Finance for Non-Finance Professionals  in the Oil & Gas Industry

An Intensive 5 - Day Training Course

Finance for Non-Finance Professionals
in the Oil & Gas Industry

Fundamentals of Finance and Accounting for Effective Financial Management

Scheduled Dates

23 - 27 Oct 2022 Dubai - UAE $4,950
Enroll Now In-House Options

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We provide a wider range of training options. Tailored and customized, we can deliver your organization’s training needs anytime, anywhere.

Why Choose this Training Course?

Why Choose this Training Course?

This PetroKnowledge training course is aimed at professionals from all areas of business who require a better understanding of how finance works. Whether you are in Marketing, Human Resource Management, Maintenance or Production you will be affected by the budget available and your role will affect the profitability and cash flow of your company. The training course will take delegates from non-financial professionals to delegates who are able to understand key financial terms and contribute to the effective financial management of their department or role. The PetroKnowledge training course provides professionals from non-finance backgrounds with a fundamental grasp of the important principles of finance. This gives them the confidence to work alongside financial experts, make informed choices and fully participate in the management process.

In a competitive and uncertain economic environment all professionals need to be aware of the power and importance of finance and effective financial management. This PetroKnowledge training course will provide that understanding and develop key skills helping the company to create a finance culture throughout the organisation.  

This PetroKnowledge training course will feature:

  • A Glossary of Key Financial Terms to aid understanding
  • Key Features of Oil & Gas Accounting to aid performance evaluation
  • Preparation, Implementation & Control of Budgets and Costs
  • Capital Investment Appraisal – raising finance for investment and evaluating the return
  • Risk Management techniques to reduce or eliminate financial risks

What are the Goals?

What are the Goals?

By the end of this PetroKnowledge training course, participants will be able to:

  • Take part in financial discussion at work armed with their understanding of key financial terms
  • Understand & apply accounting & financial techniques in an Oil & Gas corporation.
  • Understand and evaluate corporate financial reports
  • Evaluate investment decisions
  • Identify, measure and manage financial risks effectively

Who is this Training Course for?

Who is this Training Course for?

Given the importance of finance, this PetroKnowledge training course is suitable for a wide range of professionals, working in the Oil and Gas industry, who wish to expand their financial knowledge, in order to achieve career progress and add value to their organisaton.  It will greatly benefit the following:

  • Non-financial professionals whose role demands an understanding of finance
  • Operational, marketing, production management team
  • Marketing, HR and Administration professionals who need to work to budget or contribute to budget preparation
  • Professionals who aspire to manage departments where financial control s key
  • Risk managers who wish to learn the latest techniques
  • Finance staff who wish to improve their knowledge

How will this Training Course be Presented?

How will this Training Course be Presented?

This PetroKnowledge training course uses a range of proven training methods designed to develop both understanding and skills enabling delegates to transfer benefits directly to their workplace.  The training course presenter will discuss, develop, and present key topics and develop understanding using real world case studies and examples from the Oil & Gas Industry.

Case studies will also provide the opportunity for delegates to participate in teamwork analysis, to explore options, and propose strategies and solutions. All supported by extensive notes and a clear Glossary of Key Financial Terms.

Daily Agenda

Day One: Finance and Accounting  

  • What is Finance?
  • The Importance of Finance
  • The Sources & Types of Finance
  • The Cost of Finance
  • What is Accounting - Financial & Management Accounting?
  • The Financial Accounting System 

Day Two: Financial Statements of Oil & Gas Companies 

  • Preparing Basic Financial Statements: Cashflow, Income Statement and Statement of Financial Position
  • International Financial Reporting Standards (IFRS) and US GAAP
  • Revenue recognition – upstream, midstream and downstream
  • Costs of Exploration & Evaluation of Mineral Reserves (IFRS 6)
  • Accounting for Assets
  • Analysis and Evaluation of Oil and Gas Financial Statements                                           

Day Three: Management Accounting for Decision Making in the Oil & Gas Industry  

  • The Role & Purpose of Management Accounting
  • Costing Methods
  • Cost-Volume-Profit and Break-Even Analysis  
  • Budgeting – Objectives, Methodologies and Processes
  • Preparing, Implementing & Controlling Budgets
  • for Oil and Gas Operations  
  • Variance Analysis - Budget v Actual results

Day Four: Capital Investment Appraisal in the Oil & Gas Industry

  • Strategic Planning and it’s link to Financial Planning in the Oil & Gas Industry
  • Raising Finance for Capital Investment
  • The Cost of Equity, Cost of Debt, and Weighted Average Cost of Capital (WACC)
  • Investment Appraisal using: ARR, Payback, NPV and IRR
  • Mergers & Acquisitions
  • Decision Making when Capital is Rationed

Day Five: Financial Risk Management 

  • Identifying the Major Risks
  • Evaluating the Risk: Probability & Impact
  • Implementing a Risk Management Strategy
  • Hedging Risk Using Derivatives
  • Managing Oil Price Volatility
  • Managing Interest Rate Risk & Managing Foreign Currency Risk

Certificate

  • On successful completion of this training course, a PetroKnowledge Certificate will be awarded to the delegates

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 56 222 7795 | +971 2 557 7389 or send an email to reg@petroknowledge.com

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

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.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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