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Course Level
Intermediate
Delivery Method
Classroom Instructor-Led Course
Professional Development Credit Hours
32
Pre-requisites
There is no pre-requisite for this course.

"Thought the course was great, not just for the content learned but also from a networking aspect & gaining an understanding of how other companies work and also meeting people from all areas of the oil industry." Chevron

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).

Accreditations

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.


International Oil Trading and Pricing (CLASSROOM) - TR1

Course Schedule

Date Time Location Price* Registration Deadline**
6-9 Nov 2023
Register 		9:00-17:00
 London, UK
 GBP 4,495 (TR1-BLDN23-11)
 29 Sep 2023

*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 and Pricing is a four-day instructor-led oil trading course presented by the energy training experts at Mennta Energy Solutions. This course covers the basic principles of oil trading and the markets. Through a variety of specific exercises, delegates will learn the techniques involved in trading and how to address day-to-day problems.

The course focuses on the key markets, pricing and the mechanisms involved in oil trading. Aspects of the various exposures encountered in trading are covered together with hedging and price risk management techniques. Syndicate exercises will address each skill required. Over the course, syndicate groups will manage their own company positions in live trading situations.

Learning Objectives:

  • Comprehend the Brent Market and its influence on international pricing
  • Position management with hedging tools
  • The structure of purchase/sales contracts including exposures and transaction costs
  • Price risk management
  • Developing successful trading strategies
  • The use of trading instruments to capture the market
  • Use of Freight Forwards to manage freight risk
  • Working the arbitrage
  • Trading structured positions and live markets

It is recommended that delegates should have attended "International Oil Supply, Transportation, Refining and Trading" (SP1) or have working knowledge of all of the subjects covered in that course.

Who Should Attend?

  • Personnel who are entering the trading arena
  • Oil company staff who interface with the oil trading sector and require a better understanding of trading practice, such as operations, accounting, financial control, treasury, supply or production function
  • Those in the legal and banking fields who want a better understanding of trading practice

Course Content

Crude Oil and Product Markets

  • Why trade?
  • Supply/demand
  • How the markets work

Shipping and Freight

  • Freight exposure and freight forwards

Pricing

  • Price reporting
  • Pricing mechanisms
  • Price risk

Contracts

  • Issues and problems

Price Risk and Risk Management

  • Summary of markets (Physical, Forwards, Futures, Swaps, Options)
  • Understanding long and short positions
  • Introduction to hedging tools
  • Basis risk

Product Trading

  • Light and Middle Distillate Trading
  • Fuel Oil Trading
  • Developing successful trading strategies
  • World product markets and pricing
  • Locations, time and quality arbitrages
  • Futures - features of the key futures markets
  • Delivery

Crude Trading

  • Developing successful trading strategies
  • Negotiating term deals
  • Other risks and exposures
  • Arbitrage price risk management
  • Payment mechanisms, letters of credit
  • Counterparty selection

Introduction to Advanced Instruments

  • The EFP
  • Swaps & Options
  • Spreads and basis trading

Case Studies and Exercises Include:

  • Price exposure
  • Arbitrage
  • Basis risk
  • Negotiating a deal
  • Freight Hedging
  • Option valuation
  • Contract Risks
  • Managing ongoing positions
  • Trading the live market

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