Why Choose this Training Course?
This 10-day two-phase Petroknowledge Training Course is concerned with one of the most important activities in the development of oil and gas business-forecasting the oil prices, as basis for planning and investment. As we have learned that oil prices are depending on many factors, and that prices simulations need to be much more stringent in order to determine the actual risk that our investment is facing.
A critical component of decision-making in the energy industry deals with the aspect of “Whither oil prices?”: Where do we expect prices to move in the near- and distant-terms? Participants in the Energy Industry are constantly confronted with a wide range of information regarding current and prospective prices in their industry. Broadly, this data comes from analyses of supply-and-demand changes, geopolitical events and the financial markets, including the commodity markets.
The oil projects require lot of investment, and it takes years for the oilfield to start producing profit, therefore adequate forecasts are essential for companies to understand when and how their returns on investment will appear and how valuable will they be.
While providing the requisite background on the economics of financial commodity markets, as well as the statistical tools required to understand them, this Petroknowledge Training Course demonstrates how the financial and commodity markets provide useful information for the generation of “expected prices”, or forecast prices, in the critical areas of oil, natural-gas and refined products. In so doing, the training course will also demonstrate the important distinction between valuation and risk/return analyses.
This Petroknowledge training course is split into two phases: