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Cost Accounting and Cost Management in Oil Refineries

An Interactive 5-Day Training Course

Cost Accounting and Cost Management in Oil Refineries

Controlling Costs to Improve Efficiency and Profitability

NASBA
Classroom Schedule
Date Venue Fees
09 - 13 Feb 2026 Dubai $ 5,950
22 - 26 Jun 2026 Dubai $ 5,950
24 - 28 Aug 2026 Abu Dhabi $ 5,950
14 - 18 Sep 2026 London $ 5,950
30 Nov - 04 Dec 2026 Houston $ 7,950
15 - 19 Mar 2027 Dubai $ 5,950
Online Schedule
Date Venue Fees
22 - 26 Jun 2026 Online $ 3,950
14 - 18 Sep 2026 Online $ 3,950

Course Summary

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 GLOMACS Finance & Budgeting training course on Cost Accounting and Cost Management in Oil Refineries provides the essential knowledge and skills to enable delegates to successfully control costs, prepare, manage and control budgets in the Oil Refinery sector. It also provides solutions to the strategic issues currently facing major international Oil Refineries, enabling delegates to effectively managing existing projects and recommend sustainable growth strategies in an efficient and cost effective manner.

This GLOMACS training course will highlight:

  • The structure of the Income Statement and major costs
  • Best Practice Costing Methods in Oil Refineries
  • How to Manage & Control Costs to maintain profitability?
  • Inventory Management techniques to reduce costs
  • Management techniques to stimulate cost control throughout the entire organisation
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
  • Allocating Responsibility for Cost Control
  • Implementing a Cost Control Culture within the Organization
Day 2

Best Practice Costing Methods

  • Best Practice Costing Methods
  • Job Order, Process Costing & Activity based Costing Methods
  • Cost and Value Analysis
  • Cost Control
  • Monitoring of Expenditure
  • Variance Analysis and Reporting
Day 3

Cost Management & Control

  • Cost Classification & Cost Behaviour
  • Controlling Fixed & Variable Costs
  • Reducing Fixed Costs
  • Cost-Volume-Profit Analysis
  • Inventory Control to Reduce Costs
  • Incentives to Reduce Costs
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
  • Implementing a Risk Management Strategy
  • Hedging Price Volatility
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
  • Earned Value Management
  • Managing Project Risks in a Cost Effective Manner
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

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.

Official Saudi Presence

Official Saudi Arabian division of GLOMACS with established global credibility.

International Benchmarks

Internationally benchmarked training courses aligned with professional best practices.

Trusted Across Sectors

Trusted by professionals and institutions across public and private sectors.

Flexible Delivery

Training courses delivered within Saudi Arabia and across international locations.

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Frequently Asked Question

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.

No. While governance and leadership are part of the portfolio, Saudi GLOMACS delivers training across the entire business and professional lifecycle, including administrative, technical, legal, regulatory, and sector-specific training.

No. Our training courses are delivered globally through international locations and online platforms, enabling participants from Saudi Arabia and around the world to learn together. This global delivery approach ensures exposure to diverse perspectives, international best practices, and cross-cultural insights while maintaining strong relevance to regional and organisational needs.

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Yes. Saudi GLOMACS designs and delivers bespoke in-house training tailored to organisational objectives, sector requirements, and workforce needs. Training can be delivered in Saudi Arabia or internationally, depending on requirements.

Yes, in-house and customised strategy training courses are available to support organisations seeking tailored strategic capability development. These courses can be aligned with your industry context, organisational challenges, and long-term strategic objectives.

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

If you would like further information about these training courses, our team is available to provide professional guidance and support. We are pleased to assist with course selection, the registration process, and any other related enquiries.

For personalised assistance or detailed enquiries, please contact our team on +966 (54) 286 8546 or email us at info@glomacs.sa

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.

Saudi GLOMACS offers professional training across a wide range of disciplines, including administration, leadership and management, governance and regulation, law, oil and gas, energy, engineering, finance, digital technologies, and sector-specific specialisations.

Training supports professionals across all career stages, from operational roles to specialist and senior responsibilities.

Participants include professionals from public sector, semi-government, and private sector organisations, across a wide range of roles and industries. Attendees range from administrative and operational professionals to technical specialists, managers, and senior decision-makers.

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