Course Objectives:


This course allows personnel who don't have a financial background to understand the basic principles, theory and practice of financial reporting and analysis as they apply to the oil

and gas industry.

What you will learn


• How to interpret, understand and act on financial information 

• How to develop more effective decision-making skills 

• Elements of financial management specific to the oil and gas industry 

• A conceptual understanding of key E&P accounting topics including depreciation, reserves, decommissioning, and asset impairment tests

Who Should Attend?


This course is aimed at non-financial personnel at all levels and in all disciplines in the oil and gas industry who want to develop a better understanding of finance and budgeting.  


Course Content Summary


Sources and uses of financial information


• Sources of financial data 

• Financial information systems 

• uses of financial information for decision-making 
Understanding financial information
• Understanding basic principles 

• The profit and loss account 

• The balance sheet 

• The importance of working capital and how to control it 

• The difference between capital expenditure and operating expenditure 


Cash flow


• Understanding the difference between cash flow and profit 

• How to control cash flow 

• Techniques for measuring financial performance 

• How to measure financial performance 

• How to compare the performance of different Petroleum companies                                            
• How to prepare a budget 

• How to control a budget 


Effects of taxation

• How tax affects profit and cash flow 

• The impact of tax on decisions