Course Summary

Those who attend will learn how companies search for crude oil and natural gas (exploration) and about how the material is brought up from underground (production). In addition, attendees will learn the basics of petroleum refining, transportation by vessel, pipeline, and truck, and be exposed to refined product marketing. Some discussion of the trading of physical crude oil and refined products is included in this course as well as the basics of 'paper' trading.

8 CPE credits awarded for this course.

Delivery Method: Group-Live

Who Should Attend?

Class delegates include anyone who needs to understand the petroleum industry. New members of the industry will be given a great introduction. Marketing personnel will grasp the intricacies of how the products they market come to exist. Those from the service side of the industry (brokerage, software, consulting) will also be given a great introduction to the petroleum industry.

Prerequisites

There are no prerequisites for this programme.

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

• Various methods used to locate deposits of crude oil and natural gas
• Geological formations and how they were created
• World crude oil reserves - their size and location
• Reserves/production ratios
• Drilling methods
• Explanation of production vocabulary
• Offshore drilling methodology
• Primary, secondary and tertiary recovery methods
• Properties of crude oil
• Comparison of the value of various crude oils
• Products produced from petroleum refining
• The three major areas of a petroleum refinery
• Overview of various operating units in a 'typical' petroleum refinery
• Information associated with ocean going oil vessels
• Basics of petroleum pipelines
• Moving petroleum by rail and by truck
• Distribution of petroleum products
• History and structure of the industry
• Oil pricing and markets