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Overview of Petroleum Economics

4 days ENE/OPE
  • People from energy and petroleum sectors, industrial partners, business men and financiers, as well as staff of the public administration
  • To have an overview of the petroleum sector, understand the oil operations and business from upstream to downstream and identify the 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)
  • to interpret the evolution of the factors affecting the energy supply and demand (crude price, technology, reserves, geopolitics, geography, environment, etc.)
  • to identify the actors of the energy scene and their strategic guidelines
  • to describe the main steps of the upstream sector
  • to distinguish the different types of oil contracts and to explain the main economic criteria to evaluate a project
  • to summarize the operation of the physical and financial oil markets
  • to explain the evolution of the refining sector and of the petroleum product markets
Ways and means
  • Quiz and game on the fundamentals of the energy sector
  • Case study on the economic evaluation of an E&P project
  • Exercises on the transportation costs of a cargo, on hedging and on refining margins
  • Team games on factors affecting the crude price, on the upstream sector and on the 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
2016 course calendar
Language Dates Location Tuition Register
Apr 05 - 08 Rueil €2,450 Online By email
Jun 21 - 24 Rueil €2,450 Online By email
Oct 04 - 07 Rueil €2,450 Online By email
Nov 29 - Dec 02 Rueil €2,450 Online By email
Dec 13 - 16 Rueil €2,450 Online