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About
Master the legal, operational, and commercial frameworks governing global energy markets. International Trading Contracts: Crude Oil, Refined Products & Gas is an intensive 2-day virtual masterclass designed to give energy professionals practical, expert-level fluency in drafting, negotiating, and managing sale and purchase agreements.
Delivered across two live modules, this course provides end-to-end coverage of physical and financial contract structures under both European (EU) and worldwide frameworks:
Timings: 09:00 – 13:30 London | 13:00 – 17:30 Dubai | 17:00 – 21:30 Singapore
(Total duration: 4 hours 30 minutes per day, including a 30-minute mid-session break)
Delivered across two live modules, this course provides end-to-end coverage of physical and financial contract structures under both European (EU) and worldwide frameworks:
- Day 1: Crude Oil & Refined Products Contracts – Physical shipping mechanics (FOB/CIF), laytime/demurrage time-bars, Baltic freight, LOIs, benchmark pricing, and refined product specs (Diesel, Gasoil, Petrochemicals, AvGas).
- Day 2: Gas Sale Agreements & LNG Frameworks – EU Virtual Trading Points (EFET Master Agreement, close-out netting, MAC clauses) alongside cross-border gas transit and global LNG MSPAs (DES vs. FOB, Boil-Off Gas, slot allocations).
Timings: 09:00 – 13:30 London | 13:00 – 17:30 Dubai | 17:00 – 21:30 Singapore
(Total duration: 4 hours 30 minutes per day, including a 30-minute mid-session break)
What will you learn?
- Crude oil contract fundamentals (FOB/C&F, shipping, and risk)
- Key contractual nuances for trading refined products
- European gas trading and the EFET master agreement
- Global gas contracts: Non-EU agreements and LNG (MSPA)
- Contract architecture and mechanics, from nomination to credit support
Agenda
Session 1: Crude Oil Contracts & Shipping Operations
Session 2: Commercial Terms & Refined Products Contracts
- Product Description / Quality: Grade parameters, crude assays, and volume tolerances.
- Quality: Contract specs, off-spec provisions, and claim allocation procedures.
- Delivery / Shipping (FOB / C&F): Incoterms® 2020 vs. trade customs; buyer/seller obligations.
- Vessel Nomination: ETA windows, vetting protocols, and safe berth warranties.
- Laytime / Demurrage: 36-hr allowances, NOR validity, exceptions, and time-bars.
- Freight: Freight payable mechanics (Worldscale and Baltic freight rates).
- Inspection Regimes: Independent inspection (SGS/Intertek/Saybolt) and binding Certificates (CoQ).
Session 2: Commercial Terms & Refined Products Contracts
- Price: Benchmark pricing (Platts/Argus/Brent), differentials, and trigger clauses.
- Payment Terms: Letters of Credit, parent guarantees, and LOIs in lieu of original B/Ls.
- Transfer of Risk & Property: Pinpointing risk vs. title transfer and B/L timing.
- Diesel: Commercial quality specifications and compliance.
- Gasoil: Quality parameters, heating oil specs.
- Petrochemicals: Feedstock delivery terms and contamination liability allocation.
- Aviation Fuel (Av Gas): AFQRJPS protocols, dedicated transport rules, and re-testing regimes.
Session 1: EU Natural Gas & EFET Master Agreement
Session 2: Non-EU Gas & LNG
Non-EU Gas:
LNG (Liquefied Natural Gas):
- Settlement: Balances / Shipper Licence: Hub balancing mechanics, capacity booking, and VTP trading.
- Contract Architecture: GT&Cs, Election Sheet, and Confirmations.
- Delivery, Payment and Acceptance: Firm vs. interruptible obligations and nomination matching.
- Transfer of Rights (Title): Title and risk transfer at virtual/physical hubs.
- Compensatory Remedies for Non-Delivery / Off-Spec Gas: Default Quantities, buy-cover/sell-cover damages, and rejection rights.
