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Economics of the Oil and Gas Industry

Energy Institute
Course summary
2 days
1,158.33 GBP excl. VAT
English
London
Next available date: 23/11/2020 - London
Open / Scheduled

Course description

Economics of the Oil and Gas Industry

This course is suitable for students who are new to the oil and gas industry.

This 2-day course provides and 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 product and gas – what drives these prices and how can investors 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.

Suitability - Who should attend?

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

Training Course Content

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

Expenses

The tuition fee for EI Member - £1,290

Tuition fee for Non-Member - £1,390

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About provider

Energy Institute

Energy Institute - Open and Online Courses in Energy Management, Oil and Gas and Risk Management

The Energy Institute (EI) is the professional body for the energy industry, delivering good practice and professionalism across the depth and breadth of the sector. The EI is the leading chartered professional membership body for the energy industry, supporting over...


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Energy Institute

61 New Cavendish Street
London

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