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Fundamentals of Petroleum Economics

The A to Z of upstream, midstream and downstream in the oil and gas industry - training course by tutored distance learning

Commences: 4th April 2017

Petroleum economics is one of the most influential players in the world economy, so having a comprehensive understanding of this vital area is key for anyone working within the oil and gas or energy industries.

The Fundamentals of Petroleum Economics is the ideal course for both individuals and corporate groups to develop this crucial knowledge.

Hear more about the why you should study this fantastic programme from the Course Director


  • Gain a thorough, practical introduction to the techniques used within the petroleum industry to value projects, assets and companies
  • Practice your own valuations or critically review those produced by others
  • Develop your knowledge of general discounted cash flow principles
  • Analyse the more sophisticated simulation and real options approaches
  • Address the issues specific to the oil and gas industry such as fiscal systems, risk analysis and competitive bidding
  • Understand how to answer questions such as “How will it work?”, “What is the cost?” and “What is the return/profit?"

View course content

Qualification: IBC Academy Professional Development Certificate
Start date: 9th March 2016
Delivery: Part-time Tutored Distance Learning
Duration: 12 weeks
Fees: £1,549 / US$2169 + VAT if applicable. 10% discount for early enrolment. Take a closer look at fees
CPD/CEUs: 21 hours / 2.1 CEUs

This is an excellent course for anyone that wishes to understand economics in the Petroleum Industry. The course is filled with examples that are easy to understand, references for further reading and the examples are current and relevant in whichever country you work"

Ezra Wanzira,

Tullow Uganda Operations Pty Ltd

The programme is designed for a wide range of professional skill sets, including: economists, analysts, engineers, geoscientists, asset managers, accountants, negotiators, lawyers, financiers and decision-makers.

While some previous knowledge of the petroleum industry would be beneficial, it is by no means essential as the material is designed for a multi-disciplined audience, and each topic builds from a basic introduction assuming little or no prior knowledge.

David A. Wood PhD

Dr. David Wood has more than thirty years of international oil and gas experience spanning technical and commercial exploration and production operations, midstream and downstream projects, contract evaluation and senior corporate management.

His early experience includes Phillips Petroleum, Amoco (Africa, Europe and UK), Lundin Oil (South America, Africa, Middle and Far East) and several smaller international companies.

Delivered by online tutored distance learning, this programme allows you to study and gain knowledge without disrupting your normal work

You will have access to all course materials, expert tutorial support and peer networking using our online learning management system.

Each module ends with an online test so you can check your understanding of the content.

More about our distance learning

Distance learning, face-to-face workshops, webinars, elearning and blended delivery to match your requirements

We welcome companies placing individual students or groups on any of our publicly advertised distance learning courses, or for larger corporate groups we will deliver to your individual requirements, including instructor lead training, blended delivery solutions, customised assessments, flexible time-scales and dedicated support for learning and development managers.

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The knowledge I have gained from this course will help to conduct a better analysis of the oil sector, as well as maximise the economic benefits from Oil"

Wilson Asiimwe, 

Ministry of Finance

Ready to apply?

Do not delay your application – you may qualify for an early enrolment discount, and some courses have a maximum number of participants. Our online application form securely accepts payment by credit card in either £, $ or €, or we will invoice you or your employer for payment by bank transfer.

Apply online here

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