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Economics of the Oil & Gas Industry

Energy Institute

Summary

Price
£1,390 inc VAT
Or £115.83/mo. for 12 months...
Study method
Online
Duration
4 days · Self-paced
Access to content
Access until course completion
Qualification
No formal qualification
Additional info
  • Tutor is available to students

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Overview

A 4-day online introduction to the economics of the oil and gas industry. This course is suitable for students who are new to the oil and gas industry.

Description

Learning objectives

This 4-day course provides an introduction to the economics that drive the oil and gas industry. Participants in this course will learn about the oil and gas value chains and will consider the costs, revenues and risk associated with various stages in the chains. Basic economic principles such as Net Present Value and Internal Rate of Returns will be introduced and illustrated with examples from the oil and gas industry. The course will also consider the pricing of oil, oil products and gas – what drives these prices and how investors can hope to make good returns in markets where the commodity prices are so volatile.

The training course is highly interactive with a mix of lectures, case studies, group exercises, quizzes and competitions.

Who should attend

This course provides an introduction to the economics of the oil and gas value chains suitable for students who are new to the oil and gas industry. It is also useful for those from a technical background who are looking to learn about commercial and economic aspects of the industry

Course overview

Overview of Oil and Gas Value Chains

  • Introduction to the Oil Value Chain
  • Introduction to the Gas Value Chain
  • Capital and Operating Costs
  • Major Projects
  • Commodity Financing/Project Financing

Project Economics – NPV’s, IRRs and others

  • Introduction to economic terms – NPV, IRR, DCF etc
  • Introduction to cash flows
  • Project examples

Economics of Exploration and Production

  • Typical Project Costs
  • Risks and Rewards
  • Typical Contracts and Fiscal Terms – Concessions, PSA’s, Service contracts and more.
  • Reserves and Reserves Certification

Pricing of Oil and Natural Gas

  • Influences on world oil price
  • Marker crude oils
  • Crude oil characteristics and quality differentials
  • Crude oil trading (overview)

Refinery Economics

  • Introduction to Refining
  • Refining margins and GPW
  • Typical Project Costs – review of CAPEX and OPEX for refineries
  • Risks and Rewards

The Economics of Gas Monetisation

  • Introduction to Gas Monetisation – Pipelines, LNG, Petrochemicals and GTL
  • Typical Project Costs – review of CAPEX and OPEX for gas monetisation projects
  • Risks and Rewards

Valuation of Oil and Gas Assets

  • Valuation methods for oil and gas assets
  • Mergers and Acquisitions in the oil and gas industry

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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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