McCombs School of Business

Global Oil and Gas Accounting

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About the course

Investigate the accounting and financial aspects of international oil and gas operations. You will gain working knowledge of key issues, techniques, practices and terminology.

“The world’s energy system is at a crossroads. Current global trends in energy supply and consumption are patently unsustainable - environmentally, economically and socially.” - Report published by the International Energy Agency (IEA) The IEA ended their report with, “time is running out and the time to act is now.” Oil prices may not rise significantly in the near future, but temporary demand destruction doesn't hold a candle to permanent supply destruction. Adding to the problem, dramatically lower oil prices make projects uneconomical, and exploration and production are declining around the world. This class presents an examination of the current accounting and financial environment and how world reserves, consumption, doing business internationally, accounting rules, disclosures and credibility all come into play. Participants investigate the accounting and financial aspects of international oil and gas operations, and gain a working knowledge of key oil and gas issues, techniques, practices and terminology.


Examine the economics, strategy, business valuation, and finance specific to the energy industry, offering you a focused look at your field.

One-Day Focused Program

Registration begins at 8:00 a.m. and class runs 8:30 – 4:30 with a one-hour networking lunch included.

Houston, Texas

Our Energy classes are held in Houston, the energy capital of the world.


  • Discover how to make better accounting and financial decisions
  • Learn how we disclose the reserves and use the data for financial purposes
  • Discuss the major contracts used on a worldwide basis and how they work
  • Understand the joint venture contracts and how they work
  • Realize accounting issues, problems and solutions with regard to GAAP/SEC vs. contract accounting vs. government accounting and so on


  • Accounting for international petroleum operations
  • Accounting for international contracts
  • Financial management
  • Planning and analysis

Trust the experts

Wayne Scott

Wayne Scott is a lecturer in the Department of Accounting at the McCombs School of Business at The University of Texas at Austin. Mr. Scott also consults with oil and gas companies and has over twenty years of experience in the international oil industry. Mr. Scott served as Director of Professi...


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