Training on Petroleum Economics and Policy
Course Overview
Petroleum resources play a critical role in economic growth, public revenue generation, industrial development, energy security, and international trade. Sound petroleum economics and effective public policy enable governments to maximize resource value, attract investment, ensure energy affordability, manage revenue volatility, and promote sustainable development. As global energy markets evolve due to decarbonization, technological innovation, geopolitical developments, and changing investment patterns, policymakers and industry leaders require a strong understanding of petroleum economics to make informed strategic decisions.
This course equips participants with practical knowledge of petroleum economics, fiscal policy, and energy governance across the upstream, midstream, and downstream sectors. Participants learn how petroleum projects are evaluated, how governments design fiscal regimes, how oil and gas markets influence pricing and investment, how petroleum revenues contribute to national development, and how policy decisions affect competitiveness, energy security, and economic resilience. The course also explores petroleum taxation, production sharing contracts, concession systems, cost recovery, petroleum pricing, local content policies, sovereign wealth funds, energy transition strategies, Environmental, Social and Governance (ESG) considerations, and investment risk management.
Participants examine internationally recognized frameworks and best practices, including the Extractive Industries Transparency Initiative (EITI) Standard, Natural Resource Charter, International Energy Agency (IEA) policy guidance, International Monetary Fund (IMF) Fiscal Transparency Code, World Bank Extractives Global Programmatic Support (EGPS) guidance, OECD Guidelines for Multinational Enterprises on Responsible Business Conduct, United Nations Sustainable Development Goals (SDGs), and IFRS Sustainability Disclosure Standards. Through economic analysis, investment appraisal, fiscal modeling, petroleum pricing exercises, policy simulations, and real-world case studies, participants develop the expertise to formulate effective petroleum policies that balance economic growth, investment attractiveness, environmental sustainability, and national development objectives.
Duration
10 Days
Who Should Attend
- Ministry of Energy Officials
- Ministry of Finance Officials
- Ministry of Planning Officials
- Petroleum Regulatory Authority Officials
- National Oil Company Executives
- Petroleum Economists
- Energy Policy Advisors
- Fiscal Policy Analysts
- Public Financial Management Professionals
- Revenue Authority Officials
- Investment Promotion Officers
- Petroleum Lawyers
- Commercial and Contract Managers
- Energy Market Analysts
- Development Partner Professionals
- Parliamentarians and Legislative Committee Members
- Petroleum Consultants
- Researchers and Academics
- Financial Institution Professionals
- ESG and Sustainability Professionals
Course Impact
Individual Impact
- Strengthen petroleum economic analysis skills.
- Improve policy development capabilities.
- Evaluate petroleum investment decisions.
- Understand fiscal and commercial petroleum systems.
- Support strategic energy planning.
Organizational Impact
- Better petroleum policy formulation.
- Improved investment climate.
- Stronger fiscal governance.
- Enhanced revenue management.
- Better regulatory decision-making.
- Increased investor confidence.
- Improved energy security planning.
- Stronger institutional capacity.
- Sustainable management of petroleum resources.
Course Objectives
By the end of this course, participants will be able to:
- Understand petroleum economics across the oil and gas value chain.
- Analyze global petroleum markets and pricing mechanisms.
- Design effective petroleum fiscal policies and taxation systems.
- Evaluate petroleum investments using economic analysis tools.
- Assess production sharing contracts and concession systems.
- Strengthen petroleum revenue management.
- Develop policies that attract responsible investment.
- Integrate ESG and energy transition considerations into petroleum policy.
- Apply international best practices in petroleum governance.
- Develop evidence-based petroleum policies that support sustainable economic development.
Course Outline
Module 1: Introduction to Petroleum Economics
Topics
- Petroleum Industry Value Chain
- Principles of Petroleum Economics
- Supply, Demand, and Market Fundamentals
- Global Energy Markets
Practical Exercise: Analyze the economic drivers of petroleum supply and demand.
Case Study: Global oil price movements and their economic implications.
Module 2: Petroleum Markets and Pricing
Topics
- Crude Oil Pricing
- Natural Gas Markets
- Benchmark Pricing Systems
- Market Volatility
Practical Exercise: Assess the impact of global market events on petroleum prices.
Case Study: Oil price shocks and national economic performance.
Module 3: Petroleum Investment and Project Economics
Topics
- Capital Investment Analysis
- Cash Flow Modeling
- Net Present Value (NPV)
- Internal Rate of Return (IRR)
Practical Exercise: Evaluate the financial viability of a petroleum development project.
Case Study: Investment decision-making for offshore petroleum exploration.
Module 4: Fiscal Regimes and Revenue Management
Topics
- Petroleum Taxation
- Royalties and Bonuses
- Production Sharing Contracts
- Revenue Forecasting
Practical Exercise: Compare fiscal outcomes under different petroleum taxation systems.
Case Study: Designing competitive petroleum fiscal regimes.
