Petroleum Economics: Advanced Techniques

Course overview

What is the purpose of petroleum economics?

A study of petroleum supplies, distribution, funding, and economics is known as petroleum economics. Because it is used more frequently in every industry and sector, petroleum is the most significant natural resource in the world. Due to its substantial dependency, fluctuating pricing, availability, convoluted transportation system, and importance in industrial advancement, petroleum is an essential subject for economic study.

What is the role of petroleum in the economy?

However, because of the political and economic connections with the oil sector and regulatory bodies, petroleum economics is a complicated subject. Petroleum economics has ties to a number of industries, including manufacturing, shipping, and transportation. Petroleum specialists need to be familiar with a number of issues, including cash flow in the oil business, organizational challenges in oil finance, price forecasting, cost management, drivers, and risk management.

The economics and business of petroleum are the main topics of this Training Bee training program, which focuses on the skills needed for sophisticated decision-making in areas including economic analysis of the petroleum industry, investment analysis, and the creation of government petroleum plans and policies.

Introduction

The whole skill set needed to succeed as an expert in petroleum economics will be provided by this Training Bee training. The course thoroughly examines all important financial components of the petroleum industry, giving students the practical knowledge they need to assume leadership in these areas. There will be more opportunities to demonstrate abilities and potential in this course. The program will offer several prospects for professional development within numerous Petroleum organizations. We’ll talk about how to understand the several petroleum economics tools that are available, like economic modeling, decision analysis, and exploration analysis. These subjects will help delegates improve their management skills and their ability to interact with economists both inside and outside of their organization.

We are The Training Bee, a global training and education firm providing services in many countries. We are specialized in capacity building and talent development solutions for individuals and organizations, with our highly customized programs and training sessions.

Come along on this insightful trip with us, and you’ll leave a more certain and strategic participant in the field of petroleum economics. Prepare to seize new chances, increase profitability, and contribute to the energy landscape’s sustainable future. Welcome to the Petroleum Economics Master class!

Learning Objectives

Upon completing Petroleum Economics: Advanced Techniques, participants will be able to:

Information and understanding of petroleum-specific energy economics
Knowledge and comprehension of global standards and ideas pertaining to petroleum firms and projects
How improved petroleum management can lead to organizational growth and operational improvement
The expertise and knowledge required to instruct other professionals in petroleum economics best practices
Having the knowledge and exposure to address the proper aspects of climate change and petroleum use
The necessary analytical capabilities to precisely estimate Petroleum supply and demand

Our Unique Training Methodology

This interactive course comprises the following training methods:

Role-playing – Participants will take part in several role-plays and understand practical ways of solving issues.
Journaling – This consists of setting a timer and letting your thoughts flow, unedited and unscripted recording events, ideas, and thoughts over a while, related to the topic.
Social learning – Information and expertise exchanged amongst peers via computer-based technologies and interactive conversations including Blogging, instant messaging, and forums for debate in groups.
Project-based learning
Mind mapping and brainstorming – A session will be carried out between participants to uncover unique ideas, thoughts, and opinions having a quality discussion.

Training Medium

This Petroleum Economics: Advanced Techniques training is designed in a way that it can be delivered face-to-face and virtually.

Course Duration

This training is versatile in its delivery. The training can be delivered as a full-fledged 40-hour training program or a 15- hours crash course covering 5 hours of content each day over 3 days

Pre-course Assessment

Before you enroll in this course all we wanted to know is your exact mindset and your way of thinking.
For that, we have designed this questionnaire attached below.

What does the term “petroleum economics” mean?
Identify the key variables that affect the economics of petroleum production and exploration.
What essential elements make up a standard petroleum economics cash flow analysis?
Describe net present value (NPV) and the significance it plays in petroleum economics.
What various costs are associated with petroleum operations?
Describe the variations between the petroleum industry’s upstream, midstream, and downstream sectors.
Describe the primary techniques for calculating petroleum reserves.

Course Modules

This Petroleum Economics: Advanced Techniques covers the following topics for understanding the essentials of the Agile Workplace:

Module 1 – ENERGY AND PROCESSING

Energy Sector Upstream Activities Petroleum Sector Upstream Activities
Exploration of oil and natural gas
Oil and gas are being discovered using drilling and production technology.

Module 2 – ASSETS

Management of assets
Influencing factor for asset value
The lifespan of oil assets
Organize and assess the upstream resources
Asset operating expenses

Module 3 – PETROL ECONOMY

Sector of energy and petroleum: Mid-stream activities
Economics of crude oil and natural gas
Transport and recovery
Transportation of oil and gas through pipelines

Module 4 – TRANSPORTATION BY POLLUTION

Management of pipeline transportation
Operating & maintenance expenses for pipelines
Crude oil shipping and tanker mapping cross-border pipeline transportation
Energy and petroleum product prices

Module 5 – REFINERIES’ AND THE SUPPLY CHAIN’S PART

Oil and gas industry: downstream activities
Provision of finished goods, i.e., refinery operations
Technology’s role in conversion and refinement
Supply-chain economics for petroleum

Module 6 – PETROLEUM BUSINESS STRATEGIES

Petroleum products’ market and consumer demand
Business plan for the sale of petroleum products
Petro-accounting
Full-cost and reverse recognition accounting
Income and financial statements

Module 7 – PETROLEUM MARKETING

Geopolitics and Oil Trading
The petroleum industry’s current state and its global corporate environment Downstream refining and marketing
Economic environment, oil hydrocarbon trend, and hydrocarbon structure

Module 8 – ADVANCED TECHNIQUES

Petroleum sector advancement through petro-informatics
Petro e-market and business architecture for e-gas stations
Energy sector: Next-generation services

Post-course Assessment

Participants need to complete an assessment post-course completion so our mentors will get to know their understanding of the course. A mentor will also have interrogative conversations with participants and provide valuable feedback.

Explain the meaning of “breakeven price” in petroleum economics and how it affects decisions.
Describe the basic techniques for determining if petroleum projects will be profitable.
Discuss the consequences for petroleum economics of the “production decline” idea.
Discuss how risk analysis and making decisions in the face of uncertainty are used in petroleum economics.
Compare and contrast the benefits and drawbacks of several fiscal regimes that are frequently applied in the petroleum business.
Describe the procedures required in carrying out a thorough economic analysis of a petroleum project.

Lessons Learned

Knowing how economics and petroleum interact: Participants will have gained knowledge of the complex relationships between petroleum economics and the discovery, extraction, and distribution of petroleum resources. They will have a thorough awareness of the economic dynamics affecting industry decision-making.

The capacity to assess the financial sustainability of petroleum projects using techniques like cash flow analysis, net present value (NPV), and internal rate of return (IRR) will be obtained by participants. They will have mastered the ability to weigh project risks and uncertainties and make wise investment choices.

Fiscal regimes and their effects: Participants will have learned about the various fiscal structures used in the petroleum sector and how they affect project economics.

“Deep Petroleum Economics Knowledge Will Advance Your Career.”