Course Description

Rationale:

This course will make available the vital knowledge as well as skills to enable delegates to effectively control costs; prepare, manage as well as control budgets successfully in the Oil & Gas industry. It in addition provides solutions to the strategic issues facing the Oil & Gas industry, proposing sustainable growth strategies in an efficient cost control method.

This course will feature:

• A thorough perceptive of costing as well as budgeting in the Oil & Gas industry, spotlighting on foremost international practice
• Assessment and valuation of the most recent techniques
• Skills advancement via interactive sessions
• Key dialogue of strategic as well as operational issues presently facing the Oil & Gas trade

Course Objectives

At the end of this course, participants will be able to;

• Comprehend the basis and impact for oil price instability
• Propose strategic solutions to budget issues as well as cost control
• Assess and control costs efficiently in a competitive environment
• Prepare, manage as well as control budgets in the Oil & Gas Industry
• Use budgets to formulate efficient decisions to guarantee growth, maintain profitability as well as reduce risk
• Advise innovative hedging strategies used by foremost international companies to have power over risk and deal with budgets effectively

Course Outline

• Budgeting & Cost Control in the Oil & Gas Industry Case
• Oil Price instability – The Causes & Impact
• Foremost Costs of Acquisition, Exploration, Production as well as Development
• Cost Oil as well as Profit Oil
• The Cost Curve of the Oil Market
• Scheming Gross Margins as well as Net Margins
• Managing National Fiscal Budgets
• Finding tactical Solutions to Cost Control
• Joint ventures; Merger as well as Acquisition as a way out as well as growth opportunity
• Evaluating as well as Managing Capital Projects
• Managing Working Capital as well as Cash Flow
• The call for Growth at the same time as supervising costs
• Re-assessing the Strategic Plan in the light of current improvements
• Cost categorization as well as Cost Behaviour
• Job Process Costing, Batch Costing as well as Activity Based Costing
• Statistical Estimates of Costs
• Controlling Fixed as well as Variable Costs
• Earned Value Management
• Variance Analysis
• Budgeting in the Oil & Gas business
• The remuneration and restrictions of Budgeting
• The indispensable Features as well as Types of Budgets
• Arranging Forecasts as well as Budgets in an unstable Oil & Gas trade
• Using Budgets as a Management Tool
• Sensitivity, What-if as well as Break-Even, Analysis
• Managing as well as Controlling Budgets
• Hedging Oil Price Volatility
• Hedging Exchange Rate Risk
• Hedging Interest Rate Risk
• Controlling the Hedge to keep away from Speculation

Who Should Attend?

This course is specifically designed for;

• Those in charge for devising budgets, managing as well as controlling budgets
• Those in charge for making or acting on decisions based on budgets
• Professionals who require a more in-depth understanding of integrated planning and budgeting techniques
• Financial Planners and Cost Analysts
• Line heads with direct planning and budgeting responsibility

Delivery Method:

The programme will be delivered using the following methodologies: Lectures, discussions, syndicate work, case studies, audio visuals and exercises.

Course Venue:  

Course Fee:  

Course Duration: 1 Week

Course Date: May 22nd – 26th, 2023