Certificate in Oil and Gas Taxation Course

Why Select this Training Course?

The country’s oil and gas reserves are significant. Therefore, the prosperity of the nation’s economy owes a great deal to the oil and gas sector. While having access to plentiful oil and gas supplies is certainly advantageous, it does not guarantee a country’s success or prominence on the global stage. Conversely, a country’s or organization’s potential for success is influenced by its ability to successfully extract, mine, process, and deliver these resources to areas with strong demand. Accidents and dangers are likely to occur in this workplace. Therefore, the many parts involved in the extraction and production of oil and gas must be carefully attended to.

The Oil and Gas Taxation Certificate by Rcademy is a great way to introduce O&G professionals to the many facets of corporate taxes, including strategic planning, cash management, corporate finance, and risk analysis. The responsibility of taxes is not systematically emphasized in most basic taxation courses, although they might provide an analysis of the factors that affect an organization’s decision-making. Furthermore, standard tax accounting programs overlook the complex context in which the tax element operates.

What is the name given to the tax imposed on oil extraction?

The tax imposed on oil extraction is called severance taxes, which focus on extracting, manufacturing, and selling natural gas and oil.

What are the excess intangible drilling costs of Oil and Gas?

The intangible drilling costs are the prices associated with the drilling needed to plan wells for manufacturing. However, they do not have a salvageable value. These are the costs incurred for the fuels, wages, suppliers, survey work, and ground clearing and comprise about 60%-80% of the overall drilling expenses.

Rcademy’s Certificate in Oil and Gas Taxation Course is designed to give learners a firm grasp of the fundamentals of the taxation of the gas and oil industries. Individuals who take this course will get the skills and competencies necessary to pursue various careers in the oil and gas sector. This Rcademy oil and gas taxation course attempts to fill the void by providing a blueprint for recognizing tax planning opportunities and putting the fundamental laws of tax models into practice. To help learners connect the basic concepts and their specific fields of training, the course blends theoretical knowledge and insights into the taxation function with practical case study examples. This course seeks to provide an in-depth understanding of the unit’s technical issues and the policy difficulties related to taxes by using an interdisciplinary approach to studying tax from the perspective of the oil and gas sector.

Who Should Attend?

The Certificate in Oil and Gas Taxation Course by Rcademy is ideal for:

• Oil and Gas Professionals
• Chief Financial Officers
• Finance Directors
• Finance Controllers
• Finance Professionals
• Content Investors in the oil and gas industry
• Legal and Taxation Advisers
• Internal and External Auditors
• Vendors and Suppliers
• Corporate treasurers

What are the Course Objectives?

The objectives of The Certificate in Oil and Gas Taxation Course by Rcademy are to enable professionals to:

• Understand the national and local government services and infrastructure
• Understand the tax framework in Oil and Gas companies
• Understand various ways of ethical tax saving and planning
• Determine how to create the best practices for tax management
• Understand the essential functions of taxation
• Understand the fundamental concepts of tax management

How will this Course be Presented?

The Certificate in Oil and Gas Taxation Course by Rcademy uses diverse learning methods to ensure that the participants have the right skills for professional growth. This Rcademy course gets delivered using various methods such as:

• Use of case studies
• Interactive sessions and Group Discussions
• Problem-solving
• Management Games
• Peer-to-Peer learning

At the end of the program, there will be a final valuation of the attendee’s knowledge and skills.

What are the Topics Covered in this Course?

Module 1: Tax Structure

• A particular goal of the taxation structure
• Tax policy
• Control and measurement of treasury
• Tax organization
• Aspects and design of taxation

Module 2: Knowing Taxation

• Types of tax
• What qualifies as a tax?
• Various methods to evaluate tax
• Categories of tax
• The alternative tax systems

Module 3: Oil and Gas Industry Primary Resources

• Natural gases
• Crude oil
• Condensates

Module 4: Oil and Gas Industry Activities of the Midstream Sector

• Storage
• Distribution
• Marketing
• Fractionation
• Processing

Module 5: Oil and Gas Industry Processes in the Upstream Sector

• Drilling
• Exploration
• Production

Module 6: Oil and Gas Utility Systems

• Water systems
• Telecom
• Chemical and additives
• The atmosphere and flare ventilation
• Power generation, driver, and distribution
• Digital oilfield
• Control system process

Module 7: Oil and Gas Industry Activities in the Downstream Sector

• Trading and Supply
• Oil refining
• Product marketing (retail and wholesale)

Module 8: Significant Issues that Face the Oil and Gas Industry

• Increased performance to promote asset valorization
• Lowering prices to continue being competitive
• Increased environmental footprint to attain the strict standards

Module 9: Risk Control in the Oil and Gas Industry

• Identification of the different types of risks (financial, non-financial, internal, and external)
• Assessing the risk
• Understanding the industry

Module 10: Reporting and Auditing

• The audit board and committee
• Legal Requirements
• Creation of the strategy for organization growth and stability
• Roles and duties of the audit board and committee

Module 11: Various Types of Taxation

• Value-added tax
• Income tax
• Income vs taxable income
• Corporation tax
• Deferred tax and timing difference
• Exercise and customs duty