Introduction
Petroleum Economics encompasses the study of petroleum sources, distribution, financing, and economics. As the most vital natural resource globally, petroleum’s significance spans every sector and industry due to its widespread reliance. The complexity of petroleum economics stems from dynamic pricing, availability, intricate transportation systems, and its critical role in industrial progress.
Learning Objectives
The main objectives of this Petroleum Economics training program are to equip professionals with the following:
- Knowledge and information specific to energy economics in the petroleum sector.
- Awareness of international standards and concepts related to petroleum companies and projects.
- Understanding how better management of petroleum resources can lead to organizational development and operational enhancement.
- Skills and experience to train other professionals in best practices of petroleum economics.
- Experience to address aspects of climate change and petroleum use.
- Analytical skills to accurately assess petroleum supply and demand.
- Capabilities to work with various energy models to increase efficiency and delivery.
- Expertise to assess risks and implement effective resolutions promptly.
Training Methodology
Courses at Xcelerate Training Institute are designed to allow customization according to the academic and professional backgrounds of the training audience. This includes a thorough review of the content before each session. Training is delivered by experienced professionals using detailed audio-visual live sessions, encouraging two-way communication and participation through group activities and projects. The innovative Do–Review–Learn–Apply Model is used for all courses.
Benefits for Your Organization
Organizations can benefit from:
- Petroleum Economists training other team members.
- Understanding how to initiate and evaluate the economic attractiveness of new upstream oil and gas ventures.
- Making better economic decisions considering reserves classification, production forecasting, inflation, and contractual arrangements.
- Identifying new opportunities for financing petroleum projects.
- Conducting successful risk assessment, analysis, and mitigation.
- Predicting and assessing petroleum demand to increase profits.
- Higher client satisfaction from balanced petroleum supply and demand, ensuring timely delivery.
- Employing advanced concepts and energy models to enhance productivity within the company.
Benefits for You
Participants will gain:
- Understanding of all critical aspects of petroleum economics and finance.
- Enhanced analytical skills for assessing petroleum supply and demand.
- Increased knowledge and confidence to train other employees.
- Better ability to improve and change processes for organizational development.
- Understanding of modern techniques related to petroleum finance, enabling higher responsibilities.
- Strategic skills to choose appropriate models for managing petroleum financing and economics.
- Foresight to predict risks and mitigate their impact on the company.
- Capabilities to actively participate in formulating energy policies for effective petroleum supply, distribution, and consumption.
Target Audience
This course is ideal for:
- Economists and Analysts in the Petroleum industry
- Geoscientists in the oil and gas sector
- Reservoir and Petroleum Engineers
- Production Associates and Engineers
- Policy Development Executives in the Petroleum sector
- Negotiators in the petroleum industry
- Financiers and Decision-makers in the Petroleum Industry
Course Outline
Petroleum and Processes
- Upstream activities in the energy sector
- Oil & natural gas exploration
- Drilling and production
- Technology in finding oil and gas
- Exploration techniques for petroleum
- Enhanced oil recovery and crude oil reserves
Assets
- Asset management
- Factors affecting asset value
- Life-cycle of oil assets
- Managing and evaluating upstream assets
- Operating costs of assets
Petroleum Economy – I
- Midstream activities in the energy and petroleum sector
- Crude oil and natural gas economics
- Recovery and transportation
- Pipeline transportation in oil and gas
Petroleum Transportation
- Pipeline transportation management
- Pipeline operating costs and maintenance
- Cross-border pipeline transportation and crude oil
- Oil shipping and tanker chartering
- Pricing of energy and petroleum products
Role of Refineries and Supply Chain
- Downstream activities in the energy and petroleum sector9
- Refining activities and finished products supply
- Technology in refining and conversion
- Petroleum supply chain economics
Business Strategies for Petroleum
- Demand and market for petroleum products
- Petroleum business strategy
- Retail business and petroleum retailing
- Petro-accounting
- Reverse recognition accounting and full-cost
- Financial and income statements
Trading of Petroleum
- Oil trading and geopolitics
- Global business and current status in the petroleum industry
- Downstream refining and marketing
- Trends and structure of oil
- Domestic and global economic environment of hydrocarbons
Modern Techniques
- Petro-informatics
- Advancements in the petroleum industry
- Petro e-business and e-market
- Architecture of e-gas station
- Next-generation services in the oil and gas industry
Petroleum Economy – II
- Micro-economics
- Macro-economics
- Industrial Economics
- Influence of macroeconomics on revenue
- Factors contributing to variation in crude oil prices
- Forecasting prices
- Relationship between price and investment, drilling counts, wells explored, and supply
- Financial decision making for new oil wells
- Cash flow model for oil wells