Course dates
Learn to use trading and hedging to profit from, and protect against, oil market movements. Setting the scene for oil trading, this Euromoney Energy Training course examines markets, pricing and products to provide participants with a thorough overview of the sector. This course will explore mechanisms and tools for both physical and financial oil trading allowing unparalleled access to the world of trading, its role within the oil industry and its importance in the success of oil companies.
Participants will leave this course with a thorough understanding of the workings of crude oil markets and the range of contracts, tools and techniques available to traders.
Attend this practical and interactive four-day training course and enhance your knowledge on the following key areas:
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Supply and demand: Fundamentals and implications
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Crude evaluation and selection
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Physical markets, pricing & price exposure
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An introduction to brent
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Oil trading and jargon
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Hedging instruments: Forward & futures
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Oil refining
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Swaps
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International product trade flows and transport
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Trading: Options and risk management strategies
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Dated Brent and the 21 Day BFO market & CFD’s
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Market reporting and price assessment
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ICE
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Management issues
- Featuring: An electronic refining & trading simulation - put into practice what you have learnt from the course by competing against the other delegates in this real life electronic trading game.
How this course will help you
You will:
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Review crude oil supply, demand and products
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Understand crude oil refining, evaluation and selection
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Explore physical markets, shipping and contracts
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Appreciate pricing formation and price risk management
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Learn about futures, swaps, options and over- the-counter markets
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Become familiar with trading techniques and terminology
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Participate in trading & hedging exercises and improve negotiation skills
Who should attend
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Traders
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Refiners
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Sales & marketing
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Account managers
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Economists
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Analysts
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Risk managers
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Operations managers
Day 1
General Introduction
Supply and Demand
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Fundamentals and Implications
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Evolution of oil demand and supply
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Current oil reserves and production
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Oil supply/demand and implications for trade
Crude Evaluation and Selection
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Crude classification and assay
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Gross Product Worth
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Worldscale (freight costs)
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Net margin and crude selection
Physical Markets, Pricing & Price Exposure
Introduction to Brent
Introduction to Oil Trading and Jargon
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Reading the market
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Fundamental analysis
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Technical analysis
Day 2
Refining & Trading Simulation (Round 1)
Hedging Instruments- Forward & Futures
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Evolution of the market
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Crude oil forward markets
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Crude forward contracts
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Spread trading
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Review of futures contracts & terminology
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Role of ICE/Nymex
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Hedging example using futures
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Basis risk and forward curve
Briefing Refining & Trading Simulation (Round 2)
Crude hedging with futures/basic risk
Hedging strategy and position management
Refinery nominations (crude type and mode of operation)
Oil Refining
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Crude supply, refineries & finished product
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Refiners change product mix
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Supply, demand & alternative fuels
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Emissions & product quality
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Refinery margins & investment
Swaps
Day 3
Refining & Trading Simulation (Round 3)
International Product Trade Flows and Transport
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Differences between Products & Crude
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The main product markets
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Product price drivers
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Product price differentials
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Refining balance
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Fundamentals of the various product markets
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Power market
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Bunker market
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Atmospheric residue market
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Importance of refining margins
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Freight
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Arbitrage & trade
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Role of traders/blenders
Refining & Trading Simulation Briefing (Round 4)
Refining &Trading Simulation (Round 4)
Trading: Options and Risk Management Strategies
Day 4
Dated Brent and The 21 Day
BFO Market & CFD’s
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The Brent forward contract
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Brent lifting programme
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Linking of the 21 day BFO & Dated Brent markets
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Contracts for difference/ Brent CFD market
Market Reporting and Price Assessment
ICE
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Role of ICE
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Function, organisation and regulatory structure
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Contracts and operational procedures
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Market uses & users
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Exchange of physicals for futures (EFP’s)
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Exchange of futures for swaps (EFS’s)
Simulation Results
Management Issues
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Control lessons learnt
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The major economic risks
- Controlling risk
Central London Hotel (energy), London, UK
All Euromoney Energy Training courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.
Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.
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David Richards
David Richards has over 30 years experience in the international oil and natural gas business with the BP Group. He gained a breadth of experience in senior management positions within the downstream marketing business in the UK, Europe and South Africa, involving Directorships in a number of BP subsidiaries.
Courses run by this instructor
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Trevor Christmas
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.
Courses run by this instructor
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
25-27 Jun 2012 (London, UK)
17-19 Dec 2012 (London, UK)
This Petroleum Company Performance Management training course has been designed to offer personnel from corporations and financial institutions a full compliment of tools to use most effectively in developing and analysing the corporate performance measures for oil and gas companies.
23-26 Apr 2012 (London, UK)
25-28 Sep 2012 (London, UK)
The Commercial and Trading Aspects of Oil Refining course will provide you with in-depth knowledge of the refining business and an understanding of how trading/hedging can improve margins and reduce risk. Discover how to optimise refinery margins and manage the profitability of commercial refining.
