JNTU Hyderabad, School of Management Studies (JNTUHSMS)

Employment of petroleum engineers is projected to grow 15 percent over the next ten years, much faster than the average for all occupations. However, because it is a small occupation, the fast growth will result in only about 4,900 new jobs over the 10-year period.
Oil prices will be a major determinant of employment growth. Because many petroleum engineers work in oil and gas extraction, any changes in oil prices will likely affect employment levels. Higher prices can cause oil and gas companies to increase capital investment in new facilities and expand existing production operations. Typically, companies also expand exploration for new reserves of oil and gas when prices are high.
Demand for petroleum engineers in support activities for mining also should be strong, as large oil and gas companies find it convenient and cost effective to contract production and drilling work to these firms on an as-needed basis.