Cost Accounting and Cost Management in Oil Refineries

Finance & Accounting · 5 Days · Public · Al-Khobraa certified · From USD 3,900

Overview

With increased competition and volatility in prices, it is essential to manage costs effectively in the Oil Refinery sector in order to preserve profits, sustainability, and market share. Cost Management is one of the most effective and essential tools for planning and monitoring organizational activities, as well as supporting future strategic decisions. This course provides the essential knowledge and skills to enable delegates to successfully control costs; prepare, manage, and control budgets in the Oil Refinery sector.

Learning Objectives

• Determine the Costs associated with your department/company
• Assess and Manage Costs/Price Volatility
• Use the very latest Costing Methods
• Analyze Cost & Price Volatility to enable better decisions
• Control Costs effectively

Who Should Attend

This course is suitable for a wide range of professionals but will greatly benefit:

• Professionals
• Advisors
• Accountants
• Business consultants

Course Outline

Day 1 — The Essentials of Cost & Price Management in the Oil Refinery Sector

• Identification of the critical costs and key performance indicators in the oil refinery sector
• A detailed examination of the income statement for an oil refinery
• Calculation of the cost of sales for refinery products
• Cost & price volatility within the sector

Day 2 — Best Practice Costing Methods

• Best practice costing methods
• Job order, process costing & activity-based costing methods
• Cost and value analysis
• Cost control

Day 3 — Cost Management & Control

• Cost classification & cost Behaviour
• Controlling fixed & variable costs
• Reducing fixed costs
• Cost-Volume-Profit analysis

Day 4 — Hedging Costs & Risk Management

• Hedging techniques to control costs & prices
• Forwards, futures, options & swaps
• Defining risk management and identifying costs/risks to hedge (Reduce or Eliminate)
• Determining the hedging strategy

Day 5 — Managing Project & Contract Costs & Prices

• Achieving efficiency of time & quality within budget
• Statistical estimates of activity duration & costs
• Critical path analysis
• Manpower & resource planning and management

Accreditation

Al-Khobraa certified. On completion delegates receive an Al-Khobraa certificate of achievement.

Dates & Venues

Dates	Venue	Delivery	Duration	Fee (USD)
7–11 December 2026	Nairobi, Kenya	Public	5 days	4,500
13–17 December 2026	Istanbul, Turkey	Public	5 days	4,500

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Frequently Asked Questions

What do Al-Khobraa finance and accounting courses cover?

The portfolio covers IFRS (International Financial Reporting Standards) and IPSAS, financial analysis and reporting, budgeting and forecasting, cost and management accounting, accounts payable and receivable, internal controls and audit, and finance for non-finance managers.

Who should attend a finance and accounting course?

These courses suit accountants and financial analysts, finance managers and controllers, budgeting and planning staff, internal auditors, accounts payable and receivable teams, and non-financial managers who own a budget or read financial statements.

How long are finance and accounting courses, and where are they held?

Most Al-Khobraa finance and accounting courses run over 5 days. The exact duration, dates and city for this course are listed in the dates section on this page. Public sessions run across Saudi Arabia — Riyadh, Jeddah, Al-Khobar, Jubail and Yanbu — as well as regional and international venues, with live virtual classrooms available on request.

What certificate will I receive?

Delegates who complete the course receive an Al-Khobraa certificate of completion, issued by a Saudi-registered training provider. Al-Khobraa also delivers internationally accredited programmes; where a course carries an external awarding body such as PMI, CIPS, ILM or IOSH, that body is named on the course's own page.

Can finance and accounting training be delivered in-house for our team?

Yes. Any Al-Khobraa finance and accounting course can be delivered in-house at your own premises anywhere in Saudi Arabia or the GCC, with the content, dates and language of delivery tailored to your team. Al-Khobraa is an approved HRDF (Hadaf) provider, so eligible Saudi employers can seek training support. Contact us for a quotation.

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