- Termination Regime + Termination Amount: Events of Default, MAC clauses, and calculation mechanics.
- Close Out Netting: Multi-transaction valuation and legal enforceability.
- Counterparty Credit: Credit Support / Performance Assurance / CSA: CSAs, margin calls, parent guarantees, and Performance Assurance.
Session 2: Non-EU Gas & LNG
Non-EU Gas:
- Differences from EU: Contrast with hub-based trading; long-distance transit frameworks.
- Sale & Purchase: Long-term vs. short-term cross-border supply agreements.
- Nominations of Gas: Entry/exit protocols, flow rates, and tolerance bands.
- Quantity & Quality: Quality standards and off-spec gas handling at borders.
- Transfer of Ownership and Risk: Handover points, tariffs, and pipeline losses.
LNG (Liquefied Natural Gas):
- The MSPA – “Standard” Terms: General Master Terms vs. Confirmations.
- Contractual Architecture: DES vs. FOB terms, Boil-Off Gas (BOG), Heel, and slot allocations.
Participants
Legal /Commercial /Financial /Supply Departments
Lawyers
Economists/Financiers
Contract Managers
Energy Resources Suppliers/Buyers
Operating Issues Managers
Practical Information
International Trading Contracts: Crude Oil, Refined Products & Gas course fee is £1150
Please note: UK-based companies are subject to 20% UK VAT
Please note: UK-based companies are subject to 20% UK VAT
The course fee covers:
- Participation in the live virtual course (8 hours total over two 4-hour modules)
- All course materials in e-version
- An Internationally Recognised IBH Certificate of Completion: 8 CPD hours
- Participation in the live virtual course (8 hours total over two 4-hour modules)
- All course materials in e-version
- An Internationally Recognised IBH Certificate of Completion: 8 CPD hours
Payment options are available in two forms: bank transfer and card payment.
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Certificate
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- We will send you the confirmation by email within 24 hours after you registration.
Yes. Please send the full name, position and company name of new participant 48 hours before course date.
If you notify International Business House in writing or via email up to 30 days before the start date of the course, you will receive a full refund less an administration fee of 100£ of the course fee. In addition if you are unable to attend, the following cancellation charges will apply for written notice received:
If you are unable to attend a course, you are welcome to provide a delegate substitution, up to 24 hours prior to the course at no extra charge.
If you wish to transfer to a different course a 10% admin charge will be made if the transfer occurs between 10-29 days before the course.
If you fail to attend the course on which you are booked and have not given prior notice to International Business House then the course fee will remain payable in full.
This cancellation policy is necessary owing to the strict limitation on attendance numbers. IBH reserves the right to amend or cancel any course, course times, dates or published prices. Changes to course prices, times and dates will be advised 30 days before the course
- 14-29 days before the course: 50%.
- 1-14 days before: 100%.
If you are unable to attend a course, you are welcome to provide a delegate substitution, up to 24 hours prior to the course at no extra charge.
If you wish to transfer to a different course a 10% admin charge will be made if the transfer occurs between 10-29 days before the course.
If you fail to attend the course on which you are booked and have not given prior notice to International Business House then the course fee will remain payable in full.
This cancellation policy is necessary owing to the strict limitation on attendance numbers. IBH reserves the right to amend or cancel any course, course times, dates or published prices. Changes to course prices, times and dates will be advised 30 days before the course
IBH reserves the right to amend or cancel any course, course times, dates or published prices. Changes to course prices, times and dates will be advised before the course start date and any course already paid in full will not be subject to the increased price.
IBH proved delegates with visa support letters once payment has been received.
Please send us to office@ibhouse.net the following information:
If you registered with accommodation IBH will also provide you with hotel booking confirmation. For more information about visa procedure please visit our website or call us +44 (0) 207 183 45 07. Should your visa application be declined, we will provide a full refund of the payment.
