This comprehensive oil trading 3-Day course on PHYSICAL & PAPER will guide all delegates through the fundamental principles of oil trading, with practical aspects conducted in a predominantly workshop environment, working in small groups on frequent case studies to develop an understanding of trading practices and risk. You will learn how to follow a deal from beginning to end, from negotiation to writing a contract, calculate shipping and other costs, fixing a ship, determining the risks and how to manage them. In addition, wherever possible real oil market prices and live market conditions will be used in the case studies.
Oil prices continue to be volatile, making an understanding of the mechanisms of market pricing and of trading and price risk management essential for everyone involved in the commercial areas of the oil industry. The past few years have seen volatility across all crude oil and refined products markets. All those involved in the industry, or who need to purchase or sell oil, need to be aware of how these markets work, how to adapt to changing market conditions and how to deal with price uncertainty.
Daniel Carr, Oil Consultant, together with Sally Clubley, designs and runs the Energy Trading module for the MBA course at the Business School of Warwick University in England. Until the end of 2011, he was the European Representative of the HKMEx and previously was Vice President – International Affairs for the New York Mercantile Exchange. Prior to joining NYMEX he spent 13 years as a crude oil and refined products trader with Mabanaft before moving on to be a Director of ED&F Man’s oil futures broking division, working in both London and New York. Daniel has presented modules on trading and risk management worldwide, many of them with Invincible Energy and Daniel worked with them to 2015. Daniel was also a Director of the International Petroleum Exchange (now ICE).
Sally Clubley, Oil Consultant, is the managing partner of Arktauros, a consultancy company specialising in price risk management in the energy industries. She was also part of Invincible’s core faculty and has presented numerous modules on the topics of trading and risk management in oil, gas and power all over the world and went on to do so for IHRDC for several years. She is the author of Trading in Oil Futures and Options and has contributed to various books and journals in the energy and derivatives fields. Previously she managed the oil futures and options desk at ED&F Man International, a major London broker and was on the board of the International Petroleum Exchange (now ICE). She has also worked as a journalist in the chemical industry.
Who Should Attend
Crude, Refined Products Feedstocks Managers
Pricing & Risk Managers
Middle & Senior Managers
Business Development Managers
Sales & Marketing Managers
Corporate & Strategic Planning Managers
Supply Operations Managers
Chartering / Operations Managers
Refinery Planners & Schedulers
Procurement & Purchasing Managers
Finance & Revenue Managers
Legal / Contract Managers
Market, Credit, Business Analysts
Financial, Power, Trading, Marine & Commercial Analysts
Administrators / Logistics / Freight Officers
- THE ROLE OF INTERNATIONAL OIL TRADING
- HOW TO STRUCTURE AND NEGOTIATE A PHYSICAL OIL DEAL
- CHARTERING AND FREIGHT COSTS
- RISKS IN TRADING
- TRADING TECHNIQUES
- CORPORATE AND LEGAL ISSUES
- CASE STUDIES & EXERCISES
"Very close to reality of oil trading. Lecturers are former traders so they know their subject very well"
- Associate Director, ABN AMRO
"Practical examples helped to understand paper and physical trade very well. Course directors are experienced and have good presentation
- Director, Orchid Petrochem FZC
- Business Development Executive, Vogas FZE
"Good case studies"
- Manager, Cosmo Oil International
"It covers basics to understand complex markets"
- Director, Green Petrochem Industry FZC
"Course was interactive and lecturers are good and experienced"
- Commercial Analyst, Oil Search
"Course directors are devoted, enthusiastic, knowledgeable, and experienced"
- Manager, Vietsea Company Pte Ltd
What You Will Learn
- Write a contract for the purchase and sale of crude oil and refined products
- Identify price exposure and how to hedge it
- Use swaps and futures to practise basic hedging techniques
- Trade futures and swaps
- Negotiate cost and compare physical and paper deals
- Calculate the freight and the costs
- Identify and manage the risks in physical oil trading
- Compare and calculate the profitability of deals
- Identify corporate and legal issues in physical and paper deals