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Overview of Petroleum Economics

4 days ENE/OPE
Level
Foundation
Audience
  • This course is geared towards people from the energy and petroleum sectors, industrial partners, business men and financiers, as well as public administration staff.
Purpose
  • This course aims to provide an overview of the petroleum sector so that participants may understand the oil operations and business, from upstream to downstream, and identify economic challenges.
Learning Objectives
  • Upon completion of the course, participants will be able to:
  • describe the different types of energy resources (conventional, unconventional, renewable & fossil),
  • interpret the evolution of the factors affecting the energy supply and demand (crude prices, technology, reserves, geopolitics, geography, environment, etc.),
  • identify the actors of the energy scene and their strategic guidelines,
  • describe the main steps of the upstream sector,
  • distinguish the different types of oil contracts and explain the main economic criteria to evaluate a project,
  • summarize the operation of the physical and financial oil markets,
  • explain the evolution of the refining sector and of the petroleum product markets.
Prerequisite
  • No prerequisites for this course.
Ways and means
  • Quiz and serious game on the fundamentals of the energy sector,
  • Case study on the economic evaluation of an E&P project,
  • Exercises on cargo transportation costs, hedging, and refining margins,
  • Team games on factors affecting crude prices, the upstream sector, and oil trading.

INTERNATIONAL ENERGY SCENE 1 day
  • Energy resources: definition, characteristics, conversion factor.
  • Energy demand and supply: evolution factors (reserves, technology, etc.) and scenarios.
  • History of the oil industry.
  • Determinants impacting crude oil prices today.
  • Strategies of actors: producer and consumer countries, national, independent and international oil companies, international organizations (OPEC, IEA, etc.).
  • Financial and political stakes, geographical and environment constraints.
UPSTREAM 1 day
  • Stages and technico-economic aspects of the Exploration-Production.
  • Reserve evaluation.
  • Economic criteria and evaluation method of an oil project.
  • Oil contracts and principle of the oil rent sharing.
MIDSTREAM 1 day
  • Business practices and pricing.
  • Physical markets (spot, forward): operation, reporting agencies.
  • Introduction to incoterms.
  • Pricing a cargo, freight rates.
  • Financial markets (futures): operation, hedging.
DOWNSTREAM 1 day
  • Refining processes and units.
  • Refining capacities, projects, strategies of actors.
  • Economic aspects of the refining sector: investments, costs and margins.
  • Environmental constraints, alternative fuels.
  • Petroleum product markets and marketing.
2017 course calendar
Language Dates Location Tuition Register
Apr 25 - 28 Rueil €2,490 Online By email
Jun 20 - 23 Rueil €2,490 Online
Oct 03 - 06 Rueil €2,490 Online
Dec 05 - 08 Rueil €2,490 Online
Dec 12 - 15 Rueil €2,490 Online