2012 Global Course Offerings

World-Class Training for Energy Business Professionals
2012
Global Course Offerings
www.oxfordprinceton.com
HARNESS THE ENERGY OF TRAINING

The Oxford Princeton Programme, Inc. is the world's leading provider of education and training to the energy and derivatives markets. Courses are designed by renowned faculty for all levels of expertise and include views on oil, natural gas, power, renewables, trading, hedging, risk management and a variety of other topics. Companies and individual professionals can choose from a wide array:
INSTRUCTOR-LED
Thousands of professionals have discovered world-class courses in which they experience comprehensive and cutting-edge learning accompanied by real-time discussion. They interact with pre-eminent market experts and network with the industrys best and brightest. Over 250 courses are offered across the world in 2012. Visit our website for an up-to-date course schedule.
IN-HOUSE/ON-SITES
In some cases, a company may prefer to bring the training in-house. This option is ideal for organisations that want to train a team or several individuals without the added expense of travel and time away from work. Courses are available off-the-shelf or can be customised to address challenges and opportunities specific to your business which remain completely confidential. Come to us with your training goals and let us assist in the design of a course exclusive to your enterprise.
INTERNET-ENABLED/WEB-BASED
Convenient, self-paced e-learning is available 24 hours a day, 7 days a week and is accessible from any internet-enabled computer worldwide. This flexible option is ideal for busy professionals whether they are new hires or seasoned managers. We offer a broad library. Individual course purchase as well as corporate access, licensing and multiple voucher contract discounts are available. A full list is available at www.princetonlive.com.
We are constantly updating our course schedule. For the latest on dates, locations and titles, please visit www.oxfordprinceton.com.
The Oxford Princeton Programme, Inc. is not affiliated with Princeton University, Oxford University, or Oxford University Press. Catalogue Version 01/12
2012
Global Course Offerings
Choose from one or more of our training experiences to meet your needs: GOLD
Courses run a variety of lengths up to five days therefore providing the depth and breadth necessary to cover a subject, general or specialised, comprehensively. Instruction includes lectures, team-driven simulations and case studies throughout. As an option, a Diploma in International Oil Supply and Trading as well as a Certificate in Derivatives Pricing, Hedging and Risk Management are awarded for completion of a required series of courses. Ongoing interaction with faculty as well as fellow industry professionals ensures solid networking and cross-learning opportunities. For Oxford-based courses, delegates can also choose the accommodation package and a class dinner is organised for at least one night during the course.
SILVER
Courses run mostly one to two days and are designed as overviews or surveys on various energy and derivatives subjects. They are led by a roster of expert instructors who provide a mix of lectures, case studies and shorter team-driven simulations when appropriate. These are ideal for new industry entrants and hires or professionals who seek a tutorial on a particular topic. In most cases, a web-based pre-study module is available to ensure key terms and concepts are introduced ahead of time.
BLUE
Courses are available as self-paced web-based sessions accessible 24/7 from any Internet-enabled computer. They serve as standalone modules that can also compliment gold or silver courses. Titles can be found in our library at www.princetonlive.com.
Table of Contents
Guide to Course Icons ........................................................................................................................................................6 Competency Paths, Customised On-Sites/In-House Training, Postgraduate Diploma and Certification Programmes...........................................................................................7 Diploma in International Oil Supply and Trading.......................................................................................................8 Certificate in Derivatives Pricing, Hedging and Risk Management/BAC Accreditation.................................9 Continuing Professional Education (CPE) and Continuing Professional Development (CPD) Credits...........................................................................................................................................10 BUSINESS ANALYSIS AND PROJECT FINANCE ........................................................................................................11 Analyzing Energy Companies - A Practical Approach for Non-Finance Managers (AEC) ..........................12 Energy Project Finance - A Practical Approach for Non-Finance Managers (APF) .....................................13 Energy Sector Capital Investment: Project Management Orientation (PMO) ................................................14 TRADING DERIVATIVES, HEDGING AND RISK MANAGEMENT..........................................................................15 Fundamentals of Energy Futures (FOEF) .....................................................................................................................16 Options I - Fundamentals of Energy Options (FOEO) .............................................................................................17 Energy Risk Management (ERM) ...................................................................................................................................18 Options II - Options Pricing and Applications (OPA)..............................................................................................19 Options III - Option Strategies (OS)..............................................................................................................................20 Options IV - Exotic Options (EXO).................................................................................................................................21 North American Gas and Power Trading and Risk Management (NAGP) ........................................................22 European Gas and Power Trading (EGPT)....................................................................................................................23 Fundamentals of Natural Gas Basis Trading (NGBT)................................................................................................24 Fundamentals of Technical Analysis (TA)....................................................................................................................25 Advanced Technical Analysis and Technical Trading (ATA) ...................................................................................26 Front to Back Office: Trading Controls and Best Practices (FTBO) .....................................................................27 Compliance, Ethics and the Role of the Middle Office (FTBOII)..........................................................................28 Value-at-Risk: The Basics and Beyond (VAR).............................................................................................................29 Energy Derivatives Markets, Instruments and Hedging (DPH1) ..........................................................................30 Energy Derivatives Pricing, Hedging and Risk Management (DPH2).................................................................31 Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) ............................................32 Trader Psychology The Discipline and Methods to Trading Success (TPS)....................................................33 A Disciplined Approach to Asset-Based Trading in Oil Markets (ABT) ..............................................................34 Liquidity and Counterparty Risk Management (LCRM) .........................................................................................35 Power Hedging and Risk Management for Utilities (PRM)...................................................................................36 Overview of Physical Crude Oil Trading and Operations (CT)...............................................................................37 Overview of the Physical Trading of Petroleum Products (PT) ............................................................................38 Oil Trading Orientation (OTO).........................................................................................................................................39 Introduction to Emissions Trading (EM)......................................................................................................................40 International Oil Supply, Transportation, Refining and Trading (SP1) ..............................................................41 International Oil Trading and Pricing (TR1) ...............................................................................................................42
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Table of Contents
The Use of Advanced Instruments in International Oil Price Risk Management (TR3)................................43 Total Risk Management in the International Oil and Derivatives Market (TRM)...........................................44 The Synergies of Refining, Trading and Supply (TRR).............................................................................................45 International Oil Trading - A Practical Approach to the Legal Issues for Successful Management of Claims and Disputes (TRL).............................................................................................................46 International Trading Operations Practice (TROP).....................................................................................................47 Trading and Operations Within the International Oil Markets (TRSA)..............................................................48 Principles of International Oil Trading (TR0) .............................................................................................................49 International Oil Trading - Advanced Techniques and Strategic Price Risk Management (TR2)..............50 Trading Operations Practice (TRSQ) ..............................................................................................................................51 Tanker Ownership, Chartering and Operations (TD2) .............................................................................................52 Tanker Ownership, Chartering and Operations (TD2E) ...........................................................................................53 The Chemicals Shipping Market - Chartering and Operations (TD3) ................................................................54 Tanker Ownership and Chartering - Advanced Strategies and Risk Management (TD4)............................55 Aviation Fuels: Supply, Trading and Risk Management (AV1) .............................................................................56 BIOFUELS/ETHANOL..........................................................................................................................................................57 The Emerging Ethanol Energy Markets: A Comprehensive Overview (ETNL) ..................................................58 Introduction to Renewable Energy: Resources, Technology and Commercial Opportunity (REN)...........59 A Biofuels Overview (BFO)...............................................................................................................................................60 OIL INDUSTRY .....................................................................................................................................................................61 Introduction to the Downstream Oil Business (DOB) .............................................................................................62 Downstream Sales & Marketing (DSM) .......................................................................................................................63 Upstream Oil and Gas Industry - The Full E&P Picture (EXP1) ............................................................................64 Overview of the Petroleum Industry (OPI) .................................................................................................................65 Overview of the Physical Trading of Petroleum Products (PT) ............................................................................66 The Changing Geopolitics of Oil and Gas: Identifying and Managing Political Risk (GEOP) .....................67 Overview of and Opportunities in Latin American Crude Oil (LACO)................................................................68 Overview of Physical Crude Oil Trading and Operations (CT)...............................................................................69 Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) ................................................70 Fundamentals of Refinery Economics and Blending (FREB).................................................................................71 Oil Trading Orientation (OTO).........................................................................................................................................72 Communicating and Negotiating Major Contracts in the Oil and Gas Industry (CNOG) ...........................73 International Oil Supply, Transportation, Refining and Trading (SP1) ..............................................................74 International Oil Trading and Pricing (TR1) ...............................................................................................................75 The Use of Advanced Instruments in International Oil Price Risk Management (TR3)................................76 Total Risk Management in the International Oil and Derivatives Market (TRM)...........................................77 The Synergies of Refining, Trading and Supply (TRR).............................................................................................78 Fundamentals of Refining and Supply Economics (TRFE) .....................................................................................79 International Oil Trading - A Practical Approach to the Legal Issues for Successful
Table of Contents
Management of Claims and Disputes (TRL).............................................................................................................80 International Trading Operations Practice (TROP) ...................................................................................................81 Trading and Operations Within the International Oil Markets (TRSA)..............................................................82 Principles of International Oil Trading (TR0) .............................................................................................................83 International Oil Trading - Advanced Techniques and Strategic Price Risk Management (TR2).............84 Trading Operations Practice (TRSQ)..............................................................................................................................85 A Disciplined Approach to Asset-Based Trading in Oil Markets (ABT) ..............................................................86 LPG - Supply, Economics, Markets and International Trading (LP1)..................................................................87 International LPG Trading and Pricing - Supply, Shipping Contracts and Risk Management (LP2)........88 LPG Trading and Pricing - Shipping, Contracts and Price Risk Management (LP0)......................................89 Introduction to Emissions Trading (EM)......................................................................................................................90 Retail Marketing - Maximising Outlets and Networks (RM0)..............................................................................91 Network Planning and Asset Management for Professional Retailers (RMNP) .............................................92 Blending and Product Quality (TRB).............................................................................................................................93 The Emerging Ethanol Energy Markets: A Comprehensive Overview (ETNL) ..................................................94 Introduction to Renewable Energy: Resources, Technology and Commercial Opportunity (REN)...........95 A Biofuels Overview (BFO)...............................................................................................................................................96 Gasoline and Diesel Fuel Technology (GDT1).............................................................................................................97 Advanced Gasoline and Diesel Fuel Technology (GDT2) ........................................................................................98 Aviation Fuels: Supply, Trading and Risk Management (AV1) .............................................................................99 Technical and Operational Aspects Involved in the Handling of Aviation Fuel (AF1) ...............................100 Fundamentals of Oil, Petrochemicals and Gas Shipping (TD1)..........................................................................101 Tanker Ownership, Chartering and Operations (TD2) ...........................................................................................102 Tanker Ownership, Chartering and Operations (TD2E).........................................................................................103 The Chemicals Shipping Market Chartering and Operations (TD3).................................................................104 Tanker Ownership and Chartering - Advanced Strategies and Risk Management (TD4)..........................105 A Practical Understanding of Commercial Risks in Laytime and Demmurage (TDL)..................................106 The Tanker Market - Managing the Downturn, Anticipating the Upturn (TDS)..........................................107 Residual and Bunker Fuel Oil: Understanding the Supply Chain, Price Drivers and Technical Aspects (MFM1)..................................................................................................................................108 Understanding the International Petrochemicals Business - Technology, Markets and Economics (CH0)....................................................................................................................................................109 Petrochemical Markets and Economics - The Impact of Feedstocks and Costs on Competitiveness and Business Strategy (CH1) .....................................................................................................110 Petrochemical Markets and Economics - The Impact of Feedstocks and Costs on Competitiveness and Business Strategy (CH10)....................................................................................................111 Overview of Petrochemical Processes, Catalysts and Markets (PPCM) ...........................................................112 The Aromatics Business - Markets and Economics (CH5)....................................................................................113 The Olefins Business - Markets and Economics (CH6)..........................................................................................114 Understanding the Global Lubricants Business Regional Markets, 4
Table of Contents
Economic Issues and Profitability (LB1)..................................................................................................................115 Lubricants Refining and Manufacturing (LB5) .......................................................................................................116 Energy Value Chain (EVC)...............................................................................................................................................117 NATURAL GAS AND POWER INDUSTRY ..................................................................................................................118 Upstream Oil and Gas Industry - The Full E&P Picture (EXP1) .........................................................................119 Overview of the North American Natural Gas Industry (NANG)......................................................................120 North American Natural Gas Transportation and Storage (NGTS)...................................................................121 North American Gas and Power Trading and Risk Management (NAGP)......................................................122 European Gas and Power Trading (EGPT) .................................................................................................................123 Overview of the European Natural Gas Industry (ENG) ......................................................................................124 Exploring European Natural Gas Markets (EEGM).................................................................................................125 Communicating and Negotiating Major Contracts in the Oil and Gas Industry (CNOG).........................126 Overview of the Global LNG Industry (LNG) ...........................................................................................................127 Global LNG The Complete Supply Chain (LNG1)................................................................................................128 International LNG Contracts- Commercial Factors and Negotiations (LNG5)..............................................129 LNG Shipping: The Centre of Global Gas Supplies - Harmonising the Upstream, Downstream and Mid Stream (TDLNG) ............................................................................................................................................130 International Gas Contracts - Commercial Factors and Negotiations (NG5) ...............................................131 The Gas Chain Concept - Industry Structure, Economics and Pricing (NG3) ...............................................132 Overview of and Opportunities in Latin American Natural Gas (LANG) ........................................................133 The Changing Geopolitics of Oil and Gas: Identifying and Managing Political Risk (GEOP) ..................134 Natural Gas in the Competitive Electricity Generation Market (NGPG) ........................................................135 Fundamentals of Natural Gas Basis Trading (NGBT).............................................................................................136 Energy Value Chain (EVC) ..............................................................................................................................................137 Overview of European Electric Power Markets (EEP) ...........................................................................................138 Overview of the North American Electric Power Industry (ET).........................................................................139 Introduction to Emissions Trading (EM) ...................................................................................................................140 WEB-BASED TRAINING .................................................................................................................................................141 Web-Based Training...............................................................................................................................................142-149 Faculty........................................................................................................................................................................150-157 Index by Date...........................................................................................................................................................158-162 Index by City ............................................................................................................................................................163-167 Registration Forms .................................................................................................................................................168-169
Guide to Course Icons