Please send us to office@ibhouse.net the following information:
- Your copy of passport
- Company name
- Position
If you registered with accommodation IBH will also provide you with hotel booking confirmation. For more information about visa procedure please visit our website or call us +44 (0) 207 183 45 07. Should your visa application be declined, we will provide a full refund of the payment.
Yes. Any of our open professional excellence courses can be run in-house to meet your company's specific needs. For more information please click here
Paul
Paul is a solicitor qualified in England (1990) and Hong Kong (1993) and registered as a foreign lawyer in Singapore (2018).
Paul has specialised in energy & commodities for his entire career, encompassing physical trading and shipping, commodity finance, and commodity derivatives. He is the founder and managing partner of Mercatis Law, and was previously a solicitor at Reed Smith, a partner at HFW, and Global Head of Commodities Legal at BNP Paribas. He has also held senior in-house counsel positions at Enron Europe Limited and ABN Amro Bank.
He has significant experience in energy, especially Oil & Gas, and will share an overview of all aspects, from trading and shipping physical product, hedging OTC and through futures (including terminal markets/physical delivery), as well as the various financing structures and techniques seen in the energy markets.
He has extensive experience both in disputes (he has litigated or arbitrated in many major jurisdictions) and in transactions; and both in international law firms and in major commodities investment banks, giving him a special insight into other areas of risk related to legal risk (e.g. credit risk, market risk, regulatory risk).
Paul has specialised in energy & commodities for his entire career, encompassing physical trading and shipping, commodity finance, and commodity derivatives. He is the founder and managing partner of Mercatis Law, and was previously a solicitor at Reed Smith, a partner at HFW, and Global Head of Commodities Legal at BNP Paribas. He has also held senior in-house counsel positions at Enron Europe Limited and ABN Amro Bank.
He has significant experience in energy, especially Oil & Gas, and will share an overview of all aspects, from trading and shipping physical product, hedging OTC and through futures (including terminal markets/physical delivery), as well as the various financing structures and techniques seen in the energy markets.
He has extensive experience both in disputes (he has litigated or arbitrated in many major jurisdictions) and in transactions; and both in international law firms and in major commodities investment banks, giving him a special insight into other areas of risk related to legal risk (e.g. credit risk, market risk, regulatory risk).
Belinda
Belinda is a senior legal professional with more than 20 years’ experience in law, regulation, and negotiation relating to Finance across Global Commodities’ Markets and ESG. Belinda recently left Citi after 10 years, where she was MD and General Counsel for the Global Commodities Business and advisor across departments on Environmental and Sustainable Financing and climate risk disclosures. Prior to Citi she led the Global Commodities legal team at Deutsche Bank for 9 years having transitioned there from the Energy and Infrastructure group at Hogan Lovells LLP.
Belinda has been involved in the carbon markets since pre-launch of the EU ETS in 2005, working on the World Bank Prototype fund, the CDM and JI mechanisms and the secondary markets in all types of emissions and renewables certificates globally.
Belinda is now focusing on providing advice to clients from Financial Institutions and Corporates to Not for Profit industry groups and NGOs on disclosures, funding and global markets, in both a transactional and an emerging litigation context, relating to emissions and environmental products.
She lectures and speaks at conferences regularly and is currently collaborating with the Net Zero Lawyers Alliance, IETA and UNIDROIT to help accelerate the mission towards achievement of the Paris Goals.
Belinda has been involved in the carbon markets since pre-launch of the EU ETS in 2005, working on the World Bank Prototype fund, the CDM and JI mechanisms and the secondary markets in all types of emissions and renewables certificates globally.
Belinda is now focusing on providing advice to clients from Financial Institutions and Corporates to Not for Profit industry groups and NGOs on disclosures, funding and global markets, in both a transactional and an emerging litigation context, relating to emissions and environmental products.
She lectures and speaks at conferences regularly and is currently collaborating with the Net Zero Lawyers Alliance, IETA and UNIDROIT to help accelerate the mission towards achievement of the Paris Goals.
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