COURSE OVERVIEW

 

This practical and highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using our state-of-the-art simulators. 

 

This course is designed to provide participants with a detailed and up-to-date overview of Basic Petroleum Economics. It covers the economic principles in petroleum and economic decision-making processes; the major oil and gas producers, supply chain in the petroleum industry and the role of OPEC and Non-OPEC countries; the supply and demand in the oil market, price formation mechanisms, key factors affecting oil prices and petroleum market dynamics; the economic indicators for petroleum industry, types of petroleum reserves and regulatory environment; and the time value of money in petroleum projects, capital budgeting in petroleum projects and cash flow analysis for petroleum projects. 

 

Further, the course will also discuss the financial ratios in petroleum economics, economic evaluation of oil and gas fields and risk and uncertainty in petroleum economics; the project feasibility studies, feasibility study framework, valuation methods for oil and gas projects and reserve valuation; the production sharing agreements (PSA) and their economics, cost recovery mechanisms and economic implications of production and development decisions; and the petroleum price forecasting and supply chain and transportation economics. 

 

 

 

During this interactive course, participants will learn the trading and hedging in petroleum markets and economic analysis of refining and marketing; the geopolitical factors affecting petroleum markets including environmental economics and carbon pricing; the corporate strategy in the petroleum industry and sustainability and the future of petroleum; the role of technology in petroleum economics and petroleum economics in emerging markets; the economic impact of oil spill and environmental incidents; and the future economic trends in the global petroleum market.