PRE-TESTING To ensure proper placement, an assessment test is available for this course. Please see specific course description online for access to test. AVAILABLE AS AN ON-SITE (IN-HOUSE) Course can be brought to a clients location of choice and offered either off the shelf (same outline as that of a publicly scheduled session) or customised to meet specific training objectives and needs. Call us to find out more. ELIGIBLE FOR DIPLOMA PROGRAMME This course, in conjunction with a set of other courses, can lead to the awarding of an internationally industry-recognised diploma. For more information, please see pages 7-9. ELIGIBLE FOR CERTIFICATE PROGRAMME This course, in conjunction with a set of other courses, can lead to the awarding of a certificate in Derivatives Pricing, Hedging and Risk Management. For more information, please see pages 7-9. INCLUDES WEB-BASED PRE-STUDY MODULE This course is accompanied by a preparatory course available online. Delegates will receive a web voucher as part of their joining instructions upon confirmation of registration. By taking advantage of this blended learning approach, in-class time and learning are optimised. ACCOMMODATION PACKAGE AVAILABLE This course offers delegates the option to pay a single fee that includes both the course and a hotel room convenient to the course venue. Delegates who arrange their own accommodations are charged only the course fee. LAPTOP REQUIREMENT A laptop with an up-to-date version of Excel software is required in order to engage in market data. For all other courses a laptop is recommended. CPE ACCREDITATION Course is eligible for North American Continuing Professional Education (CPE) Credits. 8 CPE credits are awarded for every training day and 2 CPE credits for each web-based course. For more information, please see page 10. CPD CERTIFICATION Course is eligible for UK Continuing Personal or Professional Development Credits. For more information, please see page 10. GARP CERTIFICATION Course is approved for CPE credits to certified Financial Risk Management and Energy Risk Professional holder members of the Global Association of Risk Professionals.
All course fees are in British Sterling Pounds () or US Dollars (US$). Fees include continental breakfast, coffee breaks, and lunch as well as training manuals and materials. A certificate is awarded upon successful completion of each course.
Competency Paths
The Oxford Princeton Programme has created road maps for those seeking full expertise status in a specified field. These paths offer a series of courses that can be taken over a flexible time horizon. They apply to all professionals (entry-level, middle management, senior management) as one can enter anywhere on the path as is suitable with his or her individual level of knowledge, skill and experience. Consult with our Manager Support Representatives to determine the path and entry point that best fits you. For a summary of industry-specific paths, please log onto http://www.oxfordprinceton.com/public-courses/instructor-led-classroom-training-competency-paths.html
On-Sites/In-House Training
Organisations understand the benefits of bringing training into the workplace or to a site that joins together work teams or functions. Confidentiality fosters a freer forum to discuss company-specific challenges and flexibility allows for managers to determine which topics require emphasis based on specific requirements. Convenience comes with chosen time and location not to mention cost savings. Our team is available to listen to your needs and offer effective solutions. Any course in this catalogue designated by an in-house icon (as seen on left) is available off the shelf, combined with other titles, or customised.
Postgraduate Diploma and Certification Programmes

The Oxford Princeton Programme is pleased to offer delegates the opportunity to attain diplomas and certification in specific areas of energy and commodity derivatives expertise. Recipients immediately distinguish themselves internationally as professionals who demonstrate advanced understanding, competence, and proficiency with the sterling reputation of our curriculum behind them. Read on and find out how working towards any of these programmes can further boost your performance, standing and career. Diploma in International Oil Supply and Trading Certificate in Derivatives Pricing, Hedging and Risk Management
Diploma in International Oil Supply and Trading

Candidates for this diploma programme need to complete four Oil Supply and Trading courses:
For Those Attending Courses in Oxford:

Begin with these two compulsory (mandatory) courses: International Oil Supply, Transportation, Refining and Trading (SP1) International Oil Trading and Pricing (TR1) Then choose any two courses as electives (to be taken in the order presented): The Use of Advanced Instruments in International Oil Price Risk Management (TR3) International Oil Trading: A Practical Approach to the Legal Issues for Successful Management of Claims and Disputes (TRL) Total Risk Management in the International Oil and Derivatives Market (TRM) The Synergies of Refining, Trading and Supply (TRR) Fundamentals of Refining and Supply Economics (TRFE) Other qualifying electives: Tanker Ownership, Chartering and Operations (TD2) The Chemicals Shipping Market Chartering and Operations (TD3)
For Those Attending Courses other than in Oxford:

Begin with two of the following core courses: Principles of International Oil Trading (TR0) International Oil Trading Advanced Techniques and Strategic Price Risk Management (TR2) Trading and Operations within the International Oil Markets (TRSA) Trading Operations Practice (TRSQ) Then choose any two courses as electives (to be taken in the order presented): The Use of Advanced Instruments in International Oil Price Risk Management (TR3) International Oil Trading: A Practical Approach to the Legal Issues for Successful Management of Claims and Disputes (TRL) Total Risk Management in the International Oil and Derivatives Market (TRM) The Synergies of Refining, Trading and Supply (TRR) Fundamentals of Refining and Supply Economics (TRFE) Other qualifying electives: Tanker Ownership, Chartering and Operations (TD2) The Chemicals Shipping Market - Chartering and Operations (TD3) A passing mark on a final written examination completes the requirements for this diploma programme. Diploma enrollment fee applies (in addition to course fees which are subject to a discount). Please call for a consultation or more information.
Certificate in Derivatives Pricing, Hedging and Risk Management

