This course is offered as a five-day program or it can be broken out into two units: Unit One runs for two days and Unit Two runs for three days. In Unit One, attendees learn how refineries select and value various crude oils and how the ‘gross product worth’ within the refinery contributes to establishing the market value and choice of crude oils available in the international marketplace. With Unit Two, attendees learn how to negotiate and cost deals, calculate profitability, charter a ship through a broker, and examine the legal and operational aspects of trading. As decision-makers on a crude oil and refined product trading team, they will gain the skills to manage their trading book, understand risk management instruments, and make decisions using current market pricing of crude oil and refined product markets worldwide as seen in daily price reports from Platts and Argus.
$1,250 – $4,750
Unit One will benefit both those currently involved in the downstream marketing and supply trading undertakings and those that are in associated and support functions to these core marketing functions.
Unit Two will benefit anyone coming into trading from elsewhere in the industry; those in supply and marketing functions looking for a wider understanding of the market; those in oil companies, banks, law firms, accountancy practices, the media, and elsewhere who interface with traders and trading. Those moving into oil markets from the financial markets, or elsewhere, will also find this course beneficial.
Unit One: Supply Chain Essentials
Unit Two: International Oil Trading and Price Risk Management