Prax Group is a British multinational, independent global energy conglomerate dealing in crude oil, petroleum products and bio-fuels, with a complete integration across the oil value chain, from upstream to downstream.
Our ability to deliver innovative customer solutions across the world has secured our reputation as a leading presence in the global energy market. As we continue to grow, we are looking for an exceptional Upstream Economist to join our dynamic team in the oil and gas sector.
This is an exciting opportunity for a forward-thinking and results-driven professional to bring their expertise to the table, analyze market trends, forecast economic outcomes, and provide key insights on upstream operations including exploration, production, and asset development. As an Upstream Economist, you’ll be at the heart of driving economic decisions across the business. Economic Analysis & Forecasting:
Conduct in-depth economic evaluations of upstream projects, from exploration through to field development and production optimization.
Shape the future of our operations by creating long-term forecasts for oil and gas production, costs, and prices.
Use your sharp analytical skills to assess market trends, economic indicators, and regulatory shifts that affect upstream activities.
Project Evaluation & Decision Support:
Collaborate with technical, engineering, and financial experts to assess and evaluate new and existing upstream projects.
Support senior management by providing insightful business cases, risk assessments, and capital expenditure analyses to guide investment decisions.
Keep your finger on the pulse of the global oil and gas market and use your insights to develop competitive strategies.
Advise on pricing strategies and help shape our approach to upstream product pricing based on supply-demand trends.
Data Management & Reporting:
Be the driving force behind gathering and analyzing economic data to provide actionable insights.
Prepare clear and impactful reports for senior leadership, showcasing key performance indicators and financial performance.
Risk Management:
~ Identify potential risks related to upstream activities—ranging from price volatility to regulatory changes—and help the team mitigate these risks with proactive strategies.
Work closely with internal teams—geologists, engineers, financial analysts, and executives—to align economic strategies with business goals.
Engage with key external stakeholders, from government agencies to market analysts, ensuring we stay ahead of regulatory and market developments.
A degree in Economics, Finance, Petroleum Engineering, or a related field. A Master’s degree is a plus.
Minimum 5 years of experience in economic analysis or project evaluation within the upstream oil and gas sector.
Proven expertise in commodity market analysis, including forecasting oil and gas prices and trends.
Knowledge of UK regulatory regimes and recent taxation changes would be an advantage.
Strong proficiency in economic modeling and financial analysis tools (Excel, Power BI, or specialized software).
and upstream project economics.
A sharp eye for detail and the ability to make data-driven decisions under pressure.
Outstanding communication skills to translate complex economic data into clear, actionable insights.
Experience with large-scale data sets and advanced analytical tools.
Familiarity with the regulatory frameworks that shape the oil and gas industry.
At The Prax Group, we believe in fostering talent and providing career growth opportunities. As an Upstream Economist with us, you will have a direct impact on shaping the future of our business.