An Intensive 5-day Training Course
Budgeting & Cost Control for the Oil & Gas Industry
Preparing, Managing & Controlling Budgets Effectively in the Oil & Gas industry
CLASSROOM DATES
INTRODUCTION
This EuroMaTech Budgeting & Cost Control for the Oil & Gas Industry training course provides the essential knowledge and skills to enable delegates to successfully control costs; prepare, manage and control budgets effectively in the Oil & Gas industry. It also provides solutions to the strategic issues facing the Oil & Gas industry, recommending sustainable growth strategies in an effective cost control manner.
This EuroMaTech training course will feature:
- A detailed understanding of costing and budgeting in the Oil & Gas industry, focusing on leading international practice
- Examination and evaluation of the latest techniques
- Skills development via interactive sessions
- Key discussion of strategic and operational issues currently facing the Oil & Gas industry
TRAINING OBJECTIVES
- Understand the reasons and impact for oil price volatility
- Recommend strategic solutions to budget issues and cost control
- Measure and control costs effectively in a competitive environment
- Prepare, manage and control budgets in the Oil & Gas Industry
- Use budgets to make effective decisions to ensure growth, maintain profitability and reduce risk
- Recommend innovative hedging strategies used by leading international companies to control risk and manage budgets effectively
WHO SHOULD ATTEND?
This EuroMaTech training course is specifically tailored for those working or wishing to work in the Oil & Gas industry. It is particularly suited to:
- Those responsible for devising budgets, managing and controlling budgets
- Those responsible for making or acting on decisions based on budgets
- Professionals who require a more in-depth understanding of integrated planning and budgeting techniques
- Financial Planners and Cost Analysts
- Line heads with direct planning and budgeting responsibility
TRAINING METHODOLOGY
This EuroMaTech Budgeting & Cost Control for the Oil & Gas Industry uses training methods chosen to ensure effective learning, to reinforce understanding, to develop practical skills and to promote the critical evaluation of information. Interest is maintained throughout each session using a variety of formats, including:
- Real world Oil & Gas case studies demonstrating the practical application of each topic
- Illustrative extracts from Oil & Gas companies
- Discussion of relevant issues raised by participants
- Illustrated presentations of Oil & Gas budget issues focusing recent events and strategic issues facing companies today
TRAINING SUMMARY
This EuroMaTech Budgeting & Cost Control for the Oil & Gas Industry training course provides the essential knowledge and skills to enable delegates to successfully control costs; prepare, manage and control budgets effectively in the Oil & Gas industry. Knowledge and skills, vital for an industry which currently faces severe pressure on Gross Margins due to oil price volatility and fluctuations in demand. The programme also highlights the latest innovative hedging strategies used by leading international companies. >Explore: Finance & Budgeting Training Courses
TRAINING OUTLINE
Day 1: The Case for Budgeting & Cost Control in the Oil & Gas Industry
- Oil Price Volatility – The Causes & Impact
- Major Costs of Acquisition, Exploration, Production and Development
- Cost Oil and Profit Oil
- The Cost Curve of the Oil Market
- Controlling Gross Margins and Net Margins
- Managing National Fiscal Budgets
Day 2: Finding Strategic Solutions to Cost Control
- Re-assessing the Strategic Plan in the light of recent developments
- The need for Growth whilst managing costs
- Managing Working Capital and Cash Flow
- Evaluating and Managing Capital Projects
- Joint ventures; Merger and Acquisition as a solution and growth opportunity
- Finance solutions to growing costs and oil price volatility
Day 3: Measuring & Controlling Costs
- Cost Classification and Cost Behaviour
- Job Process Costing, Batch Costing & Activity Based Costing
- Statistical Estimates of Costs
- Controlling Fixed and Variable Costs
- Earned Value Management
- Variance Analysis
Day 4: Budgeting in the Oil & Gas Industry
- The Benefits and Limitations of Budgeting
- The Essential Features and Types of Budgets
- Preparing Forecasts and Budgets in a volatile Oil & Gas industry
- Using Budgets as a Management Tool
- Sensitivity, What-if and Break-Even, Analysis
- Managing and Controlling Budgets
Day 5: Hedging Costs to Manage the Budget
- Defining Hedging and Identifying Costs / Risks to Hedge
- Determining the Hedging Strategy
- Hedging Oil Price Volatility
- Hedging Exchange Rate Risk
- Hedging Interest Rate Risk
- Controlling the Hedge to avoid Speculation
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
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FAQ
What makes EuroMaTech a leader in professional training?
