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OOL - Oil Operations and Logistics  

 

Course Dates : 22nd - 24th September 2014

Thomson Reuters Academy - Geneva, Switzerland 

Course fees: CHF 3,550 per person


This course is designed to give delegates a comprehensive picture of the importance of operations in the international trading of crude oil and refined products. Delegates will learn the role of operations in the overall downstream supply chain and how to take the most cost-effective decisions in the areas under their control. Exercises are used throughout the course to demonstrate the effect prices and freight rates have on decisions taken and how profit leakage can be understood and controlled. Ample time is given to comprehensive debriefs and discussions of the decisions made.  Real time prices will be available using Thomson Reuters facilities.

By the end of the course delegates will be able to use Worldscale, to charter a ship and to see the impact operations has on the oil trading profitability. They will understand stock management and oil blending and the importance of quality considerations. The interaction between operators and traders will be addressed along with those operational factors which affect profitability. The impact of price exposure and price risk management on traders’ decisions and the knock-on effects for operations are also examined. The course will also cover the essential areas of documentation and legal issues surrounding trading.

Subjects Covered

Background Fundamentals

  • Introduction to the oil supply chain 
  • Understanding physical markets
  • Price reporting
  • Product distribution

Quantity & Quality Measurement

  • Crude oil considerations
  • Refined product considerations
  • Blending activities 
  • Importance of inspectors

Stocks & Storage

  • Need for storage
  • Stock management
  • Problem areas
  • Tax considerations

Operating Procedures

  • Importance of operations in trading 
  • Role of the operator versus trader
  • Trading costs 
  • Impact of operations on trading profit 

Shipping and Chartering

  • Tankers & chartering
  • Freight costs & Worldscale
  • Documentation requirements
  • Impact of demurrage
  • Losses

Performance and Credit

  • Client/counter part risk 
  • Documentation
  • Credit assessment

Risks, Exposure & their Management

  • Risks in trading activities
  • Basics of exposure 
  • Concept of hedging
  • Risk management tools 

Contracts

  • Intepretation of contracts 
  • Legal issues

Control Mechanisms

  • Controls & authorities
  • Deal conclusion procedures 

Who Should Attend?

Those new to oil operating procedures or those needing to understand the importance of operations on trading profitability. This would include back and middle office personnel such as finance, banking, shipping and any other service supporting the front office and could include those managing trading functions who wish to eliminate profit leakage.

To obtain more information please contact:
Anne Barton, Invincible Energy, Westport House, Bentley, Farnham, Surrey GU10 5HY, UK. 

Tel: +44 1420 22862       e-mail: learning@invincible-energy.com