Trading Operations Practice - TRSQ 

CPE Credits Awarded: 24
Categories: Trading, Derivatives, Hedging and Risk Management

Course Date Duration Venue Price Register by Date Register
30 May 2018 3 Days Singapore, Singapore Country: sg
$ (USD) 4,485.00+7%GST
20 Apr 2018

Gold Course This course provides the detailed practices and techniques involved in trading operations in today’s international crude and product markets. It has been designed for front, middle and back office personnel who need a detailed insight into trading operations best practice and emphasises the factors which have impact on corporate profitability and risk. It will also appeal to personnel who have recently joined a trading group of an oil company, investment bank or commodity trading company. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry.

The course commences with the progress of a trade, and the formation of a contract and moves on to the elements flowing from this that require operations management, including chartering, nomination, documentation and claims.

Each area is discussed in detail and topics such the relevant quality and specifications of actively traded product groups, the logistics of managing pipeline and storage deals and appointment of inspectors are also covered.

The course also highlights critical areas of exposure in oil trading operations and ways to avoid or mitigate problems.

What You Will Learn

  • The progress of a trade
  • Basic terminology of tankers and freight
  • Key operational clauses in a contract and areas of exposure
  • Price reporting and pricing clauses
  • Chartering processes and shipping operations
  • Nomination procedures
  • Overview of refining and quality
  • Blending operations
  • Laytime and demurrage
  • Documentation instructions
  • Managing letters of credit
  • Pipeline and storage deal operations
  • Measurement of quantity and quality
  • Cargo insurance, losses & mitigation

Managers Return on Investment

By attending this course, your employee will have gained the following:

  • A full understanding of the operational practices involved in the international oil supply and trading arena.
  • “Hands-on” practice in operations problem solving including: freight calculations, contract and credit clause preparation, nomination, documentation, claims, pipelines, storage deal management and terminalling.
  • An appreciation of the contractual relationship between traders and the responsibilities that flow to the operations personnel from this.
  • An introduction to the legal obligations and exposures that are involved in oil and shipping operations and approaches to mitigating problems
  • Recourse to a world-class faculty, experienced in operations and trading, and with significant expert witness experience in court disputes involving international trading and transportation
  • The opportunity to interact and work together with other delegates from a large range of organisations and cultures.

Industry professionals within an oil/energy trading department with responsibilities in front, middle or back office functions.

Contracts

  • The legal requirements of a contract
  • Structuring the key terms of a contract and price
  • Contracts and controls

Shipping

  • Understanding of the basics and terminology
  • Calculation of freight and Worldscale
  • Chartering process and key terms
  • Shipping operations
  • Demurrage

Contract Operations

  • Nomination procedures
  • Documents and the Bill of Lading
  • Price reporting
  • Letters of credit and the banks

Quantity and Quality

  • Measurement of quantity and quality
  • Product types & grades
  • Relevance of product qualities
  • Significance of reproducibility and repeatability

Logistics

  • The Loading and discharging process
  • Blending linear and non linear
  • Other logistics – including pipeline operations
  • Storage logistics – agreements, inventory and operations
  • Transaction costs
  • Inspection of cargo and vessel
  • Insurance, losses and claims in oil and shipping

Case studies and Exercises include:

  • Freight and Worldscale
  • The spot crude sale contract
  • Blending to meet product quality
  • Letter of Credit documentation
  • Pipeline economics
  • Storage
  • Demurrage
  • Operational/legal exposures

Faculty

Robin A Burley is principal consultant with Kennet Oil Logistics, a company established in 1990 providing expertise in the international supply, trading and transportation sector. During his 30 years experience in the oil industry he has worked with BP including Marine and Supply Departments, and Gulf Oil including Trading and Transportation, Refining and Marketing functions. Besides the day-to-day management and negotiation of oil supply, trading and transportation deals, he has been involved in a variety of oil logistics projects throughout the world. He has lived in the USA, Europe and the Middle East, and is a contributing author to the Oil Trading Manual (pub. Woodhead 1995).

Testimonials

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

UK: (+44) 1865 250521   |   USA: (+1) 713 343 1699   |   Singapore: (+65) 6722 3845

 

Email us at info@mennta.com

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Mennta Energy Solutions (formerly The Oxford Princeton Programme, Inc.) is not affiliated with Princeton University, Oxford University, or Oxford University Press.

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