Crude oil valuation and pricing

Crude oil valuation and pricing

Course Code:

COVP

Course title:

Crude oil valuation and pricing

Course summary:

The 3-day course Crude Oil Valuation and Pricing explains how oil refiners select the crude oils to use in their systems from among the 600 plus crude oil streams that are available globally. Beginning with a review of the chemistry of crude oil, and explaining the various quality parameters of different types of crude oil, this course provides a framework for understanding how refiners evaluate different grades of oil within their overall refining slate. The course goes on to explain the different systems currently used for pricing oil around the world, including the operation of the main benchmark grades of Brent (BFOET), Oman/Dubai and WTI crude.

Course details:

The 3-day course Crude Oil Valuation and Pricing explains how oil refiners select the crude oils to use in their systems from among the 600 plus crude oil streams that are available globally. Beginning with a review of the chemistry of crude oil, and explaining the various quality parameters of different types of crude oil, this course provides a framework for understanding how refiners evaluate different grades of oil within their overall refining slate. The course goes on to explain the different systems currently used for pricing oil around the world, including the operation of the main benchmark grades of Brent (BFOE), Oman/Dubai and WTI crude.

Who should attend?

This course will appeal to producers of crude oil, in particular those seeking to market new grades of oil; market analysts and economists evaluating the different grades of oil available in the market; bankers and investment analysts financing the development of new streams of crude oil; lawyers and accounts involved in the valuation of crude oils; marketers of crude oils; refiners looking to diversify their crude slates.

Key objectives:

The crude oil valuation and pricing course aims to provide attendees with a full understanding of the key crude oil qualities; how these affect refining values; refiners’ approach to selecting crude oils; basic calculation tools such as GPW and refining margin; the use of LP models; use of pricing benchmarks and differentials; assessment methodologies of Platts, Argus and their competitors; use of futures contracts; and basic risk management tools.

Course List

Energy and Resources

The Future of Energy

The 2-day Future of Energy Course examines the disruptive technological changes that are shaping the energy landscape, and tracks the potential impact of these on the outlook for traditional fossil fuels.

Energy Data Analysis

This 3-day course on energy data analysis surveys the key datasets used in energy market analysis, including IEA, UN, EIA, OPEC and others. The course explains how to use the traditional daily, weekly, monthly and annual data, and explores the challenge of Big Data in energy market analysis.

Energy Fundamentals

The 2-day course on Energy Fundamentals provides an overview of the supply-demand balance in the oil, gas and coal market and explores the evolving role of renewables in the global energy mix.

Energy Futures and Derivatives Markets

The 3-day course provides an overview of the main energy futures contracts in Europe, the United States, Asia and elsewhere. The course explains the structure and purpose of futures, options, forward and swap deals, and gives examples of how these can be used in risk management. All the main crude oil, refined products, natural gas, LNG, coal and electricity contracts are covered.

Resource Conflicts and their Impact

The 3-day course focusses on the key conflicts around the world that have the potential to disrupt the flow of natural resource and energy commodities. The course assesses the likelihood that these will worsen, and the likely impact on commodity flows depending on the severity of escalation of these conflicts.
 
Crude oil and Refined Products

Oil Market Fundamentals

This course is available as a 1-day Introductory course and also as a more detailed 3-day course. The course covers the regional suppliers of crude oil, the global refining sector, and refined product trends including demand for road transportation fuels, petrochemical feedstocks, heating and power fuels, bunkers and avaition fuel.
 
Crude Oil Pricing and Forecasting
This 2-day course provides an overview of the benchmark pricing system and interprets how forward curves for crude oil futures can be integrated with supply-demand analysis to create consistent and rigorous forecasts for individual crude oils.
 
Refined Products Pricing and Forecasting
This 2-day course provides an overview of refined products pricing mechanisms and interprets how forward swaps curves can be integrated with supply-demand analysis and freight information to create forecasts for refined products in specific locations.
 
