Trading and Operations within the International Oil Markets is a oil trading course presented by the energy training experts at Mennta Energy Solutions. This four-day course provides delegates with a fundamental understanding of the trading and operational features within the international oil industry - from the selection, purchase, shipment and refining of crude oil through to the subsequent selling of the refined products that meet stringent sales specifications. Emphasis is placed on understanding and successfully resolving the practical issues encountered by professionals within the industry. In addition to formal presentations, delegates will actively participate in exercises and role plays to reinforce their understanding of the topics presented.

What you will learn:

• To select, value and subsequently trade crude oil
• To charter an oil tanker to ship crude oil to the refinery or products to a customer
• How crude oil is refined into finish products
• Significance of quality and product specifications to the product trader
• To select, value and subsequently trade finished products
• To write and review contracts
• To review letters of credit and cargo documents
• To operate a contract for the sale or purchase of oil from its inception, through delivery to final payment
• How traders identify and lock in the profits of inter-regional arbitrage through hedging

• New entrants to the oil industry
• Existing oil industry personnel within exploration, shipping, refining and marketing sectors who need to increase their understanding of oil trading and operations in the international markets
• Lawyers, bankers and accountants with oil industry clients
• Government officials involved in the oil and energy sector
• Tanker owners and shipping agents

Fundamentals

• E&P and international supply/demand
• The oil markets
• Pricing mechanisms

Crude Oil Valuation and Selection

• Crude oil characterisation
• GPW, netback and refiners margin

Tanker Markets

• Freight and Worldscale
• Tanker characteristics
• Chartering and charter parties
• Voyage economics

Refining

• Distillation
• Upgrading and conversion processes

Oil Trading

• Crude oil
• Products – distillates and fuel oil
• Understanding long and short positions
• Futures
• Hedging
• Price management

Product Quality

• Specifications
• Blending
• Component valuation

Oil Contracts

• Preparation and review

Payment and Credit

• Letters of credit
• Banks
• Invoicing

Nominations and Documents

• Bills of lading
• Letters of indemnity

Measurement of Quantity and Quality

• Test methods
• Measurement practices
• Independent Inspectors
• Losses

Other Logistics

• Pipelines
• Stocks and Storage
• Terminal practices
• Storage agreements

Faculty

Mr Robin Burley

Testimonials

If you have attended a past course please provide us with some feedback.