Candidates for this certification programme need to complete three courses in this order: Energy Derivatives Markets, Instruments and Hedging (DPH1) Energy Derivatives Pricing, Hedging and Risk Management (DPH2) Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) A passing mark on a final written examination at the end of each course completes the requirements for this programme. Certificate administration fee applies (in addition to course fees which are subject to a discount). Please call for more information.
Note: Delegates who have already successfully completed TPD in 2007, 2008 or 2009, are eligible to place into DPH3.
BAC Accreditation
The Oxford Princeton Programme is accredited by the British Accreditation Council for Independent Further and Higher Education (non-collegiate). For more information log onto www.the-bac.org.
Continuing Professional Education (CPE) and Continuing Professional Development (CPD) Credits
The Oxford Princeton Programme is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at +1 609-520-9099. The Oxford Princeton Programme has entered into an agreement with the Texas State Board of Public Accountancy (TSBPA) to meet the requirements of continuing professional education rules covering maintenance of attendance records, retention of program outlines, qualifications of instructors, program content, physical facilities, and length of class hours. This agreement does not constitute an endorsement by the board as to the quality of the program or its contribution to the professional competence of the licensee. Complaints regarding registered sponsors may be addressed to the TSBPA, Enforcement Division, 333 Guadalupe, Tower III, Suite 900, Austin, TX 78701-3900. Web site: www.tsbpa.state.tx.us For more information regarding administrative policies such as complaint and refund, please contact our offices at +1 609-520-9099. Continuing Professional Development (CPD) credits All instructor-led courses at The Oxford Princeton Programme are CPD certified. CPD - Continuing Personal or Professional Development - is the term that describes a commitment to structured skills enhancement and personal or professional competence. The CPD Certification Service helps organisations provide certified CPD and acts as a point of contact for those seeking to obtain certified CPD material. It supports further learning initiatives being undertaken by Government, professional institutions, trade associations, individual organisations, training providers, suppliers and so on. For more information log onto http://www.cpduk.co.uk As specified by The Law Society of England and Wales, at least 25% of CPD requirements must be acquired through accredited courses. Authorized by The Law Society of England and Wales, 32.5 CPD credits are awarded for The Oxford Princeton Programmes International Oil Supply, Transportation, Refining and Trading (SP1). Other Institutes and Associations Other worldwide institutes and associations (accountancy, law, legal, etc) do not accredit courses or providers, but rely on members to assign their credits based on the numbers of hours spent involved in CPE activities. If a member feels a course qualifies for CPE credits, members should consult their own institute or association for details of their guidelines.
2011-2012 The Oxford Princeton Programme, Inc. The Oxford Princeton Programme, Inc. is not affiliated with Princeton University, Oxford University or Oxford University Press.
10
Business Analysis and Project Finance
Analyzing Energy Companies Energy Project Finance Energy Sector Capital Investment: Project Management Orientation
11
Analyzing Energy Companies - A Practical Approach for Non-Finance Managers (AEC)

Please contact us for dates and fees.
E! NEWCOURS
This workshop introduces participants to the basics of analyzing oil and gas companies from operational and financial perspectives. The course addresses independent (IOC) and national (NOC) oil companies including analysis of upstream, downstream, and refining operations. The course will teach how to analyze integrated oil majors and juniors from a financial perspective and also identify key components of the competitive, corporate governance, and regulatory landscapes for both IOCs and NOCs
What You Will Learn

DAY ONE: Analyzing Crude Oil Operations - For Investors: equity, bonds, operating assets - Operational analysis to attract investors - Analyzing reserves, 1P, 2P, and 3P evaluations, reserve replacement rates, and reserve production ratios - Natural gas (associated and non-associated) - Crude oil production cycles - Offshore versus onshore production - Downstream operations - Refining operations - price takers (utilization, throughput, crack spreads) - Regulatory environment and its evolution - Competitive landscape and opportunities among integrated majors - Reserves - the end game - Case study DAY TWO: Financial Considerations - Key credit metrics - Financial analysis - Liquidity - Cash flow considerations - The capital structure - how to analyze and why it matters - Capital expenditure planning - Case study Industry Perspectives - The politics behind bidding and production rights - Asset portfolio management upstream and downstream considerations - State-owned versus independent oil company comparisons - Case study and analysis of State-owned oil companies - Corporate governance - why it matters
Who Should Attend

Global energy-related companies engaged in the due diligence process for potential partnering, joint venture, or opportunity assessment in the energy sector. Energy company employees in finance, human resources, logistics, operations (downstream and upstream), strategy, and treasury also would benefit. Any professional, seeking a better understanding of analyzing opportunities in the rapidly changing and increasingly complex crude oil industry would find the course beneficial. Such professionals could include analysts, bankers, lawyers or other industry participants who do not necessarily have an accounting or finance background. Fees do not include VAT, GST or any other required local taxes where applicable.
Course Icon Guide see page 6
12
Energy Project Finance - A Practical NEW Approach for Non-Finance Managers (APF)
COURSE!
Whether it is a refinery, pipeline or wind farm, the project approach and structure is consistent as is the process to bringing any such venture to fruition. This course is designed to introduce participants to the process and the institutions necessarily involved in successfully securing project partners and funding specific to the energy sector. Participants will learn how to showcase and educate interested constituents about oil, gas, power, biodiesel, and renewables sector projects. The course will teach how to identify key industry constituents and make compelling cases to potential participants. The workshop will show how to transform financial and highly-technical information into convincing proposals appropriate for a variety of internal and external audiences. Participants will learn how to pull it all together in an effective information memorandum.
What You Will Learn

DAY ONE: Project Assessment and the Marketplace - Introduction to the capital markets - Identifying potential investors (financial or otherwise) - How global capital markets impact the energy sector - Project planning - partnerships and joint ventures - Strategic plan - Making the economic case for your project - Roles of bankers and rating agencies in project finance - Multi-lateral financing - Environmental studies - Regulatory concerns - Due diligence - Case study DAY TWO: The Information Memorandum Putting it all together - Case Study - Critical information for constituents - Business risks - Financial risks - Making the business case for your project - Hydrocarbon reserves, crude oil, and natural gas - Upstream operations and production - Refining and downstream operations - Capital expenditure and financing plans - Impact of price volatility on project planning - Capital structure
Who Should Attend

Energy company personnel or other professionals seeking to obtain partnerships with third parties, funding, or other forms of support from various global funding sources, sovereign investors, or other energy firms would benefit. This course will be valuable to energy company finance, marketing, operations (upstream and downstream), production, strategy, or treasury professionals engaged in the process of attracting partners, investors, or both, to further company goals and interests. This course will also be of interest to analysts, bankers, lawyers, and other industry constituents including geologists and engineers who are charged with bringing large scale energy projects into reality (from beginning to end: conception, economic analysis, due diligence, financing, environmental licensing, regulatory, proposal development, engineering and construction).
Fees do not include VAT, GST or any other required local taxes where applicable.
13
Energy Sector Capital Investment: NEWC Project Management Orientation (PMO)

OURSE!
This course provides an introductory level overview of Project Management for capital projects in the energy sector. The 2-day session is highly workshop oriented where attendees will actually practice applying some of the industry proven Project Management Best Practices to actual energy projects. Attendees will be put into workshop teams where they will be asked to define a project that will be taken through its early inception to project completion. Aspects addressed in the course begin with defining the business need for the opportunity. This is defined in a Project Charter which is then assessed to define the best technical and execution solution to meet the need. Once this is defined the session will address the importance of defining a clear and concise scope of work which is then correlated into a project plan, schedule and cost estimate. The session will conclude with aspects such as cost and schedule monitoring, change management and handover to the end user for acceptance.
What You Will Learn

Industry Perspective Contracting The Project Management Process Resource Planning/Scheduling Business/Project Objectives Cost Estimating Alternative Technical/Execution Analysis Change Management Scope Management Project Control Project Execution Planning Project Start-Up
Who Should Attend

Personnel who are new to Capital Project Management in the energy field or have minimal experience in formal Project Management methodologies and processes. Individuals who are responsible for the management of capital projects in one or more of the following areas; program, project, scheduling, control, cost, scope, contracting and/or resource management would optimally benefit from attending this fundamental level training session.
14
Trading, Derivatives, Hedging and Risk Management
Futures Options Technical Analysis Derivatives Oil Trading Tanker Shipping
15
Fundamentals of Energy Futures (FOEF)

7 May New York 28 May Melbourne 28 May London 25 Jun Zug 16 Jul Houston 27 Aug Calgary 5 Nov Las Vegas 19 Nov London Course Fee: Europe 750 North America $1010 Australia US$1425
Fundamentals of is a great Futures to exchange This highly interactive workshopEnergy introduction(FOEF) traded futures contracts. Delegates will leave with an in-depth knowledge of futures contracts and markets - specifically those related to energy. This introductory one-day course includes a trading simulation and a comprehensive review at the end.
What You Will Learn
The development and characteristics of futures contracts Where and how energy futures contracts are traded Delivery of futures contracts Long vs. short positions How to mark-to-market (realized vs. unrealized profits and losses) Players in the futures markets (hedgers, speculators and locals) Intermonth, intercommodity and intermarket spreads Measuring the market with volume and open interest The importance of liquidity The roles of the clearinghouse The use and purpose of initial and variation margins Other delivery options: ADPs and EFPs The problems of basis risk Types of orders: stop, limit, and market
Who Should Attend

Class delegates include everyone from trade support staff all the way up to senior management anyone who needs to learn the basics for the first time or sharpen their skills on futures terminology and trading. This programme deals with many different energy commodities, including oil, gas and electricity.
Course is lively
and keeps you moving. It is not your typical classroom setting.
It was great!
K.S., NRG Energy
16
Options I - Fundamentals of Energy Options (FOEO)

8 May New York 29 May Melbourne 29 May London 26 Jun Zug 17 Jul Houston 28 Aug Calgary 6 Nov Las Vegas 20 Nov London 4 Dec New York Course Fee: Europe 750 North America $1010 Australia US$1425 This course allows delegates to experience this fascinating and complex field first hand. Long thought as a difficult topic, options are broken down so they are fully understood. This full day workshop covers everything from premium valuation to advanced trading strategies on exchange traded options, specifically those related to energy commodities including oil, gas and electricity. You will gain even more valuable insights through our unique trading simulation and comprehensive review at the end of the day.
What You Will Learn

Characteristics and profit and loss profiles of calls and puts The anatomy of an option Being an option holder vs being an option writer Exercise and assignment The different styles of options - American and European Calculating intrinsic and extrinsic value Variables affecting the Black-Scholes options pricing model The importance of volatility - both historical and implied Using bear and bull fences The behavioral characteristics of premiums The Wasting Asset Theory The meaning of delta, gamma, vega and theta Included in the manual and covered if time permits: characteristics of straddles with profit and loss profiles
Who Should Attend

Class delegates include everyone from trade support staff all the way up to senior management anyone who needs to learn the basics for the first time or sharpen their skills on futures terminology and trading. This programme deals with many different energy commodities, including oil, gas and electricity.
Thank You Fees do not include VAT, GST or any other required local taxes where applicable.
has
the instructor was very knowledgeable and relevant examples as well as historical perspective to lend to discussions.
D.Z., Proliance Energy
17
Energy Risk Management (ERM)

