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Course Level
Intermediate
Delivery Method
Classroom Instructor-Led Course
Professional Development Credit Hours
32
Pre-requisites
Recommended: International Oil Supply, Transportation, Refining and Trading, or equivalent knowledge.

"This was very useful, beneficial and full of great content for our knowledge. The lecturers were very kind and friendly; we felt that we were at home!" Kuwait Petroleum Corporation


Faculty

Dr. Ian Holdaway is a consultant to the downstream oil industry and has provided expert opinion on more than 70 disputes involving the International Trading and Supply of crudes oil and petroleum products and the planning and economics of refinery operations. Dr Holdaway currently acts a consultant to Minton Treharne & Davies Co Ltd. After graduating with a PhD in industrial chemistry, Dr Holdaway joined Esso working in Research, Marketing and Corporate Planning before transferring to Refining, where he was responsible for Refinery Operations Planning and subsequently Supply Logistics After 11 years he joined J Aron, the commodity trading division of Goldman Sachs, where, as Trading Operations Director, he was responsible for all aspects of J Aron's International Trading Operations within the European and Far Eastern Offices markets.


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.

BAC: Mennta Energy Solutions is pleased to be endorsed by the BAC for Independent Further Education as a Short Course Provider. Endorsement covers courses delivered in the UK only.

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

The Synergies of Refining, Trading and Supply (CLASSROOM) - TRR


Course Schedule

Date Time Location Price* Registration Deadline**
14-17 Nov 2022
Register
9:00-17:00
London, UK
GBP 3,825 (TRR-ALDN22-11)
7 Oct 2022

*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

The Synergies of Refining, Trading and Supply is a four day instructor-led energy trading course presented by the energy training experts at Mennta Energy Solutions. This advanced course is designed to provide delegates with a thorough understanding of the latest business techniques and refining technologies available to the oil supply, trading and refining industries, and highlights how the activities of these sectors may be optimised and synergised to maximise overall profitability. Through a variety of case studies, delegates will learn the principles of refinery planning and economics along with basic principles and techniques involved in trading and supply. Delegates will focus on the synergies between these sectors to maximise corporate profitability. Short-term operations and medium-term planning using linear programming and long-term investment decisions are addressed.

What Will You Learn?

  • The influence of the world energy outlook on refining economics
  • Selection of the optimum crude slate
  • Using the trading market to maximise refining profitability
  • The economics and technologies of refining
  • Effective planning and optimisation of the refinery operation
  • Supply, refining and distribution optimisation in a multiple refinery scenario
  • Capturing added value by blending
  • Processing - the commercial opportunities
  • Adding value within the logistical chain
  • Economic analysis of supply/refining
  • Project investment evaluation
  • Locking in the return of capital invested
  • Measuring refinery performance
  • Confronting the future of the refining industry - strategies and constraints

Who Should Attend?

Personnel within the refining sector who have a direct involvement in the efficiency and profitability of the refinery operation and its interaction with the supply trading functions (e.g. planners and engineers). Personnel within the supply trading sector who have a direct involvement with the refinery operations, influencing its efficiency and profitability (e.g. traders and supply operators). Managerial staff within refining and supply trading who have responsibility for the overall profitability of their respective areas and synergistic relationships between these groups to enhance corporate profitability and analysts with refinery finance and investment.


Course Content

Introduction

  • Terms used
  • Units used

Fundamentals

  • Supply/demand
  • Refinery utilisation

Crude Oil Valuation

  • Crude oil characterisation
  • GPW
  • Netback and refiners margin

Tanker Markets

  • Freight and Worldscale
  • Tanker characteristics

Refining

  • Products, key qualities
  • Overview of processes

Oil Markets

  • Physical markets
  • Pricing mechanisms
  • Price risk
  • Understanding long and short positions

Paper Markets

  • Futures
  • Forwards
  • Swaps
  • Hedging tools
  • Basic risks

Processing Deals

  • Exchange deals
  • Product quality
  • Specifications
  • Blending
  • Component valuation

Economics of Refining Processes

  • Distillation
  • Reforming, isomerisation, alkylation
  • Visbreaking, coking
  • Cat-cracking, hydrocracking
  • Lubes, bitumen and petrochemicals
  • Utilities

Refining and Supply Planning

  • Fundamentals of linear programming
  • Interpreting the LP solution
  • Trading techniques to lock in the "solution"
  • Logistical optimisation amongst refineries
  • Medium and long term planning
  • Scheduling-planning interface

Refinery Margin

  • Hedging the margin
  • Capitalising the margin
  • Realising a target or budget margin

Project Investment

  • DCF analysis
  • Strategic decisions
  • Trading techniques to lock in the return on capital
  • Trading techniques to fund the investment
  • Future challenges facing the industry

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