Training for the Future


Crude Oil and Petroleum Price Mechanism Dubai

Course Code: COPPM

Dates: 4 Dec - 8 Dec | 30 Apr - 4 May | 3 Sep - 7 Sep | 22 Oct - 26 Oct | 3 Dec - 7 Dec

Price: £2950

Duration: 1 Week /s

Course Objectives

This highly interactive and intensive crude oil & petroleum products and pricing mechanism course will provide the attendees with a comprehensive understanding and knowledge base of the international physical oil trading business from the perspective of both the trader and the supply analyst


Who Should Attend?

Oil Company personnel, Analysts, Management Accountants, Marketers and operators


Prerequisites

None


Course Overview

Overview of world petroleum products markets
Petroleum product supply and demand, Issues and projections for the future
Underling pricing mechanism, Fixed and Floating prices, Contango & backwardation
Petroleum product markets, The regional markets
Forward paper contracts
Long term oil markets: participants, market liquidity, contractual issues, using long term derivatives
Purpose of hedging. Hedging instruments. Hedging strategies
Pure future and options. The futures market: speculation and arbitrage
Petroleum products purchases and sales contract negation and documentation
Operations and logistics
Ship nomination and documentation. Inspection and book-outs. Shipping operations
Terminals trans-shipments and storage
Back office operations including wharfage, demurrage, scheduling
Shipping contracts negotiation
Petroleum products carriers and factors in carrier types selection
Security issues in shipment (security of the products and terrorists concerns)
Safety issues in product shipping
Petroleum Products Trading Terminology
The who, what, and why of product hedging
Hedging venues futures, options and derivatives
Regulated exchanges, types or price risk- absolute risk, credit & performance risk
Margin requirements, Contract settlement, volatility
Forward curve contango and backwardation, crack spreads
Futures codes, Designing a risk management program
How to use a few simple hedging techniques
Charter parties, Laytime and Demurrage
Charter party, types of clauses, concepts of laytime, Demurrage, vessels freight rates
Arbitration, litigation, vessels vetting and performance
Marine custody transfer, petroleum measurement and loss control
Oil measurement, quantification of oil volumes, methods of loss evaluation
Reduction of exposure, Recovery oil loss, Inspection/survey of marine petroleum cargoes
Operations and safety issues
Strategic Planning and Economics


Course Materials

Notes, handouts and exercise materials

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