Module 5: Petroleum Policy and Regulatory Frameworks
Topics
- Energy Policy Development
- Petroleum Governance
- Regulatory Institutions
- Licensing Systems
Practical Exercise: Evaluate a national petroleum policy.
Case Study: Reforming petroleum sector governance.
Module 6: National Oil Companies and Investment Strategies
Topics
- National Oil Companies
- International Oil Companies
- Joint Ventures
- Investment Promotion
Practical Exercise: Assess investment opportunities in a petroleum basin.
Case Study: Strategic partnerships between governments and investors.
Module 7: Revenue Management and Economic Development
Topics
- Sovereign Wealth Funds
- Fiscal Stabilization
- Economic Diversification
- Public Financial Management
Practical Exercise: Develop a petroleum revenue management strategy.
Case Study: Managing petroleum wealth for long-term development.
Module 8: Energy Transition and Sustainable Petroleum Policy
Topics
- Energy Transition
- Decarbonization
- ESG Integration
- Climate Policy
Practical Exercise: Assess the economic implications of energy transition policies.
Case Study: Balancing petroleum development with climate commitments.
Module 9: Risk Management and Future Petroleum Markets
Topics
- Commodity Price Risk
- Investment Risk
- Geopolitical Risk
- Scenario Planning
Practical Exercise: Conduct a petroleum market risk assessment.
Case Study: Managing uncertainty in global energy markets.
Module 10: Strategic Petroleum Policy and Capstone Project
Topics
- Integrated Energy Policy
- Petroleum Sector Reform
- Long-Term Economic Planning
- Future Trends in Energy Economics
Practical Exercise: Develop a national petroleum economics and policy framework that promotes investment, fiscal sustainability, and energy security.
Case Study: Building a resilient petroleum sector for long-term economic growth.
Prerequisites
Course Administration and Investment
Whether you join us in a physical boardroom or through our virtual campus, we’ve designed every administrative detail for a seamless, professional experience.
Our fees are all inclusive during course hours.
- Covered: High level tuition, comprehensive materials (digital + physical), mid morning and afternoon refreshments, a full executive lunch, and any scheduled study visits or site tours.
- Not covered: Travel, visa fees, medical/travel insurance, personal expenses, and accommodation.
From registration to the classroom, we keep things clear and efficient.
- Registration: Find your preferred schedule, click “Register,” complete the form, and submit. Need help? Talk to us directly.
- Pre Course Assessment: After registering, you’ll receive a diagnostic survey to help facilitators tailor content to your needs.
- Joining Instructions: Once fees are paid, you’ll receive a Delegate Welcome Pack at least 7 days before the start date (venue maps, virtual access links, and pre reading materials).
We provide premium environments optimized for adult learning and networking.
- Physical Venues: Premium 4 star and 5 star executive boardrooms across our global host cities, with high tier catering.
- Virtual Instructor Led Training (VILT): High definition, interactive platforms featuring breakout rooms, digital whiteboards, and live technical support.
- NITA and Regulatory Compliance: Administrative processes align with national training authorities.
You’ll leave with tools that extend the course value far beyond the final day.
- ForElite Learner Kit: A physical or digital course manual, proprietary templates, and a curated toolkit of industry standard SOPs.
- On Site / In App Support: Dedicated course coordinators handle technical, dietary, or logistical inquiries in real time.
We validate your commitment to excellence with internationally recognized credentials.
- Attendance Tracking: Rigorous daily logging to meet corporate and regulatory accreditation requirements.
- Verifiable Credentials: Upon successful completion, you receive a certificate of course completion.
Our relationship with you doesn’t end when the course closes.
- Feedback & ROI Reporting: Detailed post course evaluations to give sponsors clear insight into training impact.
- Alumni Network Access: Every delegate joins the ForElite Alumni Network for ongoing peer to peer learning and exclusive webinars.
When is the next intake?
UpdatedWe offer customized training solutions tailored to your organization's specific needs (location, dates, content and team size).
Talk to us and we’ll guide you on the best schedule and format for your team.
Training Methodology
We turn knowledge into results. Using our P.E.A.K. Framework (Prepare, Engage, Apply, Know), every participant leaves with practical skills they can use immediately.
Proven Impact
In the last 12 months, over 1,200 professionals have applied the P.E.A.K. Framework to reduce onboarding time by an average of 30% and accelerate project delivery across 14 industries.
The outcome: Participants don’t just learn. They gain the tools, confidence, and strategy to drive measurable impact.
Tailor-Made Training and Customization
Off-the-shelf solutions rarely fit perfectly. At ForElite Training Institute, we built our Tailor-Made Training (TMT) service to embed our expertise directly into your unique strategy, culture, and operations.
We replace generic examples with scenarios from your sector (e.g., public sector, NGOs, financial services, or logistics).
Choose a format that fits your operations: intensive 3 day bootcamps or weekly sessions that minimize work disruption.
We teach directly from your actual templates, brand guidelines, or financial reports.
Host your bespoke training in any of our 21+ global cities, or we'll send facilitators to your office anywhere in the world.
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