9-10 May New York 30-31 May Melbourne 30-31 May London 27-28 Jun Zug 18-19 Jul Houston 29-30 Aug Calgary 7-8 Nov Las Vegas 21-22 Nov London Course Fee: Europe 1115 North America $1575 Australia US$2190 Understanding and identifying how to limit price risk exposure is a complex task. This two-day course will provide attendees with a forum to maximize hedging efficiencies and limit price risk exposure. Delegates will build a portfolio of industry techniques for managing price risk in todays volatile energy markets.
What You Will Learn

The qualification and quantification of risk How to identify, measure, and control basis risk How to hedge with exchange-traded futures contracts Cross-hedging with futures How to hedge with exchange-traded options on futures How to choose between futures and options Characteristics of swaps Calculating CFDs Hedging with swaps Controlling basis risk with swaps The characteristics of OTC options Hedging with OTC options
Who Should Attend

This two-day advanced workshop is perfect for those who are already familiar with futures and options but want a more in-depth understanding of hedging and the tools available. This course uses four unique case studies developed by the industrys leading risk managers which require the delegate to apply hedging skills to complex scenarios. This programme deals with many different energy commodities, including oil and gas.
The instructors business

experience provided excellent insights into the course concepts. One of the best instructors I have had in
the 25+ years of corporate trading.
P.C., ConocoPhillips
18
Options II - Options Pricing and Applications (OPA)

23 Oct London 5 Dec New York Course Fee: Europe 750 North America $1010 Options are a growing part of energy hedging and speculating, and understanding how they work allows any trader to make better choices in using them. Once youve mastered the basics through Options I - Fundamentals of Energy Options (FOEO), you can learn how to take advantage of fast-changing markets to get the most out of your option positions with this course, which takes your skills to a higher level. This full day workshop not only extends your understanding of option dynamics, but it also allows you to practice these skills through our unique trading simulation.
What You Will Learn

The impact of option deltas on profits and losses How option gamma affects your price exposure The benefits and costs of time decay How market volatility affects options Option hedging techniques, such as delta hedging How to combine options to create other options, and why it works Important characteristics of extrinsic (time) value Different ways to calculate option values Exercise styles and what impact they have Options on price spreads What the pricing models dont measure
Who Should Attend

This programme deals with many different energy commodities. Delegates include everyone from trade support staff to senior management.
Really
good information Well presented.
R.M., Saskpower
19
Options III - Option Strategies (OS)

24 Oct London 6 Dec New York Course Fee: Europe 805 North America $1135 One of the most powerful tools available to hedgers, options are also the most difficult to master. Once youve learned how to make options easy with Options I Fundamentals of Energy Options (FOEO), you can learn how to get the most out of these fascinating instruments with this advanced course. Delegates learn how to apply complex combinations of calls and puts in order to hedge specific risks and take advantage of market expectations. With our unique trading simulation you will master directional and market-neutral trading strategies, as well as the application of complex strategies. You will also learn to match specific risk exposures and market expectations with complex strategies.
What You Will Learn

Directional and market-neutral trading strategies including: - Covered call and puts - Call and put spreads - Financed call and put spreads - Ratio writes and backspreads - Straddles and strangles - Directional straddles - Reduced-risk volatility spreads - Butterflies and condors How to reduce the cost of using options as insurance How to tailor sophisticated options strategies that exactly match an anticipated market outcome Matching specific risk exposures Mixing different types of options
Who Should Attend

This programme deals with many different energy commodities. Delegates include everyone from trade support staff to senior management.
A
very good course well taught & trading simulations T.W., Glencore Ltd. were very helpful.
20
Options IV - Exotic Options (EXO)

Please contact us for dates and fees This one-day, non-technical workshop provides delegates with detailed working knowledge of the application and pricing of innovative risk management tools. The terms Exotic and Advanced are reduced to a common denominator such that the material is easy for delegates to comprehend. This is accomplished through comparisons with plain vanilla and other commonly used option spreads both in terms of pricing and payout. In addition, the course examines how dealers hedge their exposure in exotic options, valuation anomalies, delta hedge ratios of 1000% or higher and potential dealer manipulation issues. Finally, a case study is used to facilitate a better understanding and the proper use of these sometimes bewildering instruments.
What You Will Learn

The history of exotic options and why they are gaining popularity in the energy market Contingency planning with Compound Options Hedging with: - swaptions - average price options - look back options - digital options - step structure digital options - contingent premium aka pay later options - modified strike (high and low) digital contingent premium options - barrier options - double barrier options - swing options Combining various exotic options to create new hedging structures OTC pricing models - analytic models, numerical models, and Monte Carlo Simulation models discussed
Who Should Attend

Class delegates include everyone from trade support staff all the way up to senior management - anyone who is interested in the pricing and hedging of exotic over-the-counter options.
21
North American Gas and Power Trading and Risk Management (NAGP)
13-15 Feb Calgary 16-18 Oct Houston Course Fee: North America $3915 The principal aim of this course is to expose delegates to a comprehensive training on power and gas trading and risk management in an applied context. The course will enable participants to gain a practical working knowledge of gas and power market structure, main players and common traded instruments. Delegates will gain a practical understanding of the various dimensions of risk in gas and power markets and the various tools to manage and transfer those risks. We will present new approaches to hedge energy exposures with derivatives as well as useful techniques to unbundle gas and power structures in long term contracts and physical assets. Particular emphasis is placed on the use of derivatives as well as physical assets and contracts to manage price, credit, volumetric, and operations risk. This course is highly interactive, and we encourage delegate participation and group discussions. Numerous case studies are presented throughout the course, with particular emphasis on the interpretation and use of trading and risk management concepts introduced in real-life examples. Delegates will make presentations to the group and conduct numerous individual and group exercises. The trading game will provide an opportunity for delegates to use the main hedging instruments as well as take advantage of market views as a response to changes in gas and power market conditions. Delegates will execute their own trading strategy and will calculate and monitor their own P/L, adjust their hedge book, as well as keep positions within limits such as volumetric, stop losses, VaR and Stress tests.
What You Will Learn

Main players and market structure Key prices, drivers, behavior, and volatility Physical contracts and linear instruments Options and OTC structures Mark to market, P/L and position management Market and liquidity risk management Hedging and trading strategy and limits Trading strategy and technical analysis Physical assets and contracts as real options Cross-commodity instruments and real options Advanced option topics Market risk management Volumetric risk Credit and counterparty risk management
Who Should Attend

Energy traders and marketers, Energy analysts, Gas and power utilities staff, Power and fuel purchasing managers, End-users of derivatives in corporations, Market risk managers, Credit risk analysts, Risk consultants, Risk and audit committee members, CFOs and treasury managers, Finance department personnel, Compliance and internal audit, Middle and back-office personnel, Government agencies.
22
European Gas and Power Trading (EGPT)

24-26 Apr Dusseldorf 16-18 Oct London Course Fee: 2060 This three-day, highly interactive, workshop is designed to provide an introductory overview of the way natural gas and electricity are traded within Europe. Delegates will learn the general principles of how gas and power markets work, and how trading is carried out in the various different types of market spot and forward, exchange-based and OTC. They will also get an idea of what a trader's job involves, through competitive team trading simulations and other hands-on exercises that focus on different aspects of trading and risk management. Topics explored include basic trading concepts, fundamentals of gas, power and emissions markets, fundamental and technical market analysis, gas and power trading instruments, trading strategies including arbitrage and the use of gas storage, the mechanics of trading on exchanges, in auctions and through bilateral contracts, and principles of risk measurement, management and hedging.
What You Will Learn

Basic trading concepts - Reasons for gas, power and emissions trading - Players in the physical gas and power markets, and their roles in traded markets Natural gas fundamentals - Introduction to natural gas, its supply chain and end-user markets - Natural gas quality issues Power fundamentals - Introduction to power generation technology - Generation fuels and their characteristics - The nature of end-user power markets Emissions market fundamentals - Overview of European emissions allowances and renewable certificate markets - The need for and purpose of emissions trading Gas and Power trading - Principles of gas and power market design - Interactions between traders and infrastructure operators Market Analysis - Fundamental analysis and price drivers in natural gas markets - Fundamental analysis and price drivers in power markets - Technical analysis in gas and power markets Trading Instruments - Trading instruments and deal types in gas markets - Trading instruments and deal types in power markets - Spark spread trading Trading strategies - Supply trading and optimization - Speculative trading - Arbitrage trading Mechanics of trading - Contracts and master agreements - Bilateral negotiation - Exchange-based trading Characteristics of gas and power markets - Volatility and its causes - Price behavior - Linkages to other fuel markets Risk and Risk Management - Volume risk and price risk - Identification of exposure - Measurement and quantification of risk (including VAR)
Who Should Attend

The course is ideal for anyone who needs an introduction to energy trading and the role of trading within gas and power markets. Typical delegates would include support staff, analysts, accountants and managers in trading area, along with those involved with energy supply, risk management, credit, finance, contracts, IT, operations, transportation and storage. The course would also be suitable as an introductory foundation course for someone just starting out in a trading career, or making the transition to gas and power trading from other markets.
23
Fundamentals of Natural Gas Basis Trading (NGBT)

Please contact us for dates and fees. After learning all there is to know about exchange-traded futures and options, traders are always faced with a complex dilemma - Basis. The B word can make or break a successful hedging or trading program. This one day programme includes timely real world examples to reinforce the application of basis trading concepts and tools. After completing this course, delegates will have a strong working knowledge of basis trading. This knowledge will be put to the test during an exciting trading simulation.
What You Will Learn

Basis fundamental analysis including: - Weather - Regional supply/demand analysis - Current market perception - Transportation - Displacement analysis - Common errors of fundamental analysis Basis statistical analysis, including: - Measurement of historical relationships - Seasonal analysis Common basis-related instruments: - Basis swaps - Fixed-price swaps - NYMEX look-alikes
Who Should Attend

Class delegates include everyone from trade support staff all the way up to senior management anyone who needs to learn how to analyze and take advantage of proper basis risk/opportunity analysis. The programme deals with many different energy commodities.
Excellent course, well taught, very relevant.

