Petroleum Engineering Scope

Salary package for a petroleum engineer:
http://www.payscale.com/research/IN/Job=Petroleum_Engineer/Salary
There will be huge scope for petroleum engineering in India and abroad.
I would like to suggest some of the reasons to support the aforementioned statement:
After coal, it forms the 2nd most used energy source. Henceforth, the government will take every toll to secure its existence.
Some of the privately owned companies have suffered a huge decline in its net worth. For example, Cairn India whose net worth decreased drastically resulting in its alliance with Vedanta. As a result, the number of students hired was affected. But the PSUs, despite such trend went at its usual pace. Although, they incurred losses, but the percentage loss was minimal. With this, it can be inferred that as long as the PSUs do not succumb to the harsh conditions of industry, the future scope of petroleum engineering in India is secured.
India being an importer of the majority of crude oil will only be benefitted with decreased oil prices. But the same could be disheartening for any petroleum engineer.
The predicament of the O&G is not new. The similar situation arose twice in the past.
Considering the placements of the newly admitted students in different colleges, to name a few, IIT (ISM), UPES and PDPU. There is nothing to worry about as you have sufficient opportunities to get yourself into some of the highly reputed companies. The only requisite is to contribute few hours of your precious time to the subject. Furthermore, the introduction of the petroleum engineering in GATE reduces the intricacy of students who aspire for PSUs.

Hi Saurav,
Petroleum engineers are employed in jobs which are mainly concentrated in oil and gas extraction, professional, scientific and technical services and petroleum refining.
One can also entail the option of working as a scientist/researcher to carry out the R&D processes. Employment is rest assured for graduates in this sector as the number of graduates passing out is always less than the number of jobs available.The demand for petroleum and petroleum products is only expected to increase and the increase would lead to creation of new jobs. In fact, there is great demand of efficient petroleum engineers and almost every young graduate in petroleum engineering gets a job offer from petrol and gas companies from India and overseas.
Besides getting jobs in Indian petroleum companies, candidates with qualification in petroleum engineering get jobs in Reliance Industries Ltd, ONGC, Schlumberger, British Gas, Halliburton Services, Essar Oil, GSPC, Shell, OIL, Gas Authority of India Ltd, Cairn Energy, IOCL, Essar Oil Ltd, NIKO Resources, GEOENPRO, MECOM Ltd, Baker Hughes, Reliance Energy, etc amongst many others.
Top Institutes
The following institutes offer academic qualification in petroleum engineering:
• Bharathisadan Institute of Engineering and Technology
• BR Ambedkar Technological University
• Indian School of Mines
• Maharashtra Institute of Technology
• Institute of Petroleum Studies and Chemical Engineering
• Nowrosjee Wadia College
• University of Petroleum Studies
• Institute of Cheminformatics Studies
• Dr. Harising Gour University
Students interested in pursuing courses in petroleum engineering can do the following:
• BE Petroleum Engineering
• BTech Applied Petroleum Engineering
• BTech Petrochemical Engineering
• BTech Petroleum Engineering
• BTech Petroleum Refining and Petrochemicals Engineering
• BTech Petroleum Refining Engineering
• BTech Petroleum Reservoir And Production Engineering
• ME Petroleum Engineering
• MTech Petroleum Engineering
• MTech Petroleum Exploration
• MTech Petroleum Refinery Engineering
• MTech Petroleum Refining and Petrochemical Engineering
Hope this information helps. Please feel free to revert.
Wish you luck.