Petroleum Policy & Economics

Introduction

The oil & gas industry is a dynamic and high-stakes environment. It presents unique analytical challenges where every decision has far-reaching consequences. The inherent uncertainty in oil and gas decisions is also multifaceted, stemming from both geological and market-borne aspects. Yet as the famous investor Warren Buffett has aptly put it, "Risk comes from not knowing what you're doing." This Petroleum Policy & Economics training course prepares participants to tackle the challenges of decision making in the oil and gas industry by providing them with skills in project decision analysis, economic evaluation, and policy analysis.

Learning policy analysis in the oil and gas industry is crucial for making informed, strategic decisions that maximize value and mitigate risks amidst complex market dynamics, regulatory changes, and geopolitical shifts. It enables professionals to understand how policies impact project economics, investment, and sustainability. By the end of this Petroleum Policy & Economics training course, participants will have the knowledge and skills to steer projects through industry uncertainties and towards profitable outcomes.

This GLOMACS Petroleum Policy & Economics training course will highlight:

• Petroleum industry landscape and long-term trends
• Project decision analysis, profitability measures, and risk assessment techniques
• Energy transition and economics of decisions
• Cash flow modeling, investment decision measures, and sensitivity analysis
• Risk management using decision trees, Monte Carlo simulations, and probability distributions
• Strategic Decision-Making insights by evaluating project options
• Decision recommendations using investment analysis, scenario planning, and the use of software models
• The analytical challenges unique to the oil and gas industry

Objectives

Petroleum industry is the realm of large bets with uncertain outcomes. Yet as John A. Shedd mentions "A ship in the harbor is safe, but that is not what ships are built for."

At the end of this Petroleum Policy & Economics training course, you will learn to: 

• Analyze petroleum industry landscape and trends to understand global shifts
• Evaluate project profitability and risk techniques to optimize investment decisions
• Assess energy transition impacts on economics to adapt future strategies
• Apply cash flow modeling and investment measures to accurately gauge performance
• Manage project risks using advanced simulations to quantify uncertainty effectively
• Develop strategic decision insights by evaluating project options to maximize value
• Recommend optimal investment scenarios using analysis to guide key choices
• Address oil and gas analytical challenges to enhance problem-solving capabilities

Training Methodology

This training course uses an interactive learning environment where participants actively engage in discussions, case studies, and practical exercises to reinforce learning key concepts. The instructor brings extensive academic and consulting experience to the table. He blends robust concept descriptions with learning through real-world examples and applications. Ideas are presented clearly, fostering a "learning for doing" approach, so participants can confidently apply their knowledge to solve complex project challenges.

Organisational Impact

Employees with the knowledge and skills of this training course contribute to better decision-making that benefits everyone by optimizing project economics, improving resource allocation, and mitigating financial risks. Furthermore, understanding petroleum policy development and economics adds strategic value and strengthens the organization's competitive advantage. This improves the long-term financial sustainability of the organization in the dynamic oil and gas and energy industry.

• Employees make informed, prudent decisions
• Project risks are better assessed and managed
• Project profitability is enhanced through better analysis
• Resource allocation improves, maximizing return on investments
• Competitive advantages and financial sustainability are strengthened

Personal Impact

This training course significantly enhances participants’ decision-making and analytical skills, empowering them to navigate complex and uncertain situations even beyond the petroleum industry landscape. By mastering key tools like financial modeling, risk assessment, and strategic planning, employees will develop a broader skillset that leads to more career growth opportunities. The specialized knowledge gained in project economics and decision analysis will not only increase their value to the company but also strengthen their expertise in the oil and gas and energy industry. This training course

• Enhances decision-making and analytical skills
• Empowers navigating complex, uncertain situations
• Broadens skillset for career growth
• Increases value to their company
• Strengthens industry expertise