GD650 – Oil & Gas Finance, Accounting and Green Management
Master in Business Administration
Core Course
GD650 – Oil & Gas Finance, Accounting and Green Management
Course Unit Code: GD650
Type Of Unit: Elective
Level of Course Unit: Second cycle
Year of Study: First/second year
Semester: On demand
Number of ECTS Credits: 6
Class Contact Hours: 28
Mode of Delivery
Face to Face
Prerequisites
None
Course Objectives
The objective of this course is to provide students with in-depth knowledge of financial & accounting aspects of Oil and Gas (O&G) exploration and production and to equip them with critical knowledge on green management, costing and taxation in the oil and gas sector while considering the economics of oil and gas markets, oil and gas policies and regulatory framework as well as the national and international business environment. Through their lifecycle, oil and gas operations intersect the entire ecosystem including water, soil, air and the human environment. Leveraging best management practices at every phase helps keep operations profitable and sustainable while mitigating damage to the natural environment that may negatively impact operations in the future. Part of this course focuses on best management practices for exploration and production sites and pipelines, the impact and regulation of oil spills, solids disposal and monitoring, emissions and gas flaring, Learning throughout the course will be reinforced by case studies, worked examples, and illustrative extracts from oil and gas company annual reports.
Learning Outcomes
- Critically assess concepts and principles underlining the operation of O&G markets and apply the green management principles to oil and gas exploration and production.
- Identify the unique features of O&G exploration and production activities and critically evaluate the use of historical cost methods, depreciation, depletion and amortization methods, and asset impairment considerations that underpin the preparation of accounts for oil and gas exploration and production companies.
- Analyze and appraise alternative O&G investments and projects using financial data, valuation models, risk considerations and relevant non-financial information for viability.
- Evaluate the implications of alternative project financing arrangements and risk management.
- Explain the financial information disclosed in the annual report and accounts of O&G companies and provide sound rationale and clearly communicate to relevant stakeholders the basis for accounting, reporting and disclosure, operational considerations, financial implications, etc.
- Analyze the environmental risks from O&G operations and propose strategies for integrating environmental considerations.
- Demonstrate how environmental challenges and green management can lead to cost savings and greater profitability for O&G companies.
Course Content
Course Features
Planned learning activities and teaching methods
Lectures; in-class discussion and debates; in-class exercises; problem sets; team work; video case studies, team presentations, interactive online learning via Moodle (quizzes, assignments, forums)
Assessment methods and criteria
20% Class Participation
80% Final Exam/Assignment
Instruction Language
English
Work placement(s)
Not applicable
Readings
Recommended or required reading
1. Wright, C. J., 2016. Fundamentals of Oil and Gas Accounting. 6th ed. Tulsa, OK: PennWell
2. Simkins, B. J. & Simkins, R. E., 2013. Energy finance and economics: analysis and valuation, risk management, and the future of energy. Hoboken: John Wiley. ebook
3. Antill, N. & Arnott, R., 2000. Valuing oil and gas companies: a guide to the assessment and evaluation of assets, performance and prospects. 2nd ed. Sawston: Woodhead, Publishing Ltd.
4. Jahn, F., Cook, M. and Graham, M., 2008. Hydrocarbon exploration and production. 2nd ed. Amsterdam: Elsevier.
5. The Oil and Gas Industry in Energy Transitions, World Energy Outlook special report, January 2020 https://www.iea.org/reports/the-oil-and-gas-industry-in-energy-transitions
6. Islam, M. R., Chhetri A. B. & Khan M. M. Green Petroleum: How Oil and Gas Can Be Environmentally Sustainable
7. Oil and gas going green: Can environmental challenges lead to cost savings and greater profitability? R&D Solutions for Oil and Gas, WHITE PAPER
https://www.elsevier.com/ data/assets/pdf_file/0020/521543/Oil-and-gas-going-green.pdf
8. E-Books: Environmental management in oil and gas exploration and production, UNEP Technical Publication
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