Oil & Gas industry | Financial TimesOur site navigation is changing. Read about the latest changes. Accounting for the extractive industries is a specialist area that requires expertise and an understanding of the business. On this page you can access a range of articles, books and online resources providing quick links to practical guidance and background information, including the Statement of Recommended Practice: Accounting for Oil and Gas Exploration, Development, Production and Decommissioning Activities. It states that the SORP will no longer apply to any entity for accounting periods beginning on or after 1 January
Accounting for the oil, gas and mining industries
Operating Expenses, Cash Flow, Finding and Development Costs, Return on Capital Employed are but a few of the hundreds of measurements and metrics used to analyze performance in the oil and gas industry. From individual wells to entire portfolios, performance analysis is used to make decisions throughout an organization. Unfortunately, performance analysis is generally conducted in the higher echelons of an oil and gas company, and thus its value in creating actionable information at the field level is generally lost. This book seeks to bridge this gap by introducing the basic concepts of oil and gas performance analysis. Features and Benefits. In these roles, Mr.
Russian brawl: Russian oligarch Vladimir Yevtushenkov falls from grace, again. Data drilling: Oil struggles to enter the digital age. The oil boyar: Igor Sechin, head of Rosneft, is powerful as never before. Russian oil king, former aide to Vladimir Putin, and friend of Rex Tillerson. An Ivan for an Igor: Glencore stuns the oil-trading business with a deal to take a big stake in Rosneft.
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Aberdeen Business School. The course will develop your practical problem-solving, analytical financial modelling and essential transferrable skills in the financial risks and rewards of oil and gas investments within relevant accounting, regulatory and policy guidelines. It offers a mastery of the accounting for and financial management of the unique arrangements and transactions encountered in the oil and gas industry. The first stage of the course will provide you with a broad context for understanding corporate accounting and finance considerations, including quantitative techniques and foundational elements of finance and an appreciation of the economics of the oil and gas industry. You will be able to provide sound rationale and clearly communicate to relevant stakeholders the basis for accounting reporting and disclosure, operational considerations and theoretical formulations and applications of finance concepts. You will develop models and financial risk management strategies in the oil and gas industry.
We will also touch on diversified , or integrated major , companies, such as Exxon Mobil since you can learn a lot about other segments by analyzing them. You might assume a modest increase over that number, especially if the company is spending a lot on finding new resources. And then you deduct this production from their reserves… and hopefully replace it with sufficient CapEx spending, linking the dollar amount of that spending to a specific amount of reserves. Expenses are more involved because you have both production-linked expenses — which you estimate on a dollar per barrel of oil or per cubic foot of gas basis — and then non-production-linked expenses , such as stock-based compensation and smaller, miscellaneous items. Here are the typical items:.
There has always been a bit of magic in the stock market, especially when it comes to oil companies. When the oil industry and the stock market get together, the affair is usually dynamic and not always pleasant. Basic principles are widely understood in the financial industry, but the terminology and analytical techniques can vary greatly. This book is written for the nonfinancial shareholders, managers, and oil company employees interested in the forces that influence stock values. The bottom line in any company is expressed in the language of finance. This book explains financial concepts in a nontechnical, practical way so that nonfinancial professionals and others may understand and appreciate this aspect of the business.