The Synergies of Refining, Trading and Supply in Oxford, Uk

Course Summary
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. It is recommended that delegates should have attended SP1 or have working knowledge of the subjects covered in that course. There are no pre-requisites for this course, nor is any advanced preparation required.
Please take note of the number of training days listed in the schedule, as it varies by location.
8CPE creditsper training day awarded for this course
What You Will Learn
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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
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Suitability:
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
  
• Overvie- 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