Gas market fundamentals

Course title: Gas market fundamentals
Course Code: GASFUN
Course summary: The 3-day course Gas Market Fundamentals explains the key drivers of the oil, gas, coal and power markets, and the interactions between the competing fuels. The course outlines the three main forecasting techniques: fundamental analysis, technical analysis and econometric analysis, and explains their relevance to forecasting energy prices in particular time frames. An approach to forecasting energy prices is outlined, using a model of substitution between the competing fuels depending on prices and environmental constraints. Key exogenous factors that may impact energy prices are identified, and consideration is also given of the potential impact of new technology on the fundamentals of supply and demand for each of the fuels in the future. The use of high/low and base case scenarios, and the concept of nominal and constant dollar forecasts are explained.
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Forecasting crude oil and oil products prices

Course title: Forecasting crude oil and oil products prices
Course Code: FCPP
Course summary: The 4-day course Forecasting Crude Oil and Oil Products Prices explains the key drivers of crude oil and oil product prices, and explains how these can be forecast in a logical and consistent manner over different time frames. The course outlines the three main forecasting techniques: fundamental analysis, technical analysis and econometric analysis, and explains their relevance to forecasting oil prices in particular time frames. An approach to forecasting oil products prices based on crude oil prices is outlined, using a model of refining margins and then allocating the oil product crack spreads within this framework based on the fundamental supply-demand outlook for individual oil products. Key exogenous factors that may impact prices are identified, and consideration is also given of the potential impact of new technology on the fundamentals of supply and demand in the future. The use of high/low and base case scenarios, and the concept of nominal and constant dollar forecasts are explained.
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Energy Trading, Pricing and Regulation

Course title: Energy Trading, Pricing and Regulation
Course Code: ETPR
Course summary: The 2-day course Energy Trading, Pricing and Regulation explores how recent regulations relating to the trading and pricing of energy commodities including oil and gas affect companies engaged in energy commerce. New regulations have been put in place in the US and Europe covering the trading of physical commodities and derivatives, making companies and their staff liable in the event of market manipulation and uncompetitive behaviour. Following the LIBOR scandal, governments around the world are tightening the noose on commercial activities that have been accepted and even condoned in the past. Signalling of price action between competitors, the use of leverage in trading, and the potential for collusion are all minefields for companies, and the fact that legislation is often recent and untested makes companies vulnerable.
This course provides details of recent European legislation including EMIR, MIFID, and the EU benchmarks proposal, as well as the wide ranging Sarbanes-Oxley and subsequent regulations governing derivatives, and looks at how the landscape is likely to change in the future.
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Energy Fundamentals

Course title: Energy Fundamentals
Course Code: ESCF
Course summary: The 4-day course Energy Fundamentals explains the value chain from upstream to downstream for oil, gas and coal, and examines how renewable forms of energy fit in to the overall energy supply-demand picture. This course looks at the economics of exploration and production for each of the major fossil fuels, and the value chain that links these upstream developments with the final consumer in the power sector, industry, transport, commercial and residential. The supply and demand for each of the fuels is analysed on a regional basis, with balances in each region being built up into a model of typical trade flows. This course looks at he whole value chain from the extraction and processing of the various fuels, through to storage and distribution and ultimately the retail network.
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Forecasting Energy Prices

Course title: Forecasting Energy Prices
Course Code: FEPR
Course summary: The 4-day course Forecasting Energy Prices explains the key drivers of the oil, gas, coal and power markets, and the interactions between the competing fuels. The course outlines the three main forecasting techniques: fundamental analysis, technical analysis and econometric analysis, and explains their relevance to forecasting energy prices in particular time frames. An approach to forecasting energy prices is outlined, using a model of substitution between the competing fuels depending on prices and environmental constraints. Key exogenous factors that may impact energy prices are identified, and consideration is also given of the potential impact of new technology on the fundamentals of supply and demand for each of the fuels in the future. The use of high/low and base case scenarios, and the concept of nominal and constant dollar forecasts are explained.
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