The 10-Day Training Course on International Financial Reporting & Treasury Risk Management for the Oil & Gas Industry

An Intensive 10-Day Training Course

The 10-Day Training Course on
International Financial Reporting &
Treasury Risk Management for the Oil & Gas Industry

Essential guide to IFRS and Risk Management

Scheduled Dates

26 Aug - 06 Sep 2024 London - UK $11,900
28 Oct - 08 Nov 2024 Dubai - UAE $11,900
Enroll Now In-House Options

Are the scheduled dates matching with your needs?

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 Finance and Treasury Management training course will provide delegates with the essential knowledge and skills to manage the Treasury effectively thereby improving liquidity, investment returns and international cashflow as well as risk management. This highly-interactive training course will also develop an improved understanding of International Financial Reporting enabling reports to be written in accordance with IFRS and evaluated to improve decision making. 

The Treasury & Risk Management function and Financial Reporting are essential to the success and sustainability of all leading corporate organisations. Never has this been more true, given the ever increasing pace of change in regulation, compliance, technology and financial risk within the Oil & Gas industry.

Treasury Management ensures sufficient liquidity to meet its obligations, whilst managing payments, receipts and financial risks such as Credit Risk, Oil Price, Exchange Rate and Interest Rate Risk effectively. In addition, effective Treasury & Risk management will enable companies to make informed and better strategic decisions, providing the analysis, finance and risk assessment.

Financial Reporting develops an essential understanding of Oil & Gas accounting, reporting and performance measurement issues and practices. It develops your ability to prepare, use and critically evaluate information, applying specialist industry knowledge and relevant analytical skills.

This training course will highlight:

  • The Role of Scope of Treasury & Risk Management
  • The latest international tools and techniques to enable you to identify; measure and manage risk effectively
  • Methods to ensure, liquidity, improved investment returns and smooth cash operations
  • Capital Investment Techniques and Methods of Finance to support Strategic Objectives
  • The features and Benefits of Derivatives as Risk Management tools
  • The main requirements of International Financial Reporting Standards (IFRS) relevant to the Oil & Gas industry
  • The Analysis & Evaluation of Financial Reports to improve decision making and performance.

The Structure

This PetroKnowledge training course is split into two modules:

MODULE I - Treasury and Risk Management

MODULE II - International Financial Reporting Standards (IFRS) for the Oil & Gas and Petrochemical Sectors (Upstream, Midstream & Downstream)

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a two-week training course.

What are the Goals?

What are the Goals?

By the end of this training course, participants will learn to:

  • Manage Cash; Liquidity & Working Capital to reduce finance costs and improve returns
  • Make informed Strategic Decisions
  • Determine and Implement the company’s Risk Management Strategy
  • Recommend Hedging and Risk Management Decisions
  • Improve the Corporate Governance of the organization
  • Apply International Financial Reporting Standards most relevant to the Oil & Gas industry
  • Analyse and evaluate financial reports to better meet the needs of users
  • Review and use publicly available information to benchmark the business performance of your company in the Oil & Gas industry

Who is this Training Course for?

Who is this Training Course for?

Given the importance of the Treasury & Risk Management and and Financial Reporting & Analysis, this PetroKnowledge training course is suitable to a wide range of professionals but will greatly benefit:

  • Professionals who wish to up-date and improve their knowledge and skills of Treasury, Risk management and Finance
  • Financial decision makers, whose techniques of decision making and analysis will be improved through attendance
  • Managers and those with financial responsibilities
  • Professionals acting upon the financial decisions of others, who will gain an appreciation for decision making thereby ensuring shared values within the organisation
  • Professionals with an interest in finance and the latest market developments

How will this Training Course be Presented?

How will this Training Course be Presented?

In order to ensure skill development as well as improved knowledge, the training course will be conducted along workshop principles using real life case studies and interactive worked examples from the Oil & Gas industry. Participants will be actively engaged, individually and as part of a group, in their discussion, analysis and evaluation throughout the course.

Participants will also be given a detailed set of handouts in hard and soft copy to enable them to review the topics covered at a later date.

