Oil and Gas Accounting

 

Welcome to my comprehensive guide to Oil and Gas Accounting. Whether you are an accountant, finance professional, or simply interested in the industry, this webpage provides expert insights and valuable resources on the accounting principles and practices specific to the Oil and Gas sector. From exploration costs to revenue recognition, I cover key concepts and techniques, as well as regulatory compliance requirements. Stay informed and up-to-date on the latest industry trends and best practices with my informative content.

Due to the nature of the oil and gas industry, Oil and Gas Accounting is a vast subject. The following topics are typically covered in universities, polytechnics, and professional accounting examinations.

Contents

Introduction to Oil and Gas Accounting

The Nature and Formation of Oil and Gas

History of Oil and Gas Industry in the World

History of Oil and Gas Industry in Nigeria

Characteristics of the oil and  gas industry

Locations of oil and gas fields

Activities in the oil and gas industry 

Licenses granted to oil and gas companies

Classifications of oil and gas reserves

Types of oil and gas wells

Crude oil classifications and pricing

Cost classifications in the upstream sector

Accounting concepts, principles and standards in the oil and gas industry

Accounting methods

Amortisation

Joint production of oil and gas

Ceiling test

Joint Venture and economic interests

Production sharing contract

Taxation in oil and gas accounting

You can take self-assessment tests on oil and gas accounting

Instructions for taking a self-assessment test

Self-assessment test 1

Self-assessment test 2

Self-assessment test 3

Self-assessment test 4