L.H., PWGSC
24
Fundamentals of Technical Analysis (TA)

27-28 Feb Houston 15-16 May Calgary 19-20 Sep London Course Fee: Europe 1175 North America $1575 Take the mystery out of common technical indicators! You will learn whats behind this analysis technique and how you can make it work for you every time you trade. Understanding and using technical analysis is important to hedgers as well as speculators. Well show you all of the many common indicators. Delegates will learn what they are and how the experts use them. Weve included a trading simulation where you will actually be making trading decisions based on technical indicators.
What You Will Learn

The real definition of technical analysis Using technical analysis for trading discipline, quantifying and managing risk, and coordinating with fundamental analysis Using trend lines, Japanese Candlesticks, support and resistance and retracement levels How to analyze and use volume/open interest The characteristics of the Elliot Wave Theory and Gann Calculating and using moving averages and MACD Using DMIs, Parabolics, Stochastics, RSIs, %R, Momentum, Market Profile and Bollinger Bands How to combine indicators and approaches Hedging with technical analysis Speculating with technical analysis Mechanical trading system development: trend-following, counter-trend and combining non correlated trading systems
Who Should Attend

This two-day workshop is perfect for those who want to further their futures trading skills or better understand the methods of major market players. Understanding and using technical analysis is important not only to speculators but hedgers as well. Delegates include everyone from trade staff support, quantitative analysts, programmers, marketing/sales, and traders to senior management. This programme deals with many different energy commodities.
Very well explained. The hands on component was excellent.

B.W., Greyhawke Resources
25
Advanced Technical Analysis and Technical Trading (ATA)

Please contact us for dates and fees. This course examines how market participants apply theories of technical analysis to various trading timeframes through the presentation of advanced material and a series of interactive workshops. The timeframes covered include day trading and swing trading through a study of 5, 30, 60-minute and daily charts; also position trading through an examination of daily, weekly and monthly charts. Please note: a laptop and up-to-date version of Microsoft Excel software is required in order to engage in market data.
What You Will Learn

Profiles of successful technical trading styles - Trend-following - Counter-trend trading The theoretical and statistical basis for technical analysis Advanced indicators Enhancing entries and exits - Delayed entry signals - Stop-loss - Profit-taking Money management: risk-based position sizing Developing a technical trading system Putting it all together - multiple time-frame trading - Real-time position management - Mixed time-frame trading Extensive trading simulations: simulated real-time trading
Who Should Attend

This one-day workshop is perfect for anyone interested in price forecasting techniques and price risk management using technical analysis. This programme deals with many different commodities.
I feel I have a much greater understanding of technical analysis, and how to use the tools involved in it, after taking this hands-on interactive course.
D.H., BP
26
Front to Back Office: Trading Controls and Best Practices (FTBO)

3 Feb London 24 Apr Calgary 17 Sep London 22 Oct Houston Course Fee: Europe 850 North America $1135 This fascinating and interactive workshop will give delegates a thorough understanding of best practice controls to be applied in commodity trading activities. Delegates are encouraged to think about the controls processes applied in their own operations, through interactive group case studies, in order to minimize the chances of similar expensive trading mistakes. Recent trading failures will be analyzed.
What You Will Learn

Key types of risk (faced by management and the trading room) Details of recent spectacular failures What happened and why Same company or different planets? - Front office - Mid-office - Back office The overall controls process Trading controls Best Practices guidelines - Executive management - Trading management - Traders Trading authorities - limits and layers Prioritizing more deals vs. better controls Trading room controls
Who Should Attend

Class delegates include everyone from support staff to management from trading, risk management, operations, accounting, credit, and contracts groups. This one-day workshop is perfect for those concerned with front office, mid-office, and back office functions for international and domestic energy commodity companies (crude oil, petroleum products, natural gas, electricity and coal) and other commodities (grains, metals, etc.).
Speaker was extremely knowledgeable,

examples were relevant, materials were very effective.
R.D., Agrium
27
E! NEWCOURS
Compliance, Ethics and the Role of the Middle Office (FTBOII)
25 Apr Calgary 23 Oct Houston Course Fee: $1135 This course is a follow-on to Front to Back Office I: Trading Controls and Best Practices offering more in-depth coverage of systems requirements, credit risk management best practices, risk and performance measurement, and a strong focus on capital adequacy issues. New subject areas covered include recent developments in regulatory and legal compliance, and ethics. Delegates will analyze case studies to explore examples of control inadequacies leading to liquidity crises, market manipulation and misuse of leverage.
What You Will Learn

Review of a best practice organizational structure and key functions Overview of best practice risk system requirements Capital Adequacy Calculating credit exposure Portfolio credit risk measurement Forward-looking credit models Determining credit thresholds Key issues with credit and collateral annexes Foundations for risk measures Risk modeling issues Price volatility issues Application and strengths/weaknesses of value-at-risk Other uses of value-at-risk Types of stress testing Stress testing versus at risk measures Key measures of capital adequacy Cash-flow-at-risk Impact of margin (collateral) on working capital Capital adequacy framework Regulatory and legal compliance Overview of regulatory organizations Market manipulation defined Overview of the new regulatory regime Swap Dealers and Major Swap Participants End user exemptions Clearing, margining, reporting and credit risk issues Implications of Dodd-Frank Ethics
Who Should Attend

Class delegates include everyone from support staff to management from trading, risk management, operations, accounting, credit, and contracts groups. This one-day workshop is perfect for those concerned with "front office", "mid-office", and "back office" functions for international and domestic energy commodity companies (crude oil, petroleum products, natural gas, electricity and coal) and other commodities (grains, metals, etc.) Fees do not include VAT, GST or any other required local taxes where applicable.
28
Value-at-Risk: The Basics and Beyond (VAR)

26 Apr Calgary 18 Sep London 24 Oct Houston Course Fee: Europe 870 North America $1135 Value-at-Risk is the benchmark for measuring and controlling market risk. Premier trading and marketing companies around the world use Value-at-Risk to maximize profit opportunities and minimize costly positioning mistakes. This one day workshop focuses on the important aspects of this risk management tool.
What You Will Learn

Types of risk Causes of financial risk Definition of Value-at-Risk History of Value-at-Risk Computing Value-at-Risk Converting Value-at-Risk parameters Using Value-at-Risk to establish trading limits Using Value-at-Risk to measure trading performance Calculating risk across a portfolio The three approaches for calculating Value-at-Risk Using implied volatility in Value-at-Risk Verifying Value-at-Risk Limitations and pitfalls of Value-at-Risk
Who Should Attend

This workshop is ideal for those who need to become familiar with Value-at-Risk. Traders, support staff, risk managers, senior management (anyone who needs to understand and interact with position and risk management) will benefit from this workshop. The information presented in this programme is applicable to any energy commodity.
Excellent program - very insightful and thought-provoking. Instructor took a dry/complex subject and made it very interesting.
B.E., Sempra
29
Energy Derivatives Markets, Instruments and Hedging (DPH1)

19-20 Mar Singapore 11-12 Jun Calgary 25-26 Jun London 24-25 Sep Houston Course Fee: Europe 2575 North America $3195 Asia US$3550 This course provides an overview of energy derivatives and physical markets as well as the main instruments traded in those markets. We will explore the main differences between physical and paper transactions and also between exchange-traded and OTC products. We will show how to trade and understand the risk of futures, forwards and swaps to mitigate market risk. The course will also provide an overview of option contracts and hedging and speculation strategies using options and simple structures. We will cover strategic and tactical issues around hedging with Energy Derivatives and will explore alternative hedging alternatives for producers and end-users. The course will introduce exotic options, as well as options on spreads and multiple assets and the use of those options in hedging programmes. This highly interactive workshop uses practical case studies, Excel exercises and group discussions to reinforce the concepts presented in the lectures. Please note: a laptop and up-to-date version of Microsoft Excel software is required in order to engage in market data.
What You Will Learn

This is a partial outline. Please visit our website for a complete version.
Overview of energy physical and financial markets Spot prices and forward curves in energy markets Using energy futures, forwards, swaps Using energy options: hedging and speculation Strategic and tactical issues around hedging with energy derivatives Exotic options Options on multiple assets Strategies with options
Who Should Attend

Market risk managers, energy traders, trading managers, end-users of derivatives in corporations, credit risk analysts, risk consultants, risk and audit committee members, CFOs and treasury managers, finance department personnel, compliance managers, middle and back-office personnel, treasurers and treasury analysts, chief risk officers.
Work toward The Oxford Princeton Programmes Certificate in Derivatives Pricing, Hedging and Risk Management. See page 9 for further details.
This was an excellent course that helped me to understand a lot of the questions I had about derivatives and the energy industry.
W.W., Mentat Solutions
30
Energy Derivatives Pricing, Hedging and Risk Management (DPH2)

21-22 Mar Singapore 13-14 Jun Calgary 27-28 Jun London 26-27 Sep Houston Course Fee: Europe 2575 North America $3195 Asia US$3550 This course builds on the concepts and instruments presented in Energy Derivatives Markets, Instruments and Hedging (DPH1) and provides an overview of energy derivatives pricing and risk management. We will start with a review of energy price behavior, probability and statistics and various Excel exercises with hands-on calculations of various risk statistics. As a review and extension of some of the structures presented in Energy Derivatives Markets, Instruments and Hedging (DPH1), a common framework to analyze derivatives structures and long term contracts is also presented. The course also covers an introduction to derivatives pricing models and relevant accounting rules such as FAS 157. Implied volatility and Greeks are presented using practical exercises. The course also covers analysis of structured products used by producers and end-users such as extendable swaps. Spot price models, geometric Brownian motion and mean-reverting models for pricing and risk analysis. Market risk with particular emphasis on VAR. Basis risk and derivatives in energy markets with an overview of hedge effectiveness under FAS 133. The course concludes with an overview of stress testing for energy derivatives portfolios. Please note: a laptop and up-to-date version of Microsoft Excel software is required in order to engage in market data.
What You Will Learn

Review of Energy Price Behavior, Probability and Statistics Energy Derivatives Structures Mark-to-Market vs. Mark-to-Model: Introduction to Derivatives Pricing Models: - Conceptual Interpretation - Uses - Pros and Cons Analysis of Derivative Strategies Energy Price Behaviour: Overview of spot price models Market Risk Management for Energy Trading Basis Risk and Derivatives in Energy Markets Stress Testing and Backtesting for Energy and Commodity Firms
Who Should Attend

