Trading and Operations within the International Oil Markets

Course

In Cape Town, South Africa ((Indicate))

Price on request

Description

  • Type

    Course

  • Location

    Cape town, south africa ((Indicate))

Suitable for: New entrants to the oil industry Existing oil industry personnel within exploration, shipping, refining and marketing sectors who need to increase their understanding of oil trading and operations in the international markets Lawyers, bankers and accountants with oil industry clients Government officials involved in the oil and energy sector Tanker owners and shipping agents

Facilities

Location

Start date

Cape Town, South Africa ((Indicate))

Start date

On request

Questions & Answers

Add your question

Our advisors and other users will be able to reply to you

Who would you like to address this question to?

Fill in your details to get a reply

We will only publish your name and question

Reviews

Course programme

Course Summary
This four-day course provides delegates with a fundamental understanding of the trading and operational features within the international oil industry - from the selection, purchase, shipment and refining of crude oil through to the subsequent selling of the refined products that meet stringent sales specifications. Emphasis is placed on understanding and successfully resolving the practical issues encountered by professionals within the industry. In addition to formal presentations, delegates will actively participate in exercises and role plays to reinforce their understanding of the topics presented.
What you will Learn:
ul%%
  • To select, value and subsequently trade crude oil
  • To charter an oil tanker to ship crude oil to the refinery or products to a customer
  • How crude oil is refined into finish products
  • Significance of quality and product specifications to the product trader
  • To select, value and subsequently trade finishedproducts
  • To write and review contracts
  • To review letters of credit and cargo documents
  • To operate a contract for the sale or purchase of oil from its inception, through delivery to final payment
  • How traders identify and lock in the profits of inter-regional arbitrage through hedging
    ul%%

    Fundamentals

    • E&P and international supply/demand
    • The oil markets
    • Pricing mechanisms

    Crude Oil Valuation and Selection

    • Crude oil characterisation
    • GPW, netback and refiners margin

    Tanker Markets

    • Freight and Worldscale
    • Tanker characteristics
    • Chartering and charter parties
    • Voyage economics

    Refining

    • Distillation
    • Upgrading and conversion processes

    Oil Trading

    • Crude oil
    • Products – distillates and fuel oil
    • Understanding long and short positions
    • Futures
    • Hedging
    • Price management

    Product Quality

    • Specifications
    • Blending
    • Component valuation

    Oil Contracts

    • Preparation and review

    Payment and Credit

    • Letters of credit
    • Banks
    • Invoicing

    Nominations and Documents

    • Bills of lading
    • Letters of indemnity

    Measurement of Quantity and Quality

    • Test methods
    • Measurement practices
    • Independent Inspectors
    • Losses

    Other Logistics

    • Pipelines
    • Stocks and Storage
    • Terminal practices
    • Storage agreements
  • Trading and Operations within the International Oil Markets

    Price on request