Commercial & Trading Aspects of Oil Refining Training - London, UK

Dates	Location	Price	Add dates to my diary	Brochure	Register
16-19 Sep 2013	London, UK	£3,850.00	Add dates	Download	Register now
7-10 Apr 2014	London, UK	£3,850.00	Add dates	Download	Register now
15-18 Sep 2014	London, UK	£3,850.00	Add dates	Download	Register now

Attend this practical and interactive four-day training course and enhance your knowledge on the following key areas:

Crude selection
Physical oil markets, pricing mechanisms & price exposure
Introduction to Brent
Hedging instruments: Forward & futures
Refinery products & processes
Swaps
Dated Brent and the BFO market & CFD's
Trends & developments
International product trade flows and transport
Refinery margins & economics
Management issues

Plus

Briefing & refining & trading simulation
Post refining & trading simulation case study

Learn how to optimise refinery margins and manage the profitability of commercial refining. Everyone associated with refining should be profit focused. This Euromoney Energy Training course will provide in-depth knowledge of the refining business and an understanding of how trading/hedging can improve margins and reduce risk.

How this Commercial and Trading Aspects of Oil Refining course will help you

You will:

Understand the refinery configurations and main processes
Define refinery margins and learn about margin evolution and regional variation
Examine refinery economics and assess refinery profitability and performance
Develop skills in trading and hedging
Trade refinery components and feedstocks
Investigate refining in an environmentally conscious world
Assess the future of refining

Briefing & Refining & Trading Simulation

An exciting and challenging team exercise run throughout the course, where participants trade and hedge refinery products. The key objective is to optimise margins and manage profitability in fluctuating market conditions.

"It was a great combination of theory and practice"
- Raiffeisen Bank Ltd

"It was a great learning experience providing rich knowledge in oil trading and other related processes. I loved it."
- Ministry of Energy & Mineral Development - Uganda

"Excellent experienced lecturers. The simulation was excellent."
- Saudi Aramco

Day 1

Overview

Course content
Evolution of oil demand
Refinery location, capacity and utilisation
Regional product consumption and product barrel
Introduction to trading markets

Crude Selection

Nature and types of crude oil/crude assay
GPW and pecking order
Influence on product make
Crude transportation
Base and marginal crude

Physical Oil Markets, Pricing Mechanisms & Price Exposure

Physical oil markets
Pricing mechanisms
Pricing exposure/keeping an exposure book

Introduction to Brent

Introduction to the terms
Role as a benchmark
Why Brent?

Day 2

Briefing & Refining & Trading Simulation (Round 1)

General introduction
Physical (wet) crude trading
GPW and best crude

Hedging Instruments - Forward & Futures

Evolution of the market
Crude oil forward markets
Review of futures contracts & terminology
Hedging example using futures
Basis risk and forward curve
Technical analysis

Briefing & Refining & Trading Simulation (Round 2)

Crude hedging with futures/basis risk
Hedging strategy and position management
Refinery nominations (crude type and mode of operation)

Refinery Products & Processes

The main products
Refinery configurations
Deep residue conversion
How refiners influence yield variations
Overview / summary

Swaps

Swaps terminology and principles
Examples of crude oil and product swaps
Swaps settlement and pay-out

Day 3

Briefing & Refining & Trading Simulation (Round 3)

Gas oil futures and mogas swaps
Developing a trading strategy

Dated Brent and The BFO Market & CFD’s

The Brent forward contract
Brent lifting programme
Linking of the 21 day and Dated Brent markets
Contracts for difference/Brent CFD market

Trends & Developments

Alternative & renewable fuels
Changing crude slate
Transport fuel quality & emissions
Regional demand trends
New plant investment

Briefing & Refining & Trading Simulation (Round 4)

Margin management strategies

International Product Trade Flows and Transport

Differences between Products & Crude
The main product markets
Product price drivers
Product price differentials
Refining Balance
Fundamentals of the various product markets
Power market
Bunker market
Atmospheric residue market
Importance of refining margins
Freight
Arbitrage & trade
Role of traders/blenders

Day 4

Refinery Margins & Economics

Regional margin mechanism
Refinery margins & regional trends
Drivers for margin maximisation
Blending & giveaway
Performance monitoring
New project economics
Capex project- lock-in economics

Case study: post refining & trading simulation

Simulation Results & Briefing for Team Presentations

Management Issues

Control lessons learnt
The major economic risks
Controlling risks

Team’s Refining & Trading Strategy Presentations

Summarising Comments

The first trainer 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
The second trainer 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

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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