Overview of Physical Crude Oil Trading and Operations

Course Summary
In this introductory workshop, delegates will gain an in-depth understanding of how the physical crude oil trading market works. Besides an invaluable exposure to terminology, each delegate will experience all the steps in typical domestic and foreign crude oil transactions. We'll explore the linkage between new well production, marketing, transportation and storage, as well as refining to physical trading (both speculatively and as a hedge vehicle).
16CPE creditsawarded for this course .

Requirements:
As this is an introductory course, there are no prerequisites.
Pre-classroom Study
As part of our blended learning package, this workshop has a specific web-based course which is recommended as pre-classroom study. Upon registering for the workshop delegates will receive details of how to access the web-based course. Access to the web-based course is included in the price of the classroom course. To optimize your classroom experience, it is recommended you take the appropriate online study as close to the classroom date as possible. The recommended pre-classroom study for this workshop is PrincetonLive.com's
An Introduction to the Oil Industry .
Suitability:
Class delegates include anyone who has a requirement or interest in understanding the mechanics of physical crude oil trading and operations. This typically includes trading and contract analysts, personnel from upstream pipeline and marine operations, product supply, refinery operations, information technology, accounting, those ne- to the industry and crude oil trading staff all the way up to middle and senior management ne- to this trading discipline.

• The major components of physical crude oil operations
  
• The worldwide logistics of crude oil (wellhead to refinery)
  
• International and domestic trading patterns and major trade locations
  
• Ho- crude oil is selected and optimized by a refiner
  
• Major price components
  
• The art of the trade and verbal counter-party negotiations
  
• Spot vs. term deals - critical path steps of a typical crude oil negotiation
  
• Crude contract terminology, credit instruments and legal issues
  
• Pipeline and marine nomination procedures
  
• Ho- to maximize profit from trading strategies and operations
  
• An overvie- of fundamental and technical analysis and hedging strategies
  

Plus: An exciting trading simulation where you will actually apply what you have learned!