23-25 Apr 2012 (Accra, Ghana)
This Introduction to the Oil and Gas Industry training course will provide you with an understanding of how the industry works from exploration to commercialisation and will introduce you to oil and gas operations and economics.
20-24 Aug 2012 (London, UK)
This Euromoney Energy Training course provides a comprehensive overview of the oil and gas industry from upstream exploration and production to downstream refining, sales and marketing. You will gain an appreciation of industry dynamics and the key issues affecting its development and future. This course will provide a thorough foundation for understanding the changing industry dynamics.
9-11 May 2012 (London, UK)
This course will investigate the mechanisms for trading physical oil, freight, shipping and derivatives to optimise margins and achieve profit targets. The interdependence between oil markets and ship chartering will be extensively explored, revealing links to the derivative markets and the use of trading tools.
15-17 Feb 2012 (London, UK)
17-19 Oct 2012 (London, UK)
This Euromoney Energy Training course provides a comprehensive overview of the oil and gas industry from upstream exploration and production to downstream refining, sales and marketing. Under the guidance of our expert course faculty, participants will gain an appreciation of industry dynamics and the key issues affecting its development and future.
16-18 May 2012 (London, UK)
Euromoney Energy Trainings Petroleum Sales Contracts course is designed to give attendees a comprehensive understanding of crude oil, natural gas and refined products markets and the sales contracts that are utilised for transactions through the supply chain.
29-31 Oct 2012 (London, UK)
This course is designed for professionals who need to develop an understanding of the unique aspects of the energy industry, including the oil and gas commercialisation and business development or facilities evaluation and commercialisation.
The course will focus on the skills required in evaluation (both buyside and sell-side), financing, acquisition, and exploitation planning for an oil and gas entity, a midstream facility or electrical generation plant.
11-15 Jun 2012 (Singapore, Singapore)
A 3-day course designed to provide participants with in-depth knowledge of oil products, oil trading, market participants and fundamentals such as pricing.
17-19 Sep 2012 (London, UK)
23-25 Apr 2012 (Singapore, Singapore)
19-21 Nov 2012 (Singapore, Singapore)
16-19 Jul 2012 (London, UK)
4 days of course modules that focus on the review and examination of the key elements of the supply chain from upstream activities of exploration, development and production through transportation to downstream sector that involves trading, refining, petrochemicals and final distribution to the consuming markets.
28-30 May 2012 (London, UK)
This Fundamentals of Crude Oil Valuation & Pricing course covers everything you need to know about how oil is traded and priced in the international market. The course covers the valuation and pricing of physical cargoes of crude oil, as well as how derivatives such as oil futures and swaps are structured.
18-20 Jul 2012 (New York, United States)
This course will give you an in-depth introduction to petroleum refining technology and economics. The focus is on transportation fuels refineries, however, petrochemical production and biofuels are also discussed. The first part of the program includes an
overview of crude oil supply and petroleum product demand. This is followed with a description of refinery process technology. Key refining technologies are described such as crude oil distillation, heavy oil conversion options, hydrotreating, and catalytic reforming.
12-15 Nov 2012 (Hong Kong, Hong Kong)
4 days of course modules that focus on the review and examination of the key elements of the supply chain from upstream activities of exploration, development and production through transportation to downstream sector that involves trading, refining, petrochemicals and final distribution to the consuming markets.
20-22 Aug 2012 (Hong Kong, Hong Kong)
This course is designed for professionals who need to develop an understanding of the unique aspects of the energy industry, including the oil and gas commercialisation and business development or facilities evaluation and commercialisation.
The course will focus on the skills required in evaluation (both buyside and sell-side), financing, acquisition, and exploitation planning for an oil and gas entity, a midstream facility or electrical generation plant.
25-27 Sep 2012 (Singapore, Singapore)
This Fundamentals of Crude Oil Valuation & Pricing course covers everything you need to know about how oil is traded and priced in the international market. The course covers the valuation and pricing of physical cargoes of crude oil, as well as how derivatives such as oil futures and swaps are structured.
23-26 Apr 2012 (New York, United States)
4 days of course modules that focus on the review and examination of the key elements of the supply chain from upstream activities of exploration, development and production through transportation to downstream sector that involves trading, refining, petrochemicals and final distribution to the consuming markets.
25-29 Jun 2012 (London, UK)
Energy Finance School: Upstream, Midstream & Downstream Oil, Gas & LNG Projects - London
20-22 Aug 2012 (London, UK)
22-31 Oct 2012 (Hong Kong, Hong Kong)
17-20 Sep 2012 (London, UK)
This four day training course is specifically designed for
professionals involved internationally in the oil and gas
industry, it offers a unique opportunity to rapidly
increase your understanding of the legal issues involved
in various international scenarios and to improve your
techniques and skills in drafting a variety of
international contracts.
Course dates