Daily Agenda

Module 1 - Treasury and Risk Management

Day One: The Role of Treasury Management – An Overview

  • The Role & Scope of Treasury Management
  • Operation & Location of a Treasury Department – Cost or Profit Centre; Centralised or Decentralised
  • Cash & Liquidity Management
  • Working Capital Management
  • Capital/Finance Management
  • Risk Management

Day Two: Cash & Liquidity Management – A Detailed Analysis

  • Cash Forecasts: Role & Preparation
  • Investment of Cash Surpluses to Maximize Return
  • Meeting Cash Calls and Short-Term Cash Shortages/Short Term Finance
  • Working Capital Management – Determining the Optimum Level
  • Multi-national & Group Cash Management
  • Cash Budgets: Process & Control

Day Three: Financing and Capital Management

  • Strategic Objectives: Consolidation, Growth, M & A; Joint Ventures, Diversification etc
  • Financing Strategic Objectives/Long Term Finance (Public & Private Equity v Buyer & Supplier Debt)
  • Optimizing the Capital Structure to Minimize the Cost of Capital (WACC)
  • The Capital Asset Pricing Model (CAPM)
  • Capital Investment Appraisal – NPV; IRR, Payback
  • Capital Rationing: Internal & External

Day Four: Risk Management

  • Identifying Risks and Uncertainties – Internal & External; Financial & Non-Financial
  • Measuring Risk – Volatility; Variance; Standard Deviation; Probability; Value at Risk
  • Determining the Risk Management Strategy – assessing impact and probability
  • The 4 T’s – Tolerate; Terminate; Transfer; Treat
  • Internal Controls & Internal Auditing
  • Credit & Counterparty Risk Management

Day Five: Currency; Interest Rate & Commodity (Oil Price) Risk Management

  • Forward Contracts and Forward Rate Agreements
  • Options – Calls & Puts; European & American
  • Futures – Market Correlation; Margin Payments etc.
  • Swaps – Currency & Interest Rate Risk and Benefits
  • Foreign Currency Accounts other Internal Methods/Tactics
  • Foreign Currency Borrowing

Module 2 - International Financial Reporting Standards (IFRS) for the Oil & Gas Industry

Day Six: The Oil and Gas Sector & Major Accounting Issues

  • The Oil & Gas Sector & the Macro-economic Factors
    • Commodity prices, currency fluctuations, interest rate risk and political developments and environmental risk.
  • Costs in Acquisition, Exploration, Development and Production of new oil or natural gas reserves
  • Accounting Approaches
    • The "Successful Efforts" (SE) Method or the "Full Cost" (FC) Method
  • Introduction/Overview of IFRS in relation to the Oil & Gas Sector, with particular reference to:
    • IFRS 1: First-time Adoption of International Financial Reporting Standards
    • IFRS 6: Exploration for and Evaluation of Mineral Assets
    • IFRS 10: Consolidated Financial Statements
    • IFRS 11: Joint Arrangements
    • IAS 16: Property, Plant and Equipment
    • IAS 36: Impairment of Assets
    • IAS 37: Provisions, Contingent Liabilities and Contingent Assets
    • IAS 38: Intangible Assets
    • IAS 39 Financial Instruments: Recognition and Measurement – Superseded by IFRS 9 – was to be effective 2013 but now 2018

Day Seven: Evaluating the Performance and Identifying the Accounting Issues

  • Analysis of financial statements
    • Income Statements
    • Statement of Financial Position (Balance Sheet)
    • Cash flow Statements
  • Identification & Evaluation of their Accounting Policies
  • DuPont Analysis – Evaluating and Improving Return on Equity (ROE)
  • Evaluation of their Share Price and Investment Performance
  • Case Study: BP, Chevron, Shell and SABIC

Day Eight: Accounting for Upstream Activities with Reference to IFRS

  • Reserves and resources
  • Exploration and evaluation
  • Revenue recognition
  • Assets
  • Depletion, Depreciation & Amortisation (“DD&A”)
  • Impairment of development, production and downstream assets
  • Examples: BP, Chevron & Shell

Day Nine: Joint Arrangements, Financial Instruments and Derivatives

  • Business Combinations, Joint Ventures & Production Sharing Agreements (“PSA”s)
  • Treasury Management Issues for Multi-nationals
  • The Use of Derivatives in the Oil& Gas Sector to manage the commodity, currency and interest-rate risks etc.
  • British Airways Case Study – Hedging the Oil Price using Futures

Day Ten: Creative Accounting and Corporate Governance

  • Creative Accounting – Enron and investor protection
  • Leases – IFRS 16 (new standard)
  • Auditors and reporting to investors in the oil and gas industry
  • External audit investigations and reports
    • The Auditor’s ‘Opinion'
    • True and Fair
    • Sarbanes Oxley
    • Internal audits
  • Ethical issues
  • Corporate governance
    • Government regulation
    • Investor confidence and share prices


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

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

Visit Website ›

Oxford Management Centre

Our collaboration with Oxford Management Centre aims to provide the best training services and benefits for our valued clients.

Visit Website ›

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 50 981 7386 | +971 2 557 7389 or send an email to

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

Download PDF

© 2023. Material published by PetroKnowledge shown here is copyrighted.

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.

Sending your message. Please wait...


There was a problem sending your message. Please try again.

Please complete all the fields in the form and check the recaptcha before sending.