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Petroleum Business Workshops
Commercial Oil Operations and Logistics
London, U.K.: February 24-26, 2016 Enroll
This course provides delegates with a comprehensive picture of the importance of operations in the international trading of crude oil and refined products. Delegates will learn the role of operations in the downstream supply chain and how to make the most cost-effective decisions in areas under their control. Exercises, using real-time data available at Thomson Reuters facilities, will demonstrate the effect that prices and freight rates have on decisions and how profit leakage can be understood and controlled. Delegates will benefit from comprehensive debriefs and discussions of the decisions made throughout the course.
By participating in this course, delegates will understand stock management, oil blending, the importance of quality considerations, the interaction between operators and traders, and operational factors that have an effect on profitability. They will learn the impact of price exposure and price risk management on traders’ decisions and the knock-on effects for operations, as well as the essential areas of documentation and legal issues surrounding trading. Delegates will also gain the skills to use Worldscale to charter a ship.
Economics of Refining for Traders
London, U.K.: March 17-18, 2016 Enroll
This two-day course explores the main processes in a refinery, their capabilities, and their constraints. The course will build an understanding of crude oil selection and the effects of crude quality on key properties of intermediate and finished products; delegates will also learn to identify the value and opportunities presented by quality slacks. The course balances formal lectures with team exercises and plays, emphasizing the commercial aspects of the interaction between refinery activity and international oil trading.
Working in teams, delegates will discover key trading profit opportunities through a Processing Deal at a fictional refinery. The Deal has the advantage of enabling this highly flexible complex refinery to run at near capacity, while highlighting the ways in which the capabilities of its hardware and the qualities of its product pools generate opportunities for making additional profits. The delegates’ ability to identify, evaluate, and fully exploit these opportunities will provide additional gains to the refinery. Throughout the exercises, delegates will benefit from comprehensive debriefs to study the consequences of their decisions.
Petroleum Project Economics and Risk Analysis
London, U.K.: May 9-13, 2016 Enroll
This program teaches participants how to analyze, in a practical and realistic manner, the financial performance of oil and gas investments from both project and corporate perspectives. Attendees are asked to build financial models for typical oil and gas projects, calculate the standard measures of project performance (PV, IRR), and incorporate all project risks into the analysis using such processes as tornado diagrams, decision trees, scenario analysis, portfolio analysis, and Monte Carlo simulation. A major part of the learning is achieved through team participation in a challenging business game, in The Republic of Oceana, where each team analyzes a major upstream project and presents their pre-development recommendations and post-development results to the Board.
Oil Price Risk Management
London, U.K.: May 11-13, 2016 Enroll
London, U.K.: November 16-18, 2016 Enroll
During this three-day program, delegates build a sound understanding of the markets, gain practical experience in selecting and using a variety of risk management instruments, and learn strategies for their use in hedging and price management. The course will also cover the value of optionality, management control, and risk measures through numerous exercises.
As part of a trading team, delegates identify and manage the price risks of their trading book. They will trade the full range of derivative markets, most of them in real-time, using prevailing market prices from Reuters, Platts, and Petroleum Argus. As market conditions change over time, delegates will compare the performance of different instruments and learn to choose the appropriate one to meet their objectives, taking into consideration the associated costs and risks.
International Gas Business Workshop
London, U.K.: November 7-11, 2016 Enroll
This five-day program is designed for individuals who wish to obtain a comprehensive understanding of today’s international gas business. This intensive program covers the complete gas and gas-liquids value chain - upstream, midstream and downstream - including the technical, economic, commercial, regulatory and market fundamentals that drive the industry today. The instructional format consists of a careful balance of lectures by experienced experts and a proprietary “business game” that allows participants, working in teams, to internalize the learning.