Oil Fundamentals in a Transitioning World

Introduction

This course is part of the Executive Master of Management in Energy in cooperation with BI Norwegian Business School and IFP School.

The history of petroleum is inseparable from that of the major oil companies (NOCs and IOCs) which formed and grew rapidly in order to seek, produce, transform, transport and sell oil and oil products. The understanding of the key components and the challenges of oil business will give the participants the ability to build their own vision on the future of oil industry and understand the key drivers of the energy transition for this industry.

Course content

The Global Energy Outlook

• Global energy production and consumption
• Future of Energy demand: constraints, challenges, opportunities
• Oil price, energy price: Influence of supply, demand, futures markets
• The actors of the energy scene
• International Energy agency (IEA) Conference: Debate with IEA Experts

Oil Exploration and Production:

• Key figures in Upstream (challenges & players) & New debates
• Oil Reserves, Investments and Costs
• Legal and Fiscal Aspects: Concession, Production Sharing Contract, Service Contract
• Crisis management in upstream

Downstream Techno-economics

• Oil refining, refining margins and costs components.
• Petrochemicals and their economic framework
• Maritime and Pipe-line transportation

Introduction to Trading & Risk Management:

• Oil pricing regime & Oil price formation
• Spot, forward & futures markets
• Hedging & risk assessment