Course Summary

In this introductory workshop, delegates will gain an in-depth understanding of how the physical crude oil trading market works. Besides an invaluable exposure to terminology, each delegate will experience all the steps in typical domestic and foreign crude oil transactions. We’ll explore the linkage between new well production, marketing, transportation and storage, as well as refining to physical trading (both speculatively and as a hedge vehicle).

16 CPE credits awarded for this course.

Delivery Method: Group-Live

Who Should Attend?

Class delegates include anyone who has a requirement or interest in understanding the mechanics of physical crude oil trading and operations. This typically includes trading and contract analysts, personnel from upstream pipeline and marine operations, product supply, refinery operations, information technology, accounting, those new to the industry and crude oil trading staff all the way up to middle and senior management new to this trading discipline.

Prerequisites

As this is an introductory course, there are no prerequisites.

Pre-classroom Study

As part of our blended learning package, this workshop has a specific web-based course which is recommended as pre-classroom study. Upon registering for the workshop delegates will receive details of how to access the web-based course. Access to the web-based course is included in the price of the classroom course. To optimize your classroom experience, it is recommended you take the appropriate online study as close to the classroom date as possible. The recommended pre-classroom study for this workshop is PrincetonLive.com's An Introduction to the Oil Industry.

Course Contents

• The major components of physical crude oil operations
• The worldwide logistics of crude oil (wellhead to refinery)
• International and domestic trading patterns and major trade locations
• How crude oil is selected and optimized by a refiner
• Major price components
• The art of the trade and verbal counter-party negotiations
• Spot vs. term deals - critical path steps of a typical crude oil negotiation
• Crude contract terminology, credit instruments and legal issues
• Pipeline and marine nomination procedures
• How to maximize profit from trading strategies and operations
• An overview of fundamental and technical analysis and hedging strategies

Plus: An exciting trading simulation where you will actually apply what you have learned!

The following course(s) are available..

Date / No of days	Location	Fee: Course only	Fee: + accommodation	Code
21 - 22 Sep 2010 (2)	London, UK	GBP£1140 + 17.5% VAT	- n/a -	CT\CGBR10
25 - 26 Oct 2010 (2)	Houston, TX	USD$1530	- n/a -	#CT102510
15 - 16 Nov 2010 (2)	Cape Town, South Africa	GBP£1140	- n/a -	CT\ARSA10
15 - 16 Nov 2010 (2)	Calgary, AB	USD$1530 +5% GST	- n/a -	#CT111510
29 - 30 Nov 2010 (2)	Rome, Italy	GBP£1140	- n/a -	CT\AITA10
6 - 7 Dec 2010 (2)	Zug, Switzerland	GBP£1140	- n/a -	CT\ACHE10