Trading and Operations within the International Oil
Markets
Date: 30 Sep - 3 Oct 2008
Venue: Cape Town,
South Africa
Code: TRSA\BRSA08
Course Director: Mr Robin
Burley
Cost: TBA
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:
- 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 finished
products
- 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
Who Should Attend?
- 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
Course Contents
Fundamentals
- 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
Refining
- Distillation
- Upgrading and conversion processes
Oil Trading
- Crude oil
- Naphtha and gasoline
- Jet fuel and distillate
- Fuel oil and heavy feedstocks
- Understanding long and short positions
- Futures
- Hedging and arbitrage
- Introduction to advanced trading instruments
Product Quality
- Specifications
- Blending
- Component valuation
Oil Contracts
Payment and Credit
- Letters of credit
- Banks
- Invoicing
Nominations and Documents
- Vessel nominations
- Documentary instructions
- Bills of lading
- Letters of indemnity
Measurement of Quantity and Quality
- Test methods
- Measurement practices
- Independent inspectors
- Losses
Storage and Stocks
- Stocks and their relevance to the industry
- The nature of storage
- Terminal practices
- Storage agreements
Request brochure and registration
form
Click here to
request a brochure and registration form for this course.
