Course Description:
This course is designed to improve the hands-on know-how of participants whose functions have to do with crude oil shipping in whatever form. It has been designed for practical purposes; particularly to draw knowledge from more experienced people in the global industry. The combination of crude oil marketing and shipping operations in a single course underpins the relevance of comprehensive understanding of the critical phases in the logistics of selling and safe delivery of crude oil parcels globally. The inclusion of a visit to Lloyds’ office and possibly to the London Exchange where crude oil is traded daily also brings to bear the practical nature of the program.
Course Contents:
1. Overview of World Oil Markets
- Crude Oil Supply and Demand
- OPEC and Non-OPEC Supply & Strategies
- Issues & Projections for the Future
2. Crude Oil Physical Characteristics, Classifications & Specifications.
3. Pricing
- Underlying Pricing Mechanism
- Fixed & Floating Prices
- Contango & Backwardation
4. Crude Oil Markets
- The Regional Markets
- Forward Paper Contracts
- Long Term Oil Markets: Participants, Market Liquidity, Contractual Issues,
- Using Long term Derivatives
4. Hedging
- Purpose of Hedging
- Hedging Instruments
- Hedging Strategies
- Pure Futures & Options
6. The Futures Market: Speculation and Arbitrage
7. Crude Oil Purchase and Sales Contract Negotiation & Documentation
Who Should Attend?
- Crude Oil Shipping Coordinators / Supervisors
- Crude Oil /Gas Marketers, Corporate Planners
- Finance & Accounts Staff, Officer in charge of Revenue Accounting
- Commercial Officers, Business Development Staff, Security Managers