EuroMaTech stands out as a leader in training and professional development due to:
- 30+ years of experience delivering high-impact training courses across industries.
- Accreditations from leading institutions, ensuring top-tier course quality and recognition.
- A portfolio of thousands of training courses, serving professionals at every level.
- A focus on innovation and future-ready learning models, including blended and digital training.
- Long-term partnerships with organizations globally, ensuring sustained success through talent development.
How can I register for a EuroMaTech training course?
To register for a training course, you can:
- Visit the EuroMaTech website, browse the available courses, and follow the online registration process.
- Contact EuroMaTech’s support team for assistance with course selection or inquiries about corporate training solutions.
Does EuroMaTech offer international training courses?
Yes, EuroMaTech delivers training courses in major cities worldwide, including locations across Europe, Asia, Africa, and the Middle East, in addition to its extensive presence in Dubai.
Where are EuroMaTech’s training courses held?
EuroMaTech conducts its training courses at prestigious venues across Dubai and other major international cities. Additionally, virtual training options are available, allowing participants to join courses remotely from anywhere in the world.
What ISO training courses does EuroMaTech offer?
EuroMaTech provides a range of ISO certification and compliance training courses, including:
- ISO 9001 – Quality Management Systems Training
- ISO 45001 – Occupational Health & Safety Management Training
- ISO 14001 – Environmental Management Systems Training
These courses help organizations adopt internationally recognized standards and improve their overall performance.
How does EuroMaTech ensure the quality of its training courses?
EuroMaTech ensures the highest standards by:
- Partnering with globally recognized accrediting bodies such as ILM, CPD, PMI, NEBOSH, and HRCI.
- Designing training courses with a focus on practical, real-world applications.
- Using experienced instructors with industry expertise.
- Continuously updating course content to reflect current trends and best practices.
Does EuroMaTech provide customized corporate training courses?
Yes, EuroMaTech specializes in tailored corporate training courses designed to meet the unique needs of organizations. These customized courses are ideal for businesses seeking to upskill teams across different departments or regions.
How many professionals have attended EuroMaTech’s training courses?
EuroMaTech has successfully delivered thousands of training courses, with thousands of professionals from over 50 countries attending annually.
What industries does EuroMaTech serve through its training courses?
EuroMaTech provides specialized training courses for a wide range of industries, including:
- Oil & Gas
- Energy & Power
- Construction & Infrastructure
- Banking & Finance
- Healthcare
- Telecommunications
- Logistics & Supply Chain
- Aviation & Aerospace
- Government & Public Sector
- Hospitality & Tourism
- Information Technology & Cybersecurity
- Human Resources & Talent Management
Are EuroMaTech’s training courses accredited?
Yes, EuroMaTech’s training courses are accredited by globally recognized institutions, ensuring high-quality, internationally respected certifications. Key accreditations include:
- ILM (Institute of Leadership & Management)
- CPD (Continuing Professional Development Certification Service)
- PMI (Project Management Institute)
- NEBOSH (National Examination Board in Occupational Safety and Health)
- HRCI (Human Resource Certification Institute)
What types of training courses does EuroMaTech offer?
EuroMaTech offers a diverse portfolio of training courses designed to meet the needs of professionals at all levels. These include:
- Leadership & Management Development Training
- Technical & Engineering Training Courses
- Project & Risk Management Training
- Health, Safety & Environmental (HSE) Training
- Finance & Accounting Training Courses
- ISO Compliance & Certification Training
- Human Resources & Talent Management Training
- Soft Skills & Communication Training Courses
Do you provide assistance with hotel accommodation?
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
Do you offer customized training for organizations?
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at inhouse@euromatech.com
What types of training formats do you offer?
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Can you assist with visa arrangements?
Yes, we can help by issuing an official Letter of Invitation once you’ve confirmed your training registration, which can assist in your visa application process.
Who will be the senior consultant leading the training?
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us info@euromatech.com
