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Upstream Budget Practice

An Interactive 5-Day Training Course

Upstream Budget Practice

The Best Practices and Techniques of Budgetingand Cost Control in Upstream Oil and Gas

NASBA
Classroom Schedule
Date Venue Fees
09 - 13 Nov 2026 London $ 5,950

Course Summary

The upstream oil and gas industry will face increasingly difficult technological, operational, and organizational issues as the globe shifts more and more toward renewable energy. One of the most difficult is to have a simplified budgeting procedure. This raises additional concerns regarding the efficiency of conventional budgeting techniques used by oil and gas industries generally as well as normal budgeting-related difficulties that businesses could experience.

This GLOMACS Upstream Budget Practice training course will walk you through the most crucial tasks an Upstream oil and gas business must do. Delegates will gain insights about how and why the economic landscape influences the choices and techniques of budgetary control and management.

This Upstream Budget Practice training course will highlight:

  • Sensitivity, What-if & Break-Even, Analysis
  • Earned Value Management
  • Cost-Volume-Profit (CVP) Analysis
  • Activity Based Budgeting (ABB)
  • Zero based budgets
Course Outline
Day 1

Macro Analysis of Upstream Oil & Gas

  • Analyzing the Upstream Price Volatility
  • Cost and Growth Strategies in Upstream Oil & Gas: Acquisition, Exploration, Production, & Development
  • Interpreting the Cost Curve of Crude Oil
  • National Fiscal Budgets and Crude Oil
  • Controlling Margins in Upstream Oil & Gas
Day 2

Strategic Cost Control in Oil & Gas

  • Recent Developments in Upstream Oil & Gas: The Need to Grow While Managing Costs
  • Managing Working Capital & Cash Flow
  • Evaluating & Managing Capital Budgeting
  • Sensitivity, What-if & Break-Even, Analysis
  • Earned Value Management
Day 3

Budgeting in Upstream Oil & Gas

  • What is Budgeting? Benefits, Limitation & Types
  • Budget Preparation:  An Overview
  • JV Budgets vs Corporate Budgets
  • Operated vs Non-Operated Budgets
  • Budget Analysis: ABB, Traditional, Incremental, and zero-based budgeting
Day 4

Budgetary Control in Upstream Oil & Gas

  • Upstream Oil & Gas Administration and Budget control
  • Financial Control Systems: The Internal vs External Controls
  • Budgetary Control:
    • Variance Analysis,
    • Project Cost Production,
    • Cost Reporting and Control
  • Budget Implementation Procedures in Oil & Gas
  • Performance Bench Marking and Performance Measurement
Day 5

Hedging Strategies & Budgeting

  • What is Hedging? Cost & Risk
  • Identifying Hedging Strategies in Oil and Gas
  • Hedging Tools to Mitigate Crude Oil Volatility
  • Hedging Exchange Rate Exposure
  • Interest Rate Risk and Hedging Instruments
  • Hedging vs Speculation
Certificates
  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates.
  • Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.
Providers and Associations

Endorsed Education Provider

NASBA

In Association With

Options & Brochure
Related Categories
Finance & Budgeting

Why Choose Saudi GLOMACS?

Saudi GLOMACS is the official Saudi Arabian division of GLOMACS International (glomacs.com), delivering internationally recognised training courses both within Saudi Arabia and across international locations. Our training courses are aligned with the highest professional and institutional standards, supported by a strong understanding of the professional landscape in Saudi Arabia and access to global expertise.

Saudi GLOMACS enables professionals and organisations to strengthen leadership, capability, and long-term excellence through consistently high-quality learning experiences.

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Official Saudi Arabian division of GLOMACS with established global credibility.

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Internationally benchmarked training courses aligned with professional best practices.

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Trusted by professionals and institutions across public and private sectors.

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Training courses delivered within Saudi Arabia and across international locations.

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No. Saudi GLOMACS delivers courses in Saudi Arabia and internationally, including delivery across Europe and Asia. This allows organisations and professionals to access training both locally and abroad.

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For further details or to discuss customisation requirements, you may call or WhatsApp +966 (54) 286 8546 or email [email protected] . You can also submit a detailed enquiry through our in-house training page at: https://sa.glomacs.com/in-house-seminars

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Courses delivered in Saudi Arabia are adapted to reflect local regulatory frameworks, organisational structures, sector conditions, and professional expectations. This ensures training is relevant, practical, and aligned with Saudi workplace realities.

GLOMACS has been delivering professional training for over thirty years, with courses delivered across Europe, the Middle East, Asia, and other international markets.

Saudi GLOMACS combines three decades of global training experience with a clear focus on Saudi market relevance. This allows it to deliver training that is both internationally credible and locally applicable, across a broader range of disciplines than niche or single-focus providers.

Saudi GLOMACS is a Saudi-based professional training provider delivering courses tailored to the Saudi market and applicable internationally. It operates within the global GLOMACS framework and draws on more than three decades of international training experience.

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