Market risk managers, energy traders, trading managers, end-users of derivatives in corporations, credit risk analysts, risk consultant, risk and audit committee members, CFOs and treasury managers, finance department personnel, compliance managers, middle and back-office personnel, treasurers and treasury analysts.
31
Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3)

4-5 Jun Houston 17-18 Sep Calgary 26-27 Nov Singapore 3-4 Dec London Course Fee: Europe 2680 North America $3295 Asia US$3650 Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) builds on the concepts and instruments presented in Energy Derivatives Markets, Instruments and Hedging (DPH1) and Energy Derivatives Pricing, Hedging and Risk Management (DPH2) and covers advanced derivatives pricing topics as well as market risk management of derivatives portfolios. Advanced market risk management topics such as applications of marginal VaR analysis, backtesting VaR models and extreme value theory VaR are presented. Counterparty risk management and potential future exposure (PFE) calculations are covered in this module. Advanced derivatives pricing and hedging concepts covering exotic derivatives and physical assets (eg power plants and natural gas storage) are also presented in this course. The course also covers advanced hedging concepts such as delta-gamma hedging and cross-market hedging and hedging in the presence of volumetric risk. This highly interactive workshop uses practical case studies, Excel exercises and group discussions to reinforce the concepts presented in the lectures. Please note: a laptop and up-to-date version of Microsoft Excel software is required in order to engage in market data.
What You Will Learn

Energy price behaviour: overview of forward curve models Advanced hedging Advanced derivatives pricing Advanced market risk management for energy trading Dynamic simulation of risk Counterparty risk management Valuation and hedging of physical assets and long term contracts as real options
Who Should Attend

Market risk managers, energy traders, trading managers, end-users of derivatives in corporations, credit risk analysts, risk consultants, risk and audit committee members, CFOs and treasury managers, finance department personnel, managers, middle and back-office personnel, treasurers and treasury analysts.
Great course which did a good job of explaining advanced and complex topics into easy to understand terms. Would recommend Oxford Princeton to colleagues.
M.B., Terasen Gas
32
E! NEWCOURS Trader Psychology The Discipline and

Methods to Trading Success (TPS)
29 Jun London Course Fee: 1250 + 20% VAT This one day workshop covers psychological and technical aspects to trading in energy markets. The course will review key lessons from successful traders and a summary of findings from behavioral finance studies applied to trading decisions. We will introduce how to develop a disciplined trading approach incorporating fundamental and technical analysis, with emphasis on the main components of a formal trading plan, how to articulate decision drivers, and determining position sizes and quantify and control risk levels. We will also explore some of the main reasons why traders blow up, with examples from energy markets.
What You Will Learn

Module I: A disciplined approach to trading Market Drivers and the Financialization of Energy Markets Theories of market behavior: Efficient markets vs. Adaptive Market Hypothesis A Disciplined Approach to Trading (I): Edge, Process and Time How do Trading Rooms make money Hedging vs. Speculation. Drawing the line between them. Why Traders Blow Up?: Concentrated positions, markets freezing up, lack of risk control Module II: The Psychology of Trading What makes a good trader? Cardinal sins of trading Overview of Behavioral Biases Overconfidence Framing and anchoring effects Persuasion and Hindsight effects When can we trust our intuition? Identifying and correcting biases: Trading logs Module III: Trading Methods Trading styles: Fundamental & Technical Analysis Trading Methods and Market Types Technical Indicators When to use fundamentals vs. technicals Backtesting Trading Strategies Directional vs. Asset-based Traders Trading Discipline Components of a trading plan How should I prepare to trade? The importance of entry and exit rules Why should I enter into a position? Position sizing and risk levels Hold times Liquidation strategies Case Studies Andrew Hall, Phibro John Arnold, Centaurus Energy Brian Hunter, Amaranth Dwight Anderson, Ospraie Others: China Aviation Oil, Semgroup, JP Morgan, Cheasapeake Turtle trading strategy
Who Should Attend

Personnel who are entering the trading market and staff who interface with the trading sector and require a better understanding of trading practice such as management accounting, controllers, treasury or supply functions.
33
A Disciplined Approach to Asset-Based Trading in Oil Markets (ABT)

27-28 Aug Houston 5-6 Nov London Course Fee: Europe 2900 North America $3605
E! NEWCOURS
This two-day workshop covers psychological and technical aspects to asset-based trading in oil markets and will explore trading strategies under different market conditions in an asset-based framework. The course will introduce several examples of real options and asset Based/Backed Energy Trading Strategies such as cargo arbitrage, storage and blending. The course will review key lessons from successful traders and a summary of findings from behavioral finance studies applied to trading decisions. We will introduce how to develop a disciplined trading approach incorporating fundamental and technical analysis, with emphasis on the main components of a formal trading plan, how to articulate decision drivers, and determining position sizes and quantify and control risk levels. We will also explore some of the main reasons why traders blow up, with examples from oil markets. We will introduce a real options approach applied to valuation, hedging and optimization of trading decisions in an asset-based context. A simulated trading game over the 2 day workshop will allow delegates to put in practice some of the principles presented in the workshop.
What You Will Learn

A Disciplined Approach to Asset Based Trading - Oil trading spectrum and main players - The role of prediction in markets - A game plan for uncertain markets o Edge o Process o Time - Case study: A tale of two traders The Psychology of Trading: Behavioral biases and ways to correct them - Theories of market behavior - What makes a good trader? - Cardinal sins of trading: - Behavioral Biases - Exercise: Identifying and correcting biases Trading Simulation: Session I Trading Methods and Market Types - Evolution of Oil Markets - Predictive Methods o Fundamental Analysis o Technical Analysis o Quantitative Models - Backtesting trading strategies Trading Simulation: Session II Trading Strategy and Discipline - Elements of a Trading Strategy - Hedging in illiquid markets - Risk measurement for asset-based strategies - Scenario Analysis and Stress Tests - Why do Traders Blow Up? Trading Simulation: Session III Asset Based/Backed Oil Trading Strategies and Real Options: - Asset-based trading - Contractual vs. Real Options - Optimization and monetization - Case study: Cargo arbitrage - Case Study: Storage - Case Study: Blending Incorporating Uncertainty in Asset-Based Strategies - Monte Carlo Simulation: Spot and Forward Prices - Static and Dynamic Hedging Strategies - Identifying the value of real options Trading Simulation: Session IV
34
Liquidity and Counterparty Risk Management (LCRM)

6-7 Jun Houston 28-29 Nov Singapore 5-6 Dec London Course Fee: Europe 2680 North America $3295 Asia US$3650 This course covers the latest practical developments in liquidity and counterparty risk in energy markets. We will explore how to identify, quantify and mitigate credit and counterparty risk from derivatives and long term contracts. Case studies will illustrate the interaction of market, credit and funding liquidity risk with examples from energy markets. We will review the critical components to establish sound liquidity and credit risk management policies and procedures. Delegates will learn about applications of recent methodological developments such as Potential Future Collateral (PFC) and counterparty potential future exposure (PFE), as well as Credit Valuation Adjustments (CVA) in fair value calculations. The course will also introduce applications of various counterparty risk mitigation tools such ISDA agreements, with emphasis on the Credit Support Annex (CSA) and collateral implications. Netting, guarantees, pre-payments and credit derivatives will also be covered. This highly interactive workshop uses practical case studies, Excel exercises and group discussions to reinforce the concepts presented in the lectures. The workshop will focus on practical applications of various methodologies and tools to improve credit decisions and manage liquidity proactively.
What You Will Learn

Explore the various dimensions of liquidity and counterparty risk in the energy sector Understand key netting and collateral clauses in ISDA agreements How to perform Counterparty Valuation Adjustments (CVA) for energy derivatives Use of credit mitigation tools such as netting, collateral and credit derivatives in the energy sector Learn how to structure an internal rating system for derivatives counterparties Become familiar with simulation-based approaches to calculate potential future collateral (PFC), potential future exposure (PFE) and other risk metrics using Excel Understand how to set up a limit structure based on Current Exposures as well as Potential future exposures against various counterparties How to aggregate counterparty exposures using netting and collateral terms to provide a single unified view Set up effective credit and liquidity risk management policies and procedures for credit risk management including reserves and credit risk charges. Learn how ratings, indicators, and bond and CDS spreads price default risk Understand the impact of new OTC Derivatives regulations (eg Dodd-Frank act) on liquidity and counterparty risk
Who Should Attend

The course is targeted for people involved in counterparty and credit risk management for energy derivatives. The main groups involve risk managers (mostly from the credit/counterparty risk area), energy traders and trading managers, back office/operations, as well as legal, compliance and internal audit. Also people from IT department involved in implementing/supporting counterparty risk systems. Fees do not include VAT, GST or any other required local taxes where applicable.
35
Power Hedging and Risk NE Management for Utilities (PRM)

WCOURSE!
The principal aim of this course is to expose delegates, to comprehensive training on power hedging and risk management in an applied context. The course will enable participants to gain a practical working knowledge of power market structure, main players and common traded instruments. Delegates will gain a practical understanding of the various dimensions of risk in power markets and the various tools to manage and transfer those risks. We will present new approaches to hedge energy exposures with derivatives as well as useful techniques to unbundle gas and power structures in long term contracts and physical assets. Particular emphasis is placed on the use of derivatives as well as physical assets and contracts to manage price, credit, volumetric, and operations risk.
What You Will Learn

Power Prices, Drivers, Behavior, and Volatility - Physical and Financial Power Markets: From Producers to End-users - Risk dimensions: Price, basis, credit, liquidity, volume, operations Physical Contracts and Linear Instruments - Physical purchase and sale contracts - Futures vs. Forwards - Open Interest, Bid-ask Spreads and Volume Options and Non-Linear Instruments - Review of key option concepts - Options types and payoffs Mark to Market, P/L and Position Management - Book Structure and Position Management - Front, Middle and Back Office Flows - Mark to market vs. Mark to Model Market, Liquidity and Credit Risk Management - Market Risk Management for Physical transactions - Understanding and interpreting at-Risk measures, Value at Risk, Earnings at Risk (EaR), Cash Flow at Risk (CFaR) Physical Assets and Contracts as Real Options and Cross Commodity Instruments - Typology of Real Options - Optimization and Monetization Strategies Volumetric and Weather Risk - Key sources of volume risk in power markets - Possible problems when hedging physical exposures with financial forwards: Plant outages, Plants not dispatched. Hedging Strategies with Options - Implied volatility vs. Historical Volatility - Volatility skews and volatility surfaces - Implied volatility cones
Who Should Attend

