£1,150.00
Physical Oil Trading & Contracts is an interactive online course with live presentations and open discussions. Participants will share an online PowerPoint and live whiteboard explanations.
*Participants are expected to have a very basic knowledge of oil markets.
The course will cover physical oil trading deals and how traders look at contracts and clauses, terms and conditions and market practices.
The goal of all traders is to make money or minimize losses; the first step is to create a deal. All the terms of the contract contribute to profits or losses.
Physical Oil Trading and Contracts course will look at a few of those key terms and clauses. As we look at each subject, we will be asking how a trader uses it and how it can help make money.
The course includes exercises which will be done as a group or in breakout rooms as smaller teams. Questions and Discussions are welcome throughout the course.
Physical Oil Trading & Contracts is a Virtual Course delivered through Zoom.
*Starts at: 8AM London | 12PM Dubai | 4PM Singapore
*Ends at: 1PM London | 5PM Dubai | 9PM Singapore
1) u003cstrongu003eOil Trading u003c/strongu003eu003cbru003e- What is trading?u003cbru003e- Who are oil traders and what do they do?u003cbru003e- What is a broker? Why do we use them?u003cbru003e- Market organization: geography and specializationu003cbru003eu003cbru003e2) u003cstrongu003eFundamentals of the Oil Industryu003c/strongu003eu003cbru003e- Exploration and Production: What comes out of the ground?u003cbru003e- Refining: are refineries just black boxes?u003cbru003e- Quick look at refiningu003cbru003e- Refining margins and cracksu003cbru003eu003cbru003e3) u003cstrongu003eHow does the market work?u003c/strongu003eu003cbru003e- How do term and spot contracts change the market?u003cbru003e- Understanding spot deals: Platts and the Marketu003cbru003e- Who uses which type of contract?u003cbru003e- FOB vs. Deliveredu003cbru003e- Inspection and inspectors:u003cbru003e- Measuring quantity: mass and volumeu003cbru003e- Testing quality: typicals, actuals and guaranteesu003cbru003e- Test methodsu003cbru003e- Legal and contractual value of resultsu003cbru003eu003cbru003e4) u003cstrongu003eContracts:u003c/strongu003eu003cbru003e- Why do they exist? Who needs them?u003cbru003e- Clauses and terms: understanding how contracts make moneyu003cbru003e- Key clauses:u003cbru003e- Incotermsu003cbru003e- Quality and quantityu003cbru003e- Delivering timingu003cbru003e- Credit and paymentu003cbru003e- Legal clauses: court, arbitration, Force Majeure, GTu0026amp;C’su003cbru003e- Disputes and resolutions: best solutions in practiceu003cbru003e- What are the risks in physical trading?u003cbru003eu003cbru003e5) u003cstrongu003eTiming and Pricing Oilu003c/strongu003eu003cbru003e- What are benchmarks and price references?u003cbru003e- Choosing the right benchmark.u003cbru003e- Price making and price taking: Who sets the price of oil?u003cbru003e- Price Reporting Agencies and the Market Priceu003cbru003e- Setting pricing dates: Does timing the pricing matter?u003cbru003e- Differentials and premiums: Why do they exist and how do they work?u003cbru003e- Market structure: how contango and backwardation can change the premiumu003cbru003e- Fixed prices, floating prices, EFP and Trigger Pricesu003cbru003e- Brent Crude Oil: Dated Brent and WTIu003cbru003e- OSP’s and market prices
1) u003cstrongu003eFundamentals of moving oilu003c/strongu003eu003cbru003e- Why do traders need or want ships? Buying FOB and buying deliveredu003cbru003e- Types of ships in the market:u003cbru003e- Tankers, dry bulk, cargo and container vessels.u003cbru003e- Clean versus Dirtyu003cbru003e- Sizes and configurations of oil tankers: key measurementsu003cbru003e- Vessel suitability and vettingu003cbru003e- Vessel quality: Is it a “good” ship?u003cbru003e- Compatibility: last three cargoesu003cbru003e- Inspection: SIRE systemu003cbru003eu003cbru003e2) u003cstrongu003eContracts in Shipping: the Charter Partyu003c/strongu003eu003cbru003e- Spot charter, time charter, owning, contracts of affreightmentu003cbru003e- Key terms for negotiating a freight dealu003cbru003e- Timing: laycanu003cbru003e- Quantityu003cbru003e- Price of shippingu003cbru003e- “GTu0026amp;C’s” in shipping: charterparty formsu003cbru003e- Laycan, laydays, laytime and cancelingu003cbru003e- Subjects and fixing: how deals are doneu003cbru003e- Responsibilities: Owner vs. Chartereru003cbru003eu003cbru003eu003cstrongu003e3) The Price of Freightu003c/strongu003eu003cbru003e- Calculating freight costs: the owner’s perspectiveu003cbru003e- Lump sum, $/mt and Worldscaleu003cbru003e- Contractual quantities: minimums and overageu003cbru003e- A look at Worldscale:u003cbru003e- Worldscale Tanker and Flat Ratesu003cbru003e- Worldscale multipliers and commercial ratesu003cbru003e- Calculating freight with Worldscaleu003cbru003e- Demurrage: when the meter runs and runs and runsu003cbru003e- What drives the freight market?
Chris has traded oil and energy in Europe, Africa, the Middle East and Asia during a career that spanned eighteen years. He has worked for an oil major, a top trading company, and investment banks. He has extensive experience in supply and trading for refining systems as well as the challenges of running proprietary physical trading books in Europe, Africa, and Asia.u003cbru003eu003cbru003eHis experience was rounded out with several years of trading derivatives for investment banks in the Asia-Pacific region. Since leaving trading in 2008 has taught finance and trading at top French business schools, presented corporate training in commodities and energy in France and abroad, and consulted with top European companies on trading and contract arbitration.
2-Day Full Course – Physical Oil Trading and Contracts – 1150 GBP
Please note: UK-based companies are subject to 20% UK VAT
u003cstrongu003eThe course fee covers:u003c/strongu003eu003cbru003e- Participation in 8 hour Live Virtual Courseu003cbru003e- The Course materials in e-versionu003cbru003e- Industry Certificate of IBH: 8 CPD hours
Payment options are available in two forms: bank transfer and card payment.
Zoom Delivery
Demonstrate your new skills and gain a step up in your career with globally recognised CPD certifications.
*Special group enrolment pricing
UK-based companies are subject to 20% UK VAT
To be confirmed - To be confirmed
To be confirmed
4 days
30 September - 3 October 2025
Geneva, Switzerland
4 days
To be confirmed - To be confirmed
ICE Europe, London, UK
10 days
13 - 14 May 2025
Zoom delivery
2 days
23 - 24 October 2025
Zoom Delivery
2 days
To be confirmed - To be confirmed
ICE Europe, London, UK
5 days
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