International Oil Trading - Operations Manager

International Business House

Course

In London

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£ 1,890 VAT inc.

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Description

  • Type

    Course

  • Location

    London

  • Duration

    4 Days

  • Start date

    Different dates available

Learning opportunities: During the week delegates will learn the techniques involved in trading and how to manage day-to-day problems. After reviewing the background of supply, refining and transportation, the programme focuses on the key markets, pricing and the mechanisms involved in trading. The course programme is based on the combination of theory knowledge delivered by the ICE Futures lectures, practical workshops and trading games. Suitable for: This course is for 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. The participants of the course will be issued an international certificate of the ICE Futures

Facilities

Location

Start date

London
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9 Appold Street, EC2A 2AP

Start date

Different dates availableEnrolment now open

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Reviews

Subjects

  • Quality Training
  • International
  • Supply
  • Quality
  • Credit
  • Volatility Trading
  • Bonds Trading
  • Trading Options
  • Trading
  • International Trade
  • Trader
  • Trading Strategy

Teachers and trainers (4)

Dr. Ken Mildwaters

Dr. Ken Mildwaters

World-renowned legal expert specialising in the field of natural resou

In a career spanning more than 30 years he has practised law as a partner with leading English and Australian law firms, Theodore Goddard, Jackson McDonald and Kott Gunning. Dr Mildwaters is a member of the faculty at the Centre for Petroleum and Mineral Law Studies at the University of Dundee. Globally, he has presented numerous papers and conducted workshops in the fields of natural resources law, joint ventures and joint operating agreement, negotiation skills and managing in-house legal functions.

John Cohen

John Cohen

Tanker Shipping Consultancy Services

Following ten years in supply and distribution with Total in the UK, John spent seventeen years in broking and operations, managing and running a number of tanker broking companies. He joined Reuters in 1992 to develop information services for the transport markets and to manage their tanker shipping service. John has provided training for the shipping and energy markets in tanker chartering and operations for the last 15 years and, as well as running this course and participating, he lectures regularly both in the UK and abroad.

Suzanne Taylor

Suzanne Taylor

Lecturer

Suzanne Taylor Business and Training Consultant Suzanne has 12 years of experience in the oil industry. In 2000 Suzanne qualified as a lecturer in adult education. Since 1991 she worked in the London trading office of TOTAL S.A. specialising in Risk Management with the responsibility for planning and delivering management training programmes. Manager of derivative services to Refining and Distribution Offered a full risk management service to TRD S.A., hedging refinery margins and marketing

Trevor Christmas

Trevor Christmas

Lecturer

Trevor Christmas has 30 years experience in the energy industry with BP, and more recently, with the IPE. At BP, he held senior management positions in London, Asia and the Americas mainly in trading and downstream. At the IPE, he was responsible for the Exchange’s marketing services worldwide in oil, gas and electricity.

Course programme

Course review:

During the week delegates will learn the techniques involved in trading and how to manage day-to-day problems. After reviewing the background of supply, refining and transportation, the programme focuses on the key markets, pricing and the mechanisms involved in trading.

The course programme is based on the combination of theory knowledge delivered by the ICE Education lectures, practical workshops and trading games.

Programme:

Introduction

  • Oil markets – the fundamentals
  • Basic drivers of oil demand
  • Details and structure of oil demand
  • Oil production and supply
  • Studying oil flow
  • Trading opportunities
  • Crude oil markets
  • Crude oil pricing
  • Crude oil benchmarks

Oil products markets

  • What is different?
  • The geography of the market place
  • Usage and critical quality parameters
  • Arbitrage in price and quality
  • Product flow and trading opportunity
  • Product benchmarks

Trading roles – the role of the operator

  • Proactive operations and planning
  • Front / middle / back office


Negotiation – What do you negotiate in a physical deal

  • Discovery of contract clauses
  • Explanation of value
  • Difference between FOB and CIF contracts
  • Examination of inco terms

Procedural aspects associated to the contract

  • Entering into a contract
  • Verbal vs. writing
  • Confirmation process
  • Breach / Reputation / force majeure

Practical application

  • Case study – Looking at a contract – where are the errors

Review

  • Contract structure and terms

General Terms and Conditions

  • Why do they exist?
  • Advantages and disadvantages
  • Some examples of ow terms differ

Teams exercise – Negotiate a contract

  • Activity to demonstrate commercial obligations

Areas of contention / negotiating a settlement

  • Quantity and quality
  • Dispute resolution
  • ADR / Arbitration / Litigation (etc)

Inspection and Inspector agreement

Risk in trading

  • Types of Risk
  • Credit evaluation and ranking
  • Credit formula in credit management

Payment terms

  • Types of credit
  • Letters of credit
  • Role, obligations and rights of banks
  • Letters of indemnity

Practical Application

  • Checking a contract and a letter of credit

Commercial aspects of a Charter party

  • The process of chartering
  • Different types of charter
  • Key clauses

Demurrage

  • Laytime
  • Laydays
  • Exceptions
  • Demurrage in sales contracts

Practical Application

  • Case study to calculate demurrage

Legal aspects of the charter party

  • Standard terms
  • Obligations
  • Special clauses
  • Carriage of goods at sea
  • Pollution

Documentation

  • Bills of Lading
  • Purpose / rights etc
  • Stale B/L’s

Best operational procedure

  • Nomination
  • Documentary instruction
  • Substitutions

Case study and scenario an operational procedure

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International Oil Trading - Operations Manager

£ 1,890 VAT inc.

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