Budgeting, Cost Control and Cost Reduction Techniques in Major Oil and Gas Company
Date | Format | Duration | Fees (GBP) | Register |
---|---|---|---|---|
20 Jan - 24 Jan, 2025 | Live Online | 5 Days | £2850 | Register → |
17 Feb - 21 Feb, 2025 | Live Online | 5 Days | £2850 | Register → |
07 Apr - 11 Apr, 2025 | Live Online | 5 Days | £2850 | Register → |
04 Jun - 06 Jun, 2025 | Live Online | 3 Days | £1975 | Register → |
23 Jul - 25 Jul, 2025 | Live Online | 3 Days | £1975 | Register → |
13 Aug - 15 Aug, 2025 | Live Online | 3 Days | £1975 | Register → |
15 Sep - 17 Sep, 2025 | Live Online | 3 Days | £1975 | Register → |
27 Oct - 07 Nov, 2025 | Live Online | 10 Days | £5825 | Register → |
24 Nov - 28 Nov, 2025 | Live Online | 5 Days | £2850 | Register → |
15 Dec - 19 Dec, 2025 | Live Online | 5 Days | £2850 | Register → |
Date | Venue | Duration | Fees (GBP) | Register |
---|---|---|---|---|
13 Jan - 17 Jan, 2025 | Tbilisi | 5 Days | £4750 | Register → |
05 Feb - 07 Feb, 2025 | Dubai | 3 Days | £3375 | Register → |
03 Mar - 07 Mar, 2025 | London | 5 Days | £4750 | Register → |
14 Apr - 25 Apr, 2025 | Nairobi | 10 Days | £8350 | Register → |
19 May - 23 May, 2025 | London | 5 Days | £4750 | Register → |
04 Jun - 06 Jun, 2025 | New York | 3 Days | £4125 | Register → |
21 Jul - 25 Jul, 2025 | London | 5 Days | £4750 | Register → |
18 Aug - 05 Sep, 2025 | Kuala Lumpur | 15 Days | £10400 | Register → |
08 Sep - 12 Sep, 2025 | London | 5 Days | £4750 | Register → |
15 Oct - 17 Oct, 2025 | Cape Town | 3 Days | £3525 | Register → |
03 Nov - 07 Nov, 2025 | London | 5 Days | £4750 | Register → |
22 Dec - 02 Jan, 2026 | Toronto | 10 Days | £9925 | Register → |
Why Select this Training Course?
The oil and gas sector will confront more significant technological, administrative, and organizational problems as the global shift toward renewable energy. Among the most difficult challenges is developing a systematic approach to budgeting. Many oil and gas businesses still use antiquated budgeting methods and tools while confronting enormous financial and operational constraints. That’s why it takes so much time and energy to create a budget. The market cannot support this method for much longer. Because of this, the Oil & Gas industry needs to keep up with the newest forms of cost management and budgeting, which are less labor-intensive and better coordinated.
What are some issues in cost management in Oil and Gas companies?
Some of the challenges that the oil and gas companies face in cost control include budget forecasting, managing changes in the project, inaccurate reports, inefficient systems and processes, and applying price control measures ineffectively.
What are the methods of cost control prevalent in the Oil and Gas sector?
Some of the techniques in cost control in the oil and gas companies include using change control techniques, tracking earned value, panning the budget property, monitoring all the expenses using the checkpoints, and using change control systems.
Participants in Rcademy’s course on Budgeting, Cost Control, and Cost Reduction Techniques for Major Oil and Gas Companies will learn how to save their managers money without compromising the company’s viability. This Rcademy program will expose learners to cutting-edge techniques developed by a wide range of Oil & Gas industry organizations. Participants will leave the course with the skills they need to find and implement cost-cutting measures that won’t compromise performance, strategy, safety, or timeliness. Course attendees will have a more profound familiarity with the oil and gas business and be better equipped to deal with its many issues due to this training.
Who Should Attend?
Budgeting, Cost Control, and Cost Reduction Techniques for Major Oil and Gas Company training course by Rcademy are ideal for:
- Finance managers
- Oil and Gas professionals
- Policymakers
- Financial strategists and planners in the Oil and Gas sector
- Professional engineers
- Budget holders
- Project leaders and team members
What are the Course Objectives?
