect of your application process to the UK is formulating a funding plan for your studies. UK universities have a variety of tuition fees while your living expenses will vary depending on where your university is located. Let’s explore expenses and scholarship opportunities for MBA in oil and gas management students in the next two sections.
Fees and funding for your MBA in oil and gas management
The expenses associated with your MBA in oil and gas management in the UK are usually classified under three main categories: your pre-arrival expenses, tuition fees, and your living expenses. Your living expenses will vary depending on your location in the UK and your lifestyle while your tuition fees depend on the university you select for your programme. Your pre-arrival costs generally include the visa application fee and healthcare surcharge you have to pay before coming into the UK.
Pre-arrival expenses to the UK
Before arriving in the UK, you’ll need to apply for a UK Student visa which gives you the right to study and live in the UK for the duration of your course. This application requires you to make the following payments:
- £490 for your online visa application fee
- £1,552 healthcare surcharge for a two-year visa (the exact amount depends on the length of your visa)
Tuition fees for an MBA in oil and gas management
In the UK, MBA in oil and gas management programmes have a range of tuition fees, so depending on the funds available, you can select the best-fit one for you. Typically, tuition fees will be between £18,000 (INR 19 lakhs) to £20,000 (INR 21 lakhs).
Cost of living in the UK
Your living expenses in the UK will mainly account for accommodation, food, and travel costs. The average cost of living in the UK per year is around £15,000 (INR 16 lakhs) in London and approximately £12,000 (INR 13 lakhs) in the rest of the country, though this will vary depending on the location. Here’s an overview of the cost of living in the UK:
| Cost | London | Outside of London |
|---|---|---|
| Monthly Rent | INR 80,000 to INR 90,000 | INR 58,000 to INR 69,000 |
| Monthly Public Transport Costs | INR 10,000 | INR 5,000 |
| Monthly Grocery Costs | INR 16,000 | INR 10,000 |
You can get funding support to manage some of these expenses with an MBA scholarship. Let’s look at some scholarships in the UK that you can apply for as an oil and gas management student.
MBA scholarships for Indian students in the UK
Financing the costs of your MBA may be one of your biggest considerations as you plan to study in the UK. The UK has a range of scholarships for postgraduate students to help cover the total or a portion of your study costs. The following table shows scholarships that can significantly reduce the cost of studying in the UK.
| Scholarship | Value |
|---|---|
| Chevening Scholarship | Fully funded, including tuition fees, accommodation costs, and pre-arrival expenses |
| GREAT Scholarship | £10,000 towards your tuition fees |
| Commonwealth Master’s Scholarship | Fully funded, including tuition fees, accommodation costs, and pre-arrival expenses |
To be eligible for an MBA scholarship in the UK, you have to demonstrate outstanding work experience, have an impressive academic record, and often show proof of volunteering and/or community service activities. Once you obtain a scholarship, it can help you focus on your studies without worrying too much about the expenses involved and increase your employability by introducing you to valuable scholarship alumni networks.
Next, let’s have a look at the many lucrative career opportunities in the UK for MBA in oil and gas management graduates, so you can plan your studies according to your interests and career aspirations.
Career prospects for graduates with an MBA in oil and gas management
The energy industry is ever-expanding as it’s a crucial driver of the global economy. An MBA in oil and gas management provides you with insightful training in volatile energy market prices, regulatory norms, and the sector’s unpredictable nature, so you can explore a variety of roles in the industry after graduation.
When deciding on your career after your MBA in oil and gas management, a good starting point is to reflect on your areas of expertise, explore your personal interests, and think about your transferable skills that can add value to any role in the industry. Let’s now have a look at some job roles you can apply for in the oil and gas industry, along with prospective UK employers and average salaries for each.
| Job Role | Prospective Employers | Average Salary per Year |
|---|---|---|
| European Sales Manager | Baker Hughes | INR 1.04 crores |
| Key Account Manager | Oceaneering | INR 70 lakhs |
| Energy Trading Analyst | Ruby Energy | INR 64 lakhs |
Many employers are keen to recruit MBA in oil and gas management graduates as the qualification indicates knowledge and skills applicable specifically in the energy sector. The UK is home to many high-ranking business schools that can help you develop these skills, but sifting through the choices and finetuning your applications can sometimes be challenging. If you’re unsure about where to begin your application process to an MBA in the UK, have a look at our roadmap below.
When applying for your preferred MBA in the UK, it’s essential to stay organised and complete each step of the application process ahead of time. To make the journey smooth and efficient, you can follow this roadmap:
- Make a shortlist of universities
- Complete your application form
- Finalise your personal statement
- Collect and organise your documents for the university applications
- Research and apply for scholarships
- Choose the best university offer
- Apply for the UK Student visa and provide supporting documents with your visa application
- Give your biometrics for your UK Student visa
Our Free UK University Application Service is designed to guide students through each step of this roadmap. Contact us today to learn more about how we can help you gain admission into your dream MBA programme in the UK.
FAQs
What is an MBA in oil and gas management?
An MBA in oil and gas management is a specialisation focusing on how key decision-making takes place in the energy industry. Subjects you study for the degree include petroleum management and energy policy, sustainability, and transitions.
Which MBA specialisation is the best for the oil and gas industry?
An MBA in oil and gas management is most suitable for students interested in joining or advancing in the oil and gas industry. It provides you with insightful training into volatile energy market prices, regulatory norms, and the sector’s unpredictable nature, so you can explore a variety of roles in the industry after graduation.
What’s the highest paying job in the oil and gas industry?
Sales representatives, executive account managers, and operation directors are among the highest paid in the oil and gas industry, earning between INR 73 lakhs to INR 1.02 crores.