An Intensive 5-day Training Course
Cost Accounting and
Cost Management in Oil Refineries
Controlling Costs to Improve Efficiency and Profitability
Scheduled Dates
Classroom
| 23 - 27 Jun 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 25 - 29 Aug 2025 | Abu Dhabi - UAE | $5,950 | RESERVE A SEAT |
| 15 - 19 Sep 2025 | London - UK | $5,950 | RESERVE A SEAT |
| 01 - 05 Dec 2025 | Houston TX - USA | $6,950 | RESERVE A SEAT |
| 09 - 13 Feb 2026 | Dubai - UAE | $5,950 | RESERVE A SEAT |
Online
| 23 - 27 Jun 2025 | Online | $3,950 | RESERVE A SEAT |
| 15 - 19 Sep 2025 | Online | $3,950 | RESERVE A SEAT |
Would an alternative date be more suitable?
We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.
Why Choose this Training Course?
With increased competition and volatility in prices it is essential to manage costs effectively in the Oil Refinery sector in order to preserve profits, sustainability and market share. Cost Management is one of the most effective and essential tools for planning and monitoring organizational activities, as well as supporting future strategic decisions.
This course provides the essential knowledge and skills to enable delegates to successfully control costs; prepare, manage and control budgets in the Oil Refinery sector. It also provides solutions to the strategic issues currently facing major international Oil Refineries, enabling delegates to, effectively managing existing projects and recommend sustainable growth strategies in an efficient and cost effective manner.
This training course will highlight:
- The structure of the Income Statement and major costs
- Best Practice Costing Methods in Oil Refineries
- How to Manage & Control Costs to maintain profitability
- Inventory Management techniques to reduce costs
- Management techniques to stimulate cost control throughout the entire organisation
What are the Goals?
By the end of this training course, participants will learn to:
- Determine the Costs associated with your department/company
- Assess and Manage Costs/Price Volatility
- Use the very latest Costing Methods
- Analyse Cost & Price Volatility to enable better decisions
- Control Costs effectively
Who is this Training Course for?
This course is suitable to a wide range of professionals but will greatly benefit:
- Professionals responsible for Costs – Managing, Monitoring & Controlling
- Those whose role requires an understanding of the latest Costing techniques
- Anyone with planning responsibility
- Advisors, accountants and business consultants
- Professionals seeking a better understanding of the Costs & Prices within your organization
How will this Training Course be Presented?
This course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes:
- Discussion of the latest issues facing your organization and sector
- Real world case studies demonstrating the practical application of each topic
- Illustrative extracts from leading international companies
- Discussion of issues specifically relevant to your organisation
- Illustrated presentations of budget issues focusing on recent events and strategic issues
Organisational Impact
The organization will benefit by:
- Improved appreciation for the importance of cost control within the sector
- Improved cost control and management
- Improvements in communications between staff and line management
- Better preparation and management of budgets to support cost control
- Improved profit and sustainability
- More knowledgeable and financially aware staff with appropriate skills
Personal Impact
Individuals will benefit by:
- Increasing their knowledge and skill set in all phases of management accounting and cost management
- Greater ability to participate in and to lead cost management initiatives
- Recognizing the increased professionalism to deal with the current and future topics
- Increased recognition by the organization of their learning and professional commitment
- Challenging themselves in an immersive learning environment
- Knowledge of the latest international cost management methods
Daily Agenda
Day One: The Essentials of Cost & Price Management in the Oil Refinery Sector
- Identification of the critical costs and key performance indicators in the oil refinery sector
- A detailed examination of the income statement for an oil refinery
- Calculation of the cost of sales for refinery products
- Cost & price volatility within the sector
- Allocating responsibility for cost control
- Implementing a cost control culture within the organization
Day Two: Best Practice Costing Methods
- Best practice costing methods
- Job order, process costing & activity based costing methods
- Cost and value analysis
- Cost control
- Monitoring of expenditure
- Variance analysis and reporting
Day Three: Cost Management & Control
- Cost classification & cost behaviour
- Controlling fixed & variable costs
- Reducing fixed costs
- Cost-Volume-Profit analysis
- Inventory control to reduce costs
- Incentives to reduce costs
Day Four: Hedging Costs & Risk Management
- Hedging techniques to control costs & prices
- Forwards, futures, options & swaps
- Defining risk management and identifying costs/risks to hedge (Reduce or Eliminate)
- Determining the hedging strategy
- Implementing a risk management strategy
- Hedging price volatility
Day Five: Managing Project & Contract Costs & Prices
- Achieving efficiency of time & quality within budget
- Statistical estimates of activity duration & costs
- Critical path analysis
- Manpower & resource planning and management
- Earned value management
- Managing project risks in a cost effective manner
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
In Association With
Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to [email protected]
When should I expect to receive confirmation of registration?
Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to [email protected].
