Course Description
This comprehensive 5-day course provides in-depth knowledge of finance and accounting practices tailored to the oil and gas industry. Participants will gain practical skills in financial analysis, budgeting, and strategic decision-making within the context of exploration, production, and downstream operations. The course covers industry-specific accounting standards, risk management, and performance evaluation techniques.
Learning Objectives
- Understand and apply oil and gas accounting principles and financial reporting standards
- Analyze financial statements and key performance indicators specific to the industry
- Develop proficiency in budgeting, forecasting, and capital investment analysis for oil and gas projects
- Gain insights into risk management strategies and their financial implications
- Master cost allocation techniques and performance measurement in upstream and downstream operations
Course Modules
Day 1: Introduction to Oil & Gas Finance
- Industry overview and financial challenges
- Accounting standards and regulatory framework
- Financial statements in oil and gas companies
- Key performance indicators for the energy sector
Day 2: Upstream Accounting and Economics
- Exploration and production accounting
- Reserve estimation and valuation
- Joint venture accounting
- Production sharing agreements
Day 3: Midstream and Downstream Financial Management
- Pipeline and storage accounting
- Refinery economics and accounting
- Trading and risk management
- Inventory valuation methods
Day 4: Capital Budgeting and Investment Analysis
- Project evaluation techniques
- Risk analysis in capital investments
- Portfolio management
- Mergers and acquisitions in the oil and gas sector
Day 5: Financial Planning and Performance Management
- Budgeting and forecasting for oil and gas operations
- Cost allocation and transfer pricing
- Performance measurement and benchmarking
- Financial risk management strategies
Practical Wins for Participants
- Ability to interpret and analyze oil and gas financial statements with confidence
- Skills to evaluate and recommend capital investment projects in the energy sector
- Proficiency in creating accurate budgets and forecasts for oil and gas operations
- Enhanced decision-making capabilities for financial risk management in the industry
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
