International Oil Trading: Physical and Paper | RefinerLink

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International Oil Trading: Physical and Paper

By Conference Connection

Jul 18, 2016

Conference on physical and paper oil trading.




From negotiating, through contract writing, calculating shipping costs, determining and managing the risks, a practical step-by-step approach to structure a physical or paper trading deal through the highs and lows of the pricing cycle.



About the Course


This comprehensive oil trading 3-Day course on PHYSICAL & PAPER will guide all delegates through the fundamental principles of oil trading, with practical aspects conducted in a predominantly workshop environment, working in small groups on frequent case studies to develop an understanding of trading practices and risk.   You will learn how to follow a deal from beginning to end, from negotiation to writing a contract, calculate shipping and other costs, fixing a ship, determining the risks and how to manage them.


Key Trading Strategies & Methodologies to be Delivered:


  • How to negotiate and write a contract
  • Develop an understanding of trading practices and risks
  • Determine and manage the risks of a deal
  • Measure price exposure and how to hedge
  • Using swaps and futures
  • Comparing deals and calculating profitability

Small groups and case studies to practice basic hedging strategies for physical & paper



What You will Learn


  • Write a contract for the purchase and sale of crude oil and refined products
  • Measure price exposure and how to hedge it
  • Use swaps and futures to practise basic hedging techniques
  • Trade futures and forwards
  • Negotiate cost and compare physical and paper deals
  • Calculate the freight and the costs
  • Identify and manage the risks in physical oil trading
  • Compare and calculate the profitability of deals
  • Identify corporate and legal issues in physical and paper deals



Who Should Attend


Anyone in the oil industry who needs an understanding of the role of trading (PHYSICAL & PAPER) and price risk management, specially Crude & Product Traders; Pricing & Risk Managers; Middle & Senior Managers; Business Development Managers; Sales & Marketing Managers; Corporate & Strategic Planning Managers; Commercial Managers; Supply Operations Managers; Chartering /Operations Managers; Refinery Planners & Schedulers; Procurement & Purchasing Managers; Retail Managers; Finance & Revenue Managers; Legal / Contract Managers; Company Secretaries; Analysts – Market, Credit, Business, Financial, Power, Trading, Marine & Commercial; as well as Administrators / Logistics / Freight Officers



Who are the Course Directors?


Daniel Carr, Oil Consultant, together with Sally Clubley, designs and runs the Energy Trading module for the MBA course at the Business School of Warwick University in England. Until the end of 2011, he was the European Representative of the HKMEx and previously was Vice President - International Affairs for the New York Mercantile Exchange. Prior to joining NYMEX he spent 13 years as a crude oil and refined products trader with Mabanaft before moving on to be a director of ED&F Man's oil futures broking division, working in both London and New York. Daniel has presented modules on trading and risk management worldwide, many of them with Invincible Energy, a training and consultancy group of which he was a core faculty member. Invincible was taken over by Boston-based IHRDC, an energy training company, in April 2013 and he continued to present courses with them until the end of 2015. Daniel was also a director of the International Petroleum Exchange (now ICE).


Sally Clubley, Oil Consultant is the managing partner of Arktauros, a consultancy company specialising in price risk management in the energy industries. She was also part of Invincible's core faculty and has presented numerous modules on the topics of trading and risk management in oil, gas and power all over the world and went on to do so for IHRDC for several years. She is the author of Trading in Oil Futures and Options and has contributed to various books and journals in the energy and derivatives fields. Previously she managed the oil futures and options desk at ED&F Man International, a major London broker and was on the board of the International Petroleum Exchange (now ICE). She has also worked as a journalist in the chemical industry.

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