OIL ENVIRONMENT • Energy demand and supply. Crude oil reserves and production. • History of the petroleum industry. Role of main actors: OPEC, NOCs, IOCs, INOCs, IEA. • Oil price evolution and long-term scenarios. • Present and future constraints of the Oil & Gas industry (alternative energies, investments, etc.). UPSTREAM ECONOMICS • Fundamental steps of the upstream business. • Economic aspects and costs, risks. • Understanding the E&P value chain. • Legal and fiscal framework for exploration-production (concessions, production sharing contracts, service contracts). NATURAL GAS ECONOMICS • Natural gas reserves and production around the world. • Main gas markets; their structures and constraints. • Liquefied natural gas chain, economics and trade. • Long-term sales and purchase gas contracts. Take-or-pay provisions and gas price formulas. TRANSPORT & INTERNATIONAL OIL MARKETS • International trade and shipping of crude and products. • Various types of markets and contracts: long-term contracts, forward and spot markets. • Case study: how to price & hedge a cargo of crude oil? REFINING ECONOMICS & PETROCHEMICALS • Basic technical aspects. Development in refining capacity. • Refining margins and costs. • Evolution of products specifications and structure of demand. • Inter-relationship between refining and petrochemicals. • Main petrochemical sectors; environmental and economic trends. Coping with economic cycles. • Case study: working in teams, participants have to calculate refining margins and the main operating indicators. PROJECT ECONOMICS & DECISION ANALYSIS TOOLS • Economic criteria for investment project evaluations (NPV, IRR, POT, etc.). • Global profitability analysis. Economic cost analysis. • Introduction to risk analysis. Risk management, financial and cost management. • Case studies: participants have to evaluate the economic profitability of a gas pipeline project and LNG project. STRATEGIC BUSINESS GAME • Introduction to strategy and financial management. • Introduction to the strategic game: participants are introduced to the use of strategic tools. • Communication and workshop: • Participants analyze their respective situation (SWOT analysis) in each of the branches (upstream, refining, retail and petrochemical). • Participants have to implement their decisions and evaluate its impact through the use of an Excel simulator. |