Energy Traders and Marketers, Energy Analysts, Marketing Managers, Sales Managers, Asset Optimizers, Power Utilities staff, Power and Fuel purchasing managers, End-users of derivatives in corporations, Market Risk Managers, Credit Risk Analysts, Risk consultants, Risk and Audit Committee Members, CFOs and Treasury Managers, COOs, Finance department personnel, Compliance and Internal Audit, Middle and Back-Office Personnel, Government agencies.
36
Overview of Physical Crude Oil Trading and Operations (CT)

23-24 Jan London 30-31 Jan Singapore 5-6 Mar Calgary 18-19 Jun New York 16-17 Jul Melbourne 20-21 Aug Cape Town 10-11 Sep London 17-18 Sep Singapore 29-30 Oct Calgary 3-4 Dec Zug Course Fee: Europe 1175 Africa 1350 North America $1575 Asia US$2390 Australia US$2390
In this introductory workshop, delegates will gain an in-depth understanding of how the physical crude oil trading market works. Besides gaining invaluable exposure to terminology, each delegate will experience all the steps in typical domestic and foreign crude oil transactions. Well explore the linkage between new well production, marketing, transportation and storage, as well as refining to physical trading (both speculatively and as a hedge vehicle).
What You Will Learn

The major components of physical crude oil operations The worldwide logistics of crude oil (wellhead to refinery) International and domestic trading patterns and major trade locations How crude oil is selected and optimized by a refiner Major price components The art of the trade and verbal counter party negotiations Spot vs. term deals - the critical path steps of a typical crude oil negotiation Crude contract terminology, credit instruments and legal issues Pipeline and marine nomination procedures How to maximize profit from trading strategies and operations An overview of fundamental/technical analysis and hedging strategies
Who Should Attend

Class delegates include anyone who has a requirement or interest in understanding the mechanics of physical crude oil trading and operations. This typically includes trading and contract analysts, personnel from upstream pipeline and marine operations, product supply, refinery operations, information technology, accounting, those new to the industry and crude oil trading staff all the way up to middle and senior management new to this trading discipline.
The course met all my expectations and will help me in my interactions with the business units my IT organization supports. This is a must course for all IT professionals in the oil and gas industry.
A.M., Tesoro
37
Overview of the Physical Trading of Petroleum Products (PT)

Please contact us for dates and fees. This one-day workshop familiarizes delegates with the key elements of the physical petroleum product trading market. Topics explored include the major product blending pools and specifications, market fundamentals, technical analysis, key trading strategies and the mechanics of trading and operations. Delegates will learn product trading terminology, as well as get the chance to participate in industry case studies and a product trading simulation.
What You Will Learn

Purposes of product trading Product blending and specifications Market fundamentals - Supply and demand trends - Imports, exports and trade flows - Inventories Technical analysis Trading strategies - Price differentials and arbitrage - Refining economics - Storage plays - Spot and term markets - Paper markets and hedging Mechanics of trading - Contracts and negotiations Operations - Marine, pipeline, road and rail transportation
Who Should Attend

Anyone who needs to know more about the product trading side of the oil industry including everyone from support staff to those in management positions in the areas of trading, supply, risk management, operations, transportation and storage.
38
Oil Trading Orientation (OTO)

24-26 Apr Houston 8-10 May Dubai 18-20 Jun Melbourne 19-21 Jun Stavanger 2-4 Oct Geneva 6-8 Nov Cape Town 13-15 Nov Houston 3-5 Dec Calgary 3-5 Dec Singapore 10-12 Dec London Course Fee: Europe 2060 North America $3090 Asia US$3200 Australia US$3200 Middle East and Africa 2200
This three-day workshop familiarizes delegates with the key aspects to successful crude oil and petroleum product trading. Topics explored include crude oil quality, product blending and specifications, market fundamentals, technical analysis, key trading strategies, pricing mechanisms and the mechanics of trading and operations. Delegates will learn trading terminology, as well as get the chance to participate in industry case studies and trading simulations.
What You Will Learn

Purpose of oil trading Crude oil quality and selection Key refining processes Product blending and specifications Market fundamentals - Supply and demand trends - Imports, exports and trade flows - Inventories Technical analysis Crude oil valuation and pricing Price components Major trading patterns and locations Trading strategies - Price differentials and arbitrage - Refining economics - Storage plays Spot, term and paper markets Price exposure and risk management Hedging with futures, exchange-based and OTC options and swaps Mechanics of trading, contracts and negotiations Operations and marine, pipeline, road and rail transportation logistics
The course includes exercises based on actual market scenarios including crude oil selection and valuation, gasoline blending, storage plays and hedging case studies. Delegates are also placed in teams to participate in crude oil and product trading simulations.
Who Should Attend

Class delegates include anyone who needs to know more about trading - everyone from support staff, analysts, accountants and management in the areas of trading, supply, risk management, credit, finance, contracts, IT, operations, transportation and storage.
Just recently entering the industry, I consider myself lucky to have been able to gain knowledge offered by this course early in my career. J.J., Nexen
39
Introduction to Emissions Trading (EM)

Please contact us for dates and fees. This one-day workshop provides an overview of primary global emissions, key emissions trading activities and initiatives, and how emissions trading programmes serve to facilitate environmentally acceptable and cost effective solutions for clean air. Attendees will be actively involved through team participation in an exciting emissions trading simulation.
What You Will Learn

Key emission problem areas - Acid rain - sulfur dioxide, nitrogen oxides - Ground level ozone/smog - nitrogen oxides, volatile organic compounds - Greenhouse gases - carbon dioxide, nitrogen oxides, methane and others Forms of emission reduction implementation Cap and trade systems U.S. programs - Clean Air Act Acid Rain Program, Ozone Transport Commission, SIP Call, Clean Air Interstate and Mercury Rules Framework for an emissions trading program Market structures and participants Emission allowance pricing The Kyoto Accord and the European Emissions Trading Scheme (ETS) CDM and JI greenhouse gas reduction programs Other national and state programs
Who Should Attend

This introductory course is perfect for new, or newly assigned management and staff of trading and operations, risk management, and accounting and credit/finance. Due to the broad treatment of this important topic, it is also excellent for the management and staff of Marketing, Computer Services (IT), Manufacturing (operations/engineers) and Legal and Tax groups. The subject matter of this course impacts all of us, from both a personal and corporate standpoint.
40
International Oil Supply, Transportation, Refining and Trading (SP1)

27 Feb- 2 Mar Oxford 2-6 Jul Oxford 3-7 Sep Oxford Course Fee: 3090 Fee + Accommodation: 3790 This course provides an overview of the oil supply chain from upstream economics, transporting crude oil from source to the refinery through processing, trading and the retailing of oil products. It is designed for new entrants to the oil industry. This course is ideal for use as part of an induction programme or for bringing those transferring disciplines up to speed with the area. Those without prior knowledge of the oil industry may wish to familiarize themselves through our Introduction to the Oil Industry course. Through the medium of continuous case study, delegates will address day-to-day problems in order to understand the relevant commercial driving forces in this area.
What You Will Learn

Fundamental analysis Supply relationship with upstream How to value of crude oil based on product market prices How to evaluate spot tanker freight costs How tankers are chartered How oil and tanker contracts are structured How to evaluate netbacks How a refinery is structured The refinery petrochemical interface The interface with retail, industrial and transportation markets The key points on product quality How key specifications are met Fundamental economic drivers of the downstream How the international oil markets are priced The basic use of hedging within a trading environment
Who Should Attend

New entrants to the oil industry and integrated sections such as supply, trading and logistics; managers changing disciplines into the downstream; professional personnel inside and outside oil companies interfacing with supply, refining, trading and transportation functions and who need an overview of this sector such as legal, banking, insurance, finance and production.
Very good and quite intensive

for the level I was looking i.e.
Perfect Combination!
S.V., ChevronTexaco
41
International Oil Trading and Pricing (TR1)

23-27 Apr Oxford 1-5 Oct Oxford Course Fee: 3710 Fee + Accommodation: 4410 This course covers the basic principles of oil trading and the markets. Through a variety of case studies, delegates will learn the techniques involved in trading and how to address day-to-day problems. During the week, in a continuous theme case study, syndicate groups will manage their own company trading positions in products and crude oil, while reacting to new positions generated and changing market prices which simulate a live situation. Delegates will also have the opportunity to trade speculatively on live futures markets. It is recommended that delegates should have attended "International Oil Supply, Transportation, Refining and Trading" (SP1) or have working knowledge of the subjects covered in that course. After reviewing the background of supply, refining and transportation, the course focuses on the key markets, physical crudes and products, and the pricing mechanisms involved in their trading. Aspects of the various exposures encountered in trading are covered together with an introduction to price risk management and hedging using futures. The concept of basis risk and its avoidance using swaps and options will also be explored. The week will close with an introduction to advanced price management concepts. Syndicate exercises will address each skill required.
What You Will Learn

The structure of the oil markets and pricing Keys to trading: product quality, freight costs and refining process Comprehend the Brent Market and its influence on international pricing Position management with basic hedging tools The structure of purchase/sales contracts including exposures and transactions Price risk management & EFPs Developing successful trading strategies The use of trading instruments to capture the market Use of Freight Forwards to manage freight risk Working the arbitrage Structured and live markets
Who Should Attend

Personnel who are entering the trading arena, oil company staff who interface with the oil trading sector and require a better understanding of trading practice such as management accounting, financial control, treasury, supply or production functions and those in the legal and banking fields who want a better understanding of trading practice.
Thought the course was great, not just for the content learned but also from a networking aspect & gaining an understanding of how other companies work and also meeting people from all areas of the oil industry.
C.C., Chevron
42
The Use of Advanced Instruments in International Oil Price Risk Management (TR3)
28 May- 1 Jun Oxford 26-30 Nov Oxford Course Fee: 3710 Fee + Accommodation: 4410 This course addresses the risks associated with oil trading focused on price. Building on material taught in TR1, this course covers the more advanced aspects of price risk management. Case studies will address each technique used in the management of risk. A case study with a continuous theme will also allow each group to manage a portfolio of their own group positions. Delegates will have the opportunity to trade both structured and live markets. It is recommended that delegates should have attended TR1 or have a strong working knowledge of the subjects covered in that course. The course commences with a half-day fast track recap of the key issues covered in TR1 prior to moving into the key issues the identification of risk, the tools available and the mechanisms used to manage it. The theory and mechanics of advanced instruments including futures, forwards, CFDs, swaps, traded and OTC options, and freight risk vehicles are explained. Their use in developing effective trading strategies is discussed and practiced in detail. A final session covers all risks and introduces the concept of VaR. Case studies will address each technique used in the management of risk.
What You Will Learn

