The activities of the oil industry have several impacts on the environment due to the large amounts of oily wastes that are generated. The oily sludges are a semi-solid material composed by a mixture of clay, silica and iron oxides contaminated with oil, produced water and the chemicals used in the production of oil. Nowadays both the treatment and management of these waste materials is essential to promote sustainable management of exploration and exploitation of natural resources. Biological, physical and chemical processes can be used to reduce environmental contamination by petroleum hydrocarbons to acceptable levels. The choice of treatment method depends on the physical and chemical properties of the waste as well as the availability of facilities to process these wastes. Literature provides some operations for treatment of oily sludges, such as landfilling, incineration, co-processing in clinkerization furnaces, microwave liquefaction, centrifugation, destructive distillation, thermal plasma, low-temperature conversion, incorporation in ceramic materials, development of impermeable materials, encapsulation and biodegradation in land farming, biopiles and bioreactors. The management of the technology to be applied for the treatment of oily wastes is essential to promote proper environmental management, and provide alternative methods to reduce, reuse and recycle the wastes.