An Interactive 5-Day Training Course
Upstream Budget Practice
The Best Practices and Techniques of Budgeting
and Cost Control in Upstream Oil and Gas
Course Overview
The upstream oil and gas industry will face increasingly difficult technological, operational, and organizational issues as the globe shifts more and more toward renewable energy. One of the most difficult is to have a simplified budgeting procedure. This raises additional concerns regarding the efficiency of conventional budgeting techniques used by oil and gas industries generally as well as normal budgeting-related difficulties that businesses could experience.
This GLOMACS Upstream Budget Practice training course will walk you through the most crucial tasks an Upstream oil and gas business must do. Delegates will gain insights about how and why the economic landscape influences the choices and techniques of budgetary control and management.
This Upstream Budget Practice training course will highlight:
- Sensitivity; What-if & Break-Even; Analysis
- Earned Value Management
- Cost-Volume-Profit (CVP) Analysis
- Activity Based Budgeting (ABB)
- Zero based budgets
Training Objectives
At the end of this Upstream Budget Practice training course, you will learn to:
- Appreciate the impact of oil price volatility on Upstream Oil profitability and Budgets
- Propose appropriate solutions to budget issues and cost control
- Prepare, control, and manage budgets in the oil and gas industry
- Analyze key differences and uses of the main budgeting techniques
- Understand and appreciate different hedging strategies used by Leading Upstream companies to mitigate risk and manage budget
Who should Attend?
This Upstream Budget Practice training course is essential for many professionals but especially for managers with financial responsibility for departments or projects or those who are involved in the analysis of costs to support decisions within the business.
This GLOMACS Upstream Budget Practice training course is suitable for a wide range of professionals but will greatly benefit:
- Finance Managers
- Cost accountants
- Budget Managers
- Project Managers
- Professional Engineers
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
Training Outline
DAY 1: Macro Analysis of Upstream Oil & Gas
- Analyzing the Upstream Price Volatility
- Cost and Growth Strategies in Upstream Oil & Gas: Acquisition, Exploration, Production, & Development
- Interpreting the Cost Curve of Crude Oil
- National Fiscal Budgets and Crude Oil
- Controlling Margins in Upstream Oil & Gas
DAY 2: Strategic Cost Control in Oil & Gas
- Recent Developments in Upstream Oil & Gas: The Need to Grow While Managing Costs
- Managing Working Capital & Cash Flow
- Evaluating & Managing Capital Budgeting
- Sensitivity; What-if & Break-Even; Analysis
- Earned Value Management
DAY 3: Budgeting in Upstream Oil & Gas
- What is Budgeting? Benefits, Limitation & Types
- Budget Preparation: An Overview
- JV Budgets vs Corporate Budgets
- Operated vs Non-Operated Budgets
- Budget Analysis: ABB, Traditional, Incremental, and zero-based budgeting
DAY 4: Budgetary Control in Upstream Oil & Gas
- Upstream Oil & Gas Administration and Budget control
- Financial Control Systems: The Internal vs External Controls
- Budgetary Control:
- Variance Analysis,
- Project Cost Production,
- Cost Reporting and Control
- Budget Implementation Procedures in Oil & Gas
- Performance Bench Marking and Performance Measurement
DAY 5: Hedging Strategies & Budgeting
- What is Hedging? Cost & Risk
- Identifying Hedging Strategies in Oil and Gas
- Hedging Tools to Mitigate Crude Oil Volatility
- Hedging Exchange Rate Exposure
- Interest Rate Risk and Hedging Instruments
- Hedging vs Speculation
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA 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.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
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