IIT Dhanbad is known for offering the best program for a degree in Petroleum around the world. You will have the chance to secure a job with top companies with high packages, sometimes even leading up to 20 LPA. 

The table below gives a brief insight into the institutes. 

Current scenario:

• The number of high paying placements for Petroleum Engineering has considerably reduced after the institute became an IIT. If you have confidence on securing a well-paying job then go ahead and apply for the course in Petroleum.
• If placement is important to you then you might want to reconsider your options. Electrical and Mechanical observe a high number of placements considering they are core branches of Engineering. Petroleum being a niche field of study sees fewer placements.

Infrastructure: (Winning Institute - IIT Dhanbad)

• IIT Dharwad and IIT Bhilai are fairly new and therefore still do not offer a fully-developed campus. 
• IIT Dhanbad, on the other hand, has a well-developed campus that offers students all modern and updated facilities such as practical labs, multiple academic blocks, a digital library, and more. In terms of Infrastructure, IIT Dhanbad is way better.

Both options have their advantages and disadvantages so weigh in those and choose as you see fit.