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.