Trading and Operations within the International Oil Markets
Course
In Cape Town, South Africa ((Indicate))
Description
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Type
Course
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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
Start date
Reviews
Course programme
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:
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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