Invincible Energy

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ITRM - International Oil Trading and Price Risk Management

Course Dates:  26th - 28th March 2012 & 8th - 10th October 2012

Grand Park City Hall - Singapore

Invincible Energy has designed this course to give delegates a comprehensive understanding of international oil trading and price risk management from an Asian perspective.  It is presented through the medium of a fictional trading company and all hedging and trading decisions will be taken by delegates in the market conditions prevailing at the time.  Live market information will be provided through data feeds and daily price reports.

A range of practical hands on exercises will be performed in syndicate groups with comprehensive debriefs to study the consequences of the decisions made.  The course expects a high degree of participation from delegates.

US$ 3,245 per person

Early Bird and Team Fee Discounts available on application

Course Timetable

 
Day 1 Mechanics of trading refined products; price reporting; price discovery; brokers;  chartering a vessel;   calculating freight costs using Worldscale;  futures and spread trading

Day 2  Risks in trading; introduction to price exposure; principles of hedging; forward markets;  Singapore swap markets; international pricing of crude oils; processing arrangements; refinery margin management.

Day 3  Tendering; introduction to options; trading crude oil and DFLs/CFDS; performance and credit; trading controls.

Live trading of futures markets will take place throughout the course.

What will you learn?

From this course you will be able to:

• Negotiate, cost and compare deals, directly and through a broker.
• Write a contract for the purchase and sale of crude oil and refined products.
• Calculate freight costs using Worldscale and charter a ship.
• Trade futures and forward markets for hedging and price risk management.
• Calculate the profitability of deals.
• Manage refinery margin risk.
• Prepare and evaluate a tender.

You will understand:

How prices on the international free markets are established and what influences the markets.

• Crude oil pricing and trading.
• Refined product pricing and trading.
• How OTC markets trade.
• Oil trade finance and documentation.

Who Should Attend?

Anyone wishing to learn about physical and derivative trading and hedging.  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.