Invincible Energy

ITRM - International Oil Trading and Price Risk Management

 

2011 Course Dates : TBC 

Geneva, Switzerland

This course is designed to give delegates a comprehensive picture of the markets, risks and activities involved in the international trading of crude oil and refined products. It is presented through the medium of Invincible's fictional oil company and trading and hedging decisions are taken by delegates in numerous exercises illustrating all the major learning areas.  These exercises use live market conditions throughout the course, demonstrating the effect of moving prices on their positions.  Ample time is given to comprehensive debriefs and discussions of the decisions made.

By the end of the course delegates will be able to negotiate, cost and compare physical deals and write contracts for the sale of crude oil and refined products.  They will also be able to use Worldscale, to charter a ship and to caulculate the profitability of deals.  They will also understand the hedging instruments used in the industry and determine price exposure.  All these skills will be added to an understanding of the international markets and their risks and how prices are formed and disseminated.  The course will also cover the essential areas of documentation and legal issues surrounding trading.

Course fees:  TBC

Discounts available for Members

of the Geneva Trading and Shipping Association - GTSA

Subjects Covered

Introductory Material

• Introduction to trading and markets
• Price reporting

Products Trading

• Mechanics of trading products
• Oil broking
• Costings
• Comparing alternative outlets

Risk and Exposure

• Risks in trading
• Price exposure

Risk Management Instruments

• Futures markets
• Forward markets
• OTC instruments
• Introduction to options
• Comparison of instrument

Risk Management Techniques

• Hedging with futures and swaps
• Spread trading
• Refinery margin management

Crude Oil Trading

• International pricing of crude oils
• Trading BFO and DFL/CFDs

Shipping and Chartering

• Chartering
• Freight costs
• FFAs

Performance and Credit

• Client/counter part risk
• Documentation

Contracts

• Negotiating a deal
• Writing a contract
• Legal issues
• Tendering

Trading Controls

• Management of trading activities

Who Should Attend?

Those in trading, operations or risk management who need an understanding of each other's areas;  those in finance, accounting, banking and the legal profession who need an understanding of the international oil market

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 

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