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Course Level
Advanced
Delivery Method
Live Instructor-Led Virtual Course
Professional Development Credit Hours
20
Pre-requisites
Recommended: International Oil Supply, Transportation, Refining and Trading, or equivalent knowledge.


Faculty

Dr. Carlos Blanco is a financial risk management expert with over 20 years of diverse experience in energy markets. He has worked with some of the largest energy and commodity market firms worldwide providing educational, advisory services and software solutions.

He is the managing director of analytic solutions for Ascend Analytics. He has advised risk groups and senior management in oil, gas, power, mining and trading firms on various matters related to the risk management process including risk policy, hedging strategy, risk model development and validation, risk appetite and risk metrics.

Dr. Blanco is an active faculty member for Mennta Energy Solutions since 2004, and he has conducted a wide range of energy derivatives hedging, pricing and risk management seminars worldwide. A frequent conference speaker and writer, he has coauthored over 150 articles for Energy Risk Magazine, Commodities Now, Energy Metro Desk, Oil and Gas Journal and others.

He is a former VP Risk Solutions at Financial Engineering Associates, Inc (a MSCI/BARRA Company), where he managed the market risk suite of products as well as the firm's product support and professional services group. He also taught finance at the University of California, Berkeley, and the ABN AMRO Academy. He is a former VP Risk Solutions at Financial Engineering Associates, Inc (a MSCI/BARRA Company), where he managed the market risk suite of products as well as the firm’s product support and professional services group. He also taught finance at the University of California, Berkeley, and the ABN AMRO Academy. Dr. Blanco was recently awarded the GARP Sustainability and Climate Risk (SCR) certification.

Mary Jackson has over twenty-five years' experience in the energy industry. After university she began her career at BP, working in the information management group, before joining the Manufacturing, Supply and Trading department. She subsequently worked at Saladin as a consultant, working closely with clients throughout the world and providing consultancy advice on energy market analysis, trading and risk management. In several senior roles at Saladin, she managed the energy consulting team, ran the energy market information service and directed strategy for new software and information product development.

Since 2000, Mary has worked as an independent energy market consultant and she formed Kingston Energy Consulting with Nigel Harris in 2002. Kingston Energy provides consultancy services to companies involved in energy markets and trading. A key area of work has been the European natural gas market - Kingston Energy has researched and authored a well-respected report on European natural gas trading which has been published annually since 2004.

Mary has lectured regularly for Mennta Energy Solutions on energy markets, trading and risk management and is also a regular speaker and panel member at public conferences. She has written articles for industry publications including Harts Energy Markets, Energy Risk, Global Energy Business and Petroleum Review.

Nigel Harris is a director and principal consultant at Kingston Energy Consulting, which he founded with Mary Jackson in 2002. He has been helping energy traders to analyse and understand the markets for over 25 years, initially as a developer of market analysis software systems, and more recently as a consultant. At Kingston Energy Consulting, his main focus is on providing education and information transfer to participants in the energy trading business, through instructor-led classroom training, web-based training development, research projects, workshops, briefings and research-based report writing. In his work with Mennta Energy Solutions, he has created a library of new instructor-led and web-based courses on European gas and power markets and trading. In 2005, he worked with Mary Jackson to develop the popular Oil Trading Orientation course, which has since been presented at venues all over the world. He has also extensively revised and updated many existing courses on derivatives, hedging and risk management.  He regularly presents this material both at public venues and as in-house, often customised, courses. He is co-author of a series of highly regarded reports on European natural gas trading and has also contributed to reports on power markets and oil trading. In previous roles, he was a key member of the team that initially designed and developed Saladin's innovative Petroleum Analysis Workstation, a system that became an industry standard for historical price analysis during the 1990s and remained in use in the industry for two decades. During this period, he worked closely and extensively with oil and gas traders around the world to understand their information and analytical requirements. He also spent some years as an independent consultant, working mainly with software and information providers to help them better understand the oil and gas trading sectors.


Accreditations

NASBA: Mennta Energy Solutions is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org


CPD Certification Services: The CPD Certification Service works with Mennta Energy Solutions to ensure valuable knowledge is structured to complement the universal guidelines of Continuing Professional Development. Mennta Energy Solutions courses are approved by CPD at one credit per training hour.


GARP: Mennta Energy Solutions is registered with GARP as an Approved Provider of Continuing Professional Development (CPD) credits.

International Oil Trading - Advanced Techniques and Strategic Price Risk Management (VIRTUAL) - TR2V


Course Schedule

Date Time Location Price* Registration Deadline**
16-20 Sep 2024
Register
9:00am-1:00pm (New York) / 14:00-18:00 (London)
Zoom: Americas to Europe
USD 3,050 (TR2V-VILTNA24-09)
16 Aug 2024

*Prices do not include VAT, GST, or any other local taxes. All applicable taxes will be added to the invoice.
**Please register by the deadline to help us ensure sufficient attendance and avoid postponing the course.


Course Summary

International Oil Trading - Advanced Techniques and Strategic Price Risk Management is a VIRTUAL instructor-led course presented by the energy training experts at Mennta Energy Solutions. This course covers the advanced trading techniques applicable to the management of price risk in international oil trading. Through case studies, delegates will learn the techniques involved in trading and how to address day-to-day problems of managing the price risk associated with the role of producer, refinery or consumer with an integrated trading position.

The course focuses on the key markets, pricing and the mechanisms involved in trading. Aspects of the various exposures encountered in trading are covered. Advanced trading instruments of swaps, CFDs and options are presented.


Who Should Attend?

The content of TR2V is such that delegates who consider attending will ideally either be experienced in the basic principles of oil trading. Trading personnel who need to increase their knowledge of derivatives, personnel within the back or mid-offices, interacting daily with the trading function, staff who interface with the trading sector and require a better understanding of trading practice such as management accounting, controllers, treasury or supply functions and professionals in associated fields (e.g. legal and banking) who wish to increase their knowledge of practical derivatives used by the oil industry.


Course Content

Product Trading

  • How to sell a cargo
  • Brokers and traders
  • Trading strategies
  • World product markets
  • Arbitrage
  • Product specs and quality
  • Implied values of quality
  • Intermediate valuation

Crude Trading

  • Trading strategies, putting on a position/taking it off
  • The world of crude oil markets and how they work
  • Market fundamentals
  • Hedging and basis risks
  • Pricing techniques
  • Contract risks
  • Arbitrage
  • Term deals
  • Counterparty evaluation/selection

Technical Analysis

  • Charting
  • Statistical/rule based

Basis Risks

  • Grade (Brent v. WTI)
  • Region (Med. V. US Gulf)
  • Time (Spot v. +1)
  • Contact (Forward v. Futures)

Introduction to Advanced Instruments

  • Spreads and basis trading
  • CFDs and swaps
  • Options

Swaps

  • The markets
  • Contracts for Differences
  • Pricing mechanisms
  • Trading strategies
  • Swaps v. Futures or Forwards
  • Margining
  • Master swap agreement

Traded Options

  • Terms used
  • Puts and calls
  • Buying v. selling
  • Risk v. obligations
  • Simple trading strategies
  • Option valuation and Black Scholes
  • In/out of money
  • Premiums
  • Instrinsic values and time values
  • Volatility historic and implied
  • Significance of, gamma, delta, vega, theta
  • OTC Options, American, Asian, European

Trading Strategies

  • The producer
  • The refiner
  • The consumer
  • The management and assessment of pricing risk

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In the Classroom or Online

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