Principles of International Oil Trading is an instructor-led oil trading course presented by the energy training experts at Mennta Energy Solutions. This course covers the basic principles of international oil trading and the allied fields of supply, transportation and refining. Through the medium of a case study, delegates will address day-to-day problems and will understand the relevant commercial driving forces in this area. 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. Delegates are introduced to the key elements affecting the international market of oil trading. Crude valuation, ocean tanker transport and freight are explored together with a basic overview of terminals and pipelines. The structure of a refinery will be explained in the context of the need to produce marketable products. Aspects of product quality will be covered together with the key refining processes needed to achieve them.
After reviewing the background of supply, refining and transportation, the course focuses on the key markets, pricing and the mechanisms involved in international oil trading. Aspects of the various exposures encountered in trading are covered together with an introduction to price risk management. Syndicate exercises will address each skill required. Additionally, during the week, delegates are given the opportunity to trade in the current market via a simulation of live trading. There are no pre-requisites for this course, nor is any advanced preparation required.
What you will learn
Personnel who are entering the international trading market and staff who interface with the trading sector and require a better understanding of trading practice such as management accounting, controllers, treasury or supply functions. Also, those in the legal and banking fields who want a better understanding of trading practice and managers changing disciplines into supply and trading as well as professional personnel inside and outside oil companies interfacing with supply, refining, trading and transportation functions and who need an overview of this sector - such as legal, banking, insurance, finance and production.
Crude Oil and Product Markets
Shipping and Freight
Oil Markets and Price Risk
Other Risks and Exposures
Bills of lading and letters of indemnity
Introduction to Advanced Instruments
Case Studies and Exercises Include: