With continuous development in energy policies across many countries, the great crew change, and increased international oil and gas trade, the hydrocarbon sector has reached a crossroads. On the one hand, the demand for oil and gas is constantly increasing; on the other hand, issues such as greenhouse gas emissions and climate change, pricing, security of supply, and constantly increasing exploration and production budgets are pressing the industry severely. To meet continued increasing demand and offset the challenges, skilled human resources are key. The challenge for companies is to develop rigorous talent management systems to help ensure availability of the most-experienced, best-trained, best-educated, most-flexible, and most-adaptable people for the industry and then find meaningful and creative ways of retaining them while also using them to truly enhance the company’s productivity and profitability. In the last 10 years, the oil and gas industry has seen major changes in trading practices throughout the value chain. Deregulation of petroleum products in India led to increased competition mainly in the downstream sector. This, in turn, forced companies to change hiring patterns to better cope with the higher standards and requirements that became prevalent in the market. Retirement rates are still increasing, giving rise to the industry’s current talent crunch.