The objectives of the Budgeting, Cost Control, and Cost Reduction Techniques for Major Oil and Gas Company training course by Rcademy are to enable professionals to:
- Learn how to manage costs effectively
- Understand budgeting challenges prevalent in Oil and Gas operations
- Determine efficient ways for budget planning and preparation for Oil and Gas companies
- Determine the opportunities for price reduction
- Understand methods of project appraisal
- Learn how to make use of the costs, forecasting, and plans
- Learn how to manage expenses with projects
How will this Course be Presented?
The Budgeting Cost Control and Cost Reduction Techniques in Oil and Gas Company training course at Rcademy use learning methods managed by highly skilled experts who deliver the information well using researched and proven methodologies.
The participants in this course will use case studies, quizzes, assessments, discussions, and actual work examples to learn the vital concepts. This Rcademy course will use real-life examples and engaging case studies to deliver the message to the attendees. The training methodology in this Rcademy course comprises:
- Interactive sessions and problem-solving
- Illustrations
- Presentations
- Case studies
- Group Exercises and management games
What is the Topic Covered in this Course?
Module 1: Profit, Cost, Cash, and Risk
- Profit and costs
– Goals-vision and mission-current profit and future profit
– Cost management and methods
– Strategy and how it controls cost control strategy and decisions
– Revenue vs value/ value-focused models - Risks and cost
– Overview of threats
– Risk and cost - Cash and costs
– Cost-money and non-cash
– Profit and cash
– Capital cost/ controlling of revenue cost
– Cost control vs cash management/ revenue vs capital managing
Module 2: Planning and Forecasting Risk/Costs
- Value engineering methods applied to OPEX and the expert incentives
- OPEX arrangement models
- Meaning of risk
- Cost planning and evaluation
- Modeling profits, costs, and risks
- OPEX planning and performance assessment
- OPEX long-term forecasting
- Forecasting methods and tools
Module 3: Costing and Costs
- Understanding and operating with costs
- Value vs Cost
- Plan for reduction of cost and profit increase
- Fixed and variable cost income statements
- Plan for profit improvement and cost reduction
- New concepts in cost control- big data/ lean principles
- Contribution margin/ break-even evaluation
- Costing methods-complete absorption, marginal
- Gas and oil challenges
Module 4: Cost Control and Budgeting
- The responsibility of budgeting
- The budgeting activity
- Yearly budgeting activity
- Various budgeting models used currently
- Beyond budgeting
- Variance evaluation
- Budgeting techniques and tips
- Recognizing and resolving the budget variance
Module 5: Investment Projects and Appraisals-Capital Budgeting
- CAPEX planning methods
- Developing cash flow techniques for decision making
- Aspects used to assess the efficiency of CAPEX projects, yearly investment programs
- Applying time and modification of the measures- the time value of money
- The importance of options and flexibility
- Scenario analysis, sensitivity evaluation, simulation, Monte Carlo evaluation
- Addressing risks and shifting situations
- The importance of options and flexibility
- CAPEX planning in oil businesses
Module 6: The Case of Cost Control and Budgeting in the Oil and Gas Industry
- The significant acquisition prices, production, exploration, and growth of the profit of oil and cost of oil
- Oil cost volatility- the impact and causes
- The price graph of the oil market
- Managing net margins and gross margins
- Controlling national economic budgets
- The price curve in the oil industry
Module 7: Controlling and Measuring Costs
- Statistical estimates of the prices
- Cost behavior and cost classification
- Earned value control
- Management of fixed and variable prices
- Job activity costing, batch pricing, and activity-based pricing
- Variance evaluation
Module 8: Determining the Method Solution to Cost Management
- The requirement for development while controlling prices
- Re-evaluating the strategic plan according to the current developments
- Combined ventures: acquisitions, and mergers as growth and solution option
- Managing and evaluating capital projects
- Finance solutions to the developing costs and oil prices volatility
Module 9: Hedging Costs to Control the Budget
- Hedging interest rate threat
- Hedging exchange rate threat
- Hedging oil cost volatility
- Knowing the hedging models
- Meaning of hedging and recognizing the risks/costs of hedging
- Managing the hedge to prevent speculation