Welcome to the Full-Time LL.M. and Diploma in Petroleum Taxation and Finance
The LL.M. in Petroleum Taxation and Finance is aimed at petroleum industry professionals, both in government and industry, who wish to gain a grounding in the fiscal and financial dimensions of the international petroleum industry within a legal framework. The programme combines legal, policy and quantitative studies.
Structure
The LL.M. is made up of 200 credits as follows:
Credits |
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20 |
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60 |
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80 |
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40 |
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200 |
The associated Diploma is made up of the Induction Programme plus an additional 120 module credits.
To find out everything you need to know about the programme, please click on the headings above. Additional useful information about the LL.M. can be found using the links in the table below:
Programme |
Finance |
Other |
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Induction Programme (20 credits)
The Induction Programme provides students with vital knowledge and skills before they embark of the main components of CEPMLP's taught Masters and Diploma programmes. CEPMLP students have a wide range of academic and professional backgrounds and the Induction Programme provides each student with a basic introduction to all the main disciplines included in the degrees programmes, namely law, economics, finance and geology. It also provides training in research methods.
Core Modules
Candidates should choose a minimum of 60 credits from the list below:
Energy and Mining Finance (20 credits)
The primary aim of the course is to provide a detailed consideration of the theory of finance as it applies to the energy and mining industries and to consider how the theory is applied in practice. The two key focus areas will be investment decision making with uncertainty and how the investment demands are financed.
Financial and Project Analysis of Natural Resources and Energy Ventures (20 credits)
The main aim of this course is to introduce students into current methods of financial and project appraisal techniques that relate to natural resources and energy organisations. This is a practical course in which evaluation techniques and concepts are taught, such as discounted cash flow, internal rate of return and pay back period, which are applied to realistic scenarios, leading to the preparation of spreadsheets, their analysis and interpretation of results. The student should be able to recommend the appropriate appraisal techniques to a given business investment along with an appreciation of social and other non-financial features. Taxation and sources of finance are also introduced in this module, but any in-depth analyses of them can only be provided in other courses.
International Project Finance (20 credits)
The objective of the course is to provide an understanding of the issues surrounding project finance. The objective is to demonstrate how the concept can be used to fund investment in energy (and infrastructure) projects. The course also looks at how governments might encourage the use of project financing in cases where domestic funding is not sufficient to meet demand.
Mineral and Petroleum Taxation (20 credits)
The main objective of the course is to provide an introduction to the main policy issues in the field of mineral and petroleum taxation and to the main instruments of taxation. The emphasis is on providing an understanding of the issues rather than teaching skills in accounting or financial analysis. These latter skills should be acquired on other courses. Neither does this course intend to make the student into a tax lawyer.
Petroleum Policy and Economics (20 credits)
The main aim is to equip the students with an understanding of how economic analysis can help inform and understand the international oil and gas industry. This requires the students to be familiar both with the relevant economic analysis and technical dimensions of the industry. In addition the course enables the student to become familiar with current issues in the industry.
World Fiscal Systems for Petroleum Investment (10 credits)
The aim of this course is to provide students with advanced skills and understanding to carry out detailed and quantitative analysis of fiscal systems for petroleum, and to use this understanding to evaluate risk and provide a sound basis for economic decision-making.
Recommended Elective Modules
Candidates are advised to choose additional modules from what is available on the academic timetable subject to any restrictions that may apply.
Together with the core modules above, excluding the Induction Programme they should add up to 140 for the LL.M. or 120 credits for the Diploma.
LL.M. Candidates
In addition to the Induction Programme plus the core and elective modules, LL.M. candidates are required to complete an additional 40 credits as follows:
The Dissertation: Candidates are required to write a Dissertation of up to 15,000 words on a topic approved by an academic supervisor.
or
An Internship: Candidates are required to source an organisation willing to offer a 3-month work placement, approved by an academic supervisor. The Internship includes the submission of a written report as part of the assessment.
or
An extended PhD Proposal: Candidates who propose to follow up the LL.M. with a PhD may, with the approval of an academic supervisor, submit a 10,000 word PhD proposal in lieu of the Dissertation.