Forecasting Crude Oil and Refined Product Prices
This course is available as a 3-day and a 5-day course, depending on the requirements of delegates. The 3-day course provides the key information from Crude Oil pricing and Forecasting and Refined Products Pricing and Forecasting (above). This can be done as a 5-day course through taking a hands-on 2-day workshop designed to test and consolidate the key learnings from the 3-day course.

Introduction to Petroleum Refining

This 1-day course introduces the basics of how oil refineries process crude oil to make finished petroleum products. As well as the basics of what the various refinery units do, the course provides an overview of crude selection, refinery economics, distillation and conversion processes, and the refinery management cycle.
 
Natural Gas and LNG

Gas Market Fundamentals

This course is available as a 1-day Introductory course and also as a more detailed 3-day course. The course covers the regional suppliers of natural gas, including associated/non-associated gas, shale gas and Natural gas Liquids; gas demand from the power, industrial, commercial, residential, and transport sector; gas networks and transportation, including the LNG and regasification sector.
 
LNG Economics and Markets
This 3-day course provides a comprehensive overview of the LNG sector, including liquefaction process, the economics of LNG versus pipe gas, regasification and storage technologies, and the pricing of LNG.

Gas and LNG Pricing and Forecasting

This 1-day course provides an overview of the pricing of natural gas and Liquefied Natural Gas and reviews how pricing trends have evolved in recent years. The course covers the main trading hubs in Europe and the US, and explains the links between oil prices and gas prices in both long-term contracts and spot transactions.
 
The Gas Value Chain
This 1-day course explains the gas value chain from exploration and production to transportation and downstream storage and distribution to the end-users in the power, industry, transport and commercial and residential sectors.
 

Power Sector Fuels

 
Introduction to Gas, Coal and Electricity Markets
This 2-day course provides an introduction to the key markets in Europe, the United States and Asia in which fuels for the power sector are traded. The pricing mechanisms and derivative instruments used are clearly explained. The instruments such as spark and dark spreads that are used to examine the inter-relationship between these markets is also covered.

The Outlook for Gas, Coal, Oil and Renewables in Power Generation

This 2-day course examines historical trends in the use of fossil and renewable fuels in power generation. Based on fundamental analysis of supply-demand trends in each of the fuels, the course builds an outlook for what the future balance of the power mix will be in the near-, medium- and long-term (2020, 2030 and 2050).

Renewables in the Energy Mix

 
Timeline to Low Carbon: The Role of Renewables in the Evolving Energy Mix
The 2-day course reviews the climate commitments of the nearly 200 countries that have signed the Paris Agreement, and examines the strategies to develop renewable energy to which many of the signatories have committed. The course explains the economics of renewable energies including wind, solar, geothermal, biofuels and more.
 
Skills Development

Presentation skills

This 2-day course provides the opportunity for delegates to prepare and make presentations before an audience and then review how the presentation could have been improved in the light of tutor and audience feedback. The course is highly interactive, covering the whole presentation skills cycle including the research phase; slide and visuals preparation; fine-tuning the key points for maximum effect; and the delivery of the presentation. Delegates’ presentations are recorded on video to allow for a full review.

Developing your energy analytical skills

This 2-day course aims to hone the wide range of skills required of an energy analyst. It covers the key data analytics tools used in energy market analysis, but also provides hands on tips for how to communicate the results of your analysis effectively.

Team-Building and Motivation

This 1-day course involves role-playing exercises and team games designed to help you understand the individual roles within teams, and how to harness the divergent energies of those in a group to best effect. The course uses personality and psychometric tests to identify who you are and how you operate, and provides practical tips on how you can use your unique style to get the best results.

Dealing with Conflict

This 1-day course explains the origins of conflicts and explores ways that coaching and mediation can help in their resolution– or in many cases, their successful management. The course focusses on workplace disputes but is intended to provide a range of practical techniques that can be used to defuse conflicts before they have escalated.

Clear and effective business writing

The 2-day course works through a series of real life exercises that require delegates to communicate clearly and effectively in a range of business situations. From basic email skills to writing published reports, this course provides practical tips for writing better English, keeping the interest of readers, and achieving a professional look and tone in corporate reports.
 
 

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