Risks associated with oil trading The management of price independent of the physical deal The trading of paper markets in hedging and price management Trading strategies with futures Use of technical analysis Option theory and the behaviour and use of traded options Swap markets and strategies Freight risk exposure and management The theory and applications of CFDs The behaviour and use of over-the-counter (OTC) options The trade with EFPs To trade the forward curve Trading strategies appropriate to market participation of a producer, refiner and consumer
Who Should Attend

Personnel who have recently entered trading and need to increase their knowledge of derivatives and personnel in associated industries who wish to increase their knowledge of practical derivatives used by the oil industry.
Little plays help you understand concepts/etc - very good fun also.
P.J., Chevron Texaco
43
Total Risk Management in the International Oil and Derivatives Market (TRM)
24-28 Sep Oxford Course Fee: 3555 Fee + Accommodation: 4255 This course provides a comprehensive summary of the markets together with the techniques and range of trading instruments that are typically employed. The primary focus is the identification and management of the wide variety of risks that arise from the trading activity. The purpose is to enable delegates to design, critique and implement a control and monitoring regime within their own trading organization; information from which could be utilized to report to senior management. Case studies are used to learn the techniques involved, which will be reinforced in syndicate groups where risk arising from a portfolio of positions is assessed. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

The oil trading markets covering physicals, forwards, futures, swaps and traded and OTC options How to assess and monitor credit lines and use VAR in assessing a variety of risks Trading methodology as it relates to the identification and management of price risk How to structure credit and counterparty risks and implement a credit management programme Operational and market risks Futures, traded options, OTC swaps and options How to monitor and confirm trading positions and calculate P&L by marking to market Freight risk management Use the forward and futures markets to manage price risk including the use of EFPs Application of Value-at-Risk techniques to assess trading exposure and position limits
Who Should Attend

Trading managers and those managers to whom trading groups report, personnel responsible for monitoring and reporting the activity of the trading group to senior management within the organization and controllers, financial, back and middle-office personnel, compliance officers.
Excellent presentations
by both internal and external speakers.

M.D., ChevronTexaco
44
The Synergies of Refining, Trading and Supply (TRR)

9-13 Jul London 30 Jul- 2 Aug Singapore 3-7 Dec London Course Fee: Europe 3710 Asia US$5100 This advanced course is designed to provide delegates with a thorough understanding of the latest business techniques and refining technologies available to the oil supply, trading and refining industries, and highlights how the activities of these sectors may be optimized and synergized to maximize overall profitability. Through a variety of case studies, delegates will learn the principles of refinery planning and economics along with basic principles and techniques involved in trading and supply. Delegates will focus on the synergies between these sectors to maximize corporate profitability. Short-term operations and medium-term planning using linear programming and long-term investment decisions are addressed. It is recommended that delegates should have attended International Oil Supply, Transportation, Refining and Trading (SP1) or have working knowledge of the subjects covered in that course. There are no pre-requisites for this course, nor is any advanced preparation required. Please take note of the number of training days listed in the schedule, as it varies by location.
What You Will Learn

The influence of the world energy outlook on refining economics Selection of the optimum crude slate Using the trading market to maximize refining profitability The economics and technologies of refining Effective planning and optimization of the refinery operation Supply, refining and distribution optimization in a multiple refinery scenario Capturing added value by blending Processing - the commercial opportunities Adding value within the logistical chain Economic analysis of supply/refining Project investment evaluation Locking in the return of capital invested Measuring refinery performance Confronting the future of the refining industry - strategies and constraints
Who Should Attend

Personnel within the refining sector who have a direct involvement in the efficiency and profitability of the refinery operation and its interaction with the supply trading functions (e.g. planners and engineers). Personnel within the supply trading sector who have a direct involvement with the refinery operations, influencing its efficiency and profitability (e.g. traders and supply operators). Managerial staff within refining and supply trading who have responsibility for the overall profitability of their respective areas and synergistic relationships between these groups to enhance corporate profitability and analysts with refinery finance and investment. Fees do not include VAT, GST or any other required local taxes where applicable.
45
International Oil Trading - A Practical Approach to the Legal Issues for Successful Management of Claims and Disputes (TRL)
10-13 Sep London Course Fee: 3090 This course covers areas of dispute that may arise in the performance of international shipping and trading contracts. Using a mixture of current practice supported by legal interpretation and precedent, delegates will learn to avoid many of the pitfalls that may occur. Real case studies and exercises will provide hands-on experience to enable delegates to draft, interpret and operate oil trading contracts to minimize the risk of dispute. An on-going case study will simulate events taking place in an arbitration. See website for full course outline.
What You Will Learn

Contracts - Verbal and written agreement, confirmation process and written agreement, contract structure, terms and conditions - The Vienna Convention vs UK Sale of Goods Act Quantity and Quality - Methodology - internal standards vs terminal practice - Specifications and test methods, obligations of the inspector - Final and Binding, reproducibility vs. repeatability Nomination - Nominations Procedure, substitution, failure to nominate - Frustration and remedies, documentary instructions Documents - Rights of the Bill of Lading holder/right to sue - Tanker, ocean, charter party Bills of Lading - Clean, dirty, clausing, Note of Protest and markings - Shipper, consignee, endorsement, to the order, accomplishment - Role of the LOI, rights and obligations, bank co-signature Shipping - ISPS code and practice, safe port/ safe berth provisions Letters of Credit - Types of credit, documentary and standby - Role, obligations, rights of the banks opening, confirming and advising - UPC5000, Doctrine of Strict Compliance, Stale Bills of Lading - Presentation and expiration Breach of Contract - Frustration, repudiation/ cancellation, Force Majeure The Charter Party - Chart party terms and standard C/Ps - The obligations of the charterer and the owner/master - Special clauses, Carriage of Goods at Sea Act - Hamburg and Hague-Visby Rules - Remedies for non performance, Freight is Sacrosanct - Pollution and OPA Insurance, Claims and Damages - P&I Clubs, bulk oil clauses, underwriters, claims, inherent vice - Assessment of damages, consequential or remote damages - Obligation to mitigate, tort Dispute resolution - ADR, arbitration, litigation, jurisdiction, costs/appeal
Who Should Attend

In-house lawyers, trading, operations and chartering managers, personnel involved with administration of contracts and letters of credit, personnel involved in the handling of demurrage, quantity and quality claims, insurance personnel and experienced operational personnel.
46
E! NEWCOURS
International Trading Operations Practice (TROP)
19-21 Nov London Course Fee: 2680 This course provides the detailed practices and techniques involved in successful trading operations in today's international crude and product markets. It has been designed for front, middle and back office personnel who need a detailed insight into trading operation best practice and emphasizes the operational factors which have impact on corporate profitability and risk. It will also appeal to personnel who have recently joined an oil trading group of an oil major, investment bank or commodity trading company. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry. The course commences with the progress of a trade, from verbal agreement between two traders, through the subsequent preparation of the contract, operation of the contract with chartering and nomination of the tanker, invoicing and presentation of documents, culminating in post contractual settlement of claims arising from the contract operation. Each area is subsequently discussed in detail with further presentations which also include topics such the relevant quality and specifications of actively traded product groups, the logistics of managing pipeline and storage deals and appointment of inspectors The course places emphasis on avoiding operational errors which otherwise could be costly and lead to disputes. The exercises and case studies will strengthen the understanding of the course and its material.
What You Will Learn

Quantity and Quality Contracts - Measurement of quantity and quality - The legal requirements of a contract - Product types & grades - Structuring the key terms of a contract - Relevance of product qualities and price - Significance of reproducibility and - Contracts and controls repeatability Shipping - Understanding the basics and terminology Logistics - The Loading and discharging process - Calculation of freight and Worldscale - Blending linear and non linear - Chartering process and key terms - Other logistics including pipeline - Shipping operations operations - Demurrage - Storage logistics agreements, inventory Contract Operations and operations - Nomination procedures - Transaction costs - Documents and the Bill of Lading - Inspection of cargo and vessel - Price reporting - Insurance, losses and claims in oil - Letters of credit and the banks and shipping
Who Should Attend

Industry professionals within an oil/energy trading department with responsibilities in front, middle or back office functions. Fees do not include VAT, GST or any other required local taxes where applicable.
47
Trading and Operations within the International Oil Markets (TRSA)

Please contact us for dates and fees. This four-day course provides delegates with a fundamental understanding of the trading and operational features within the international oil industry - from the selection, purchase, shipment and refining of crude oil through to the subsequent selling of the refined products that meet stringent sales specifications. Emphasis is placed on understanding and successfully resolving the practical issues encountered by professionals within the industry. In addition to formal presentations, delegates will actively participate in exercises and role plays to reinforce their understanding of the topics presented.
What You Will Learn

How to select, value and subsequently trade crude oil How to charter an oil tanker to ship crude oil to the refinery or products to a customer How crude oil is refined into finish products Significance of quality and product specifications to the product trader How to select, value and subsequently trade finished products How to write and review contracts How to review letters of credit and cargo documents How to operate a contract for the sale or purchase of oil from its inception, through delivery to final payment How traders identify and lock in the profits of inter-regional arbitrage through hedging
Who Should Attend

New entrants to the oil industry, existing oil industry personnel within exploration, shipping, refining and marketing sectors who need to increase their understanding of oil trading and operations in the international markets, lawyers, bankers and accountants with oil industry clients, government officials involved in the oil and energy sector and tanker owners and shipping agents.
This course gave me an in-depth of risks involved in oil trading
understanding
plus a general overview

of trading and refining markets.
N.M., Caltex
48
Principles of International Oil Trading (TR0)

20-23 Jun Singapore 31 Oct- 3 Nov Singapore Course Fee: US$4350 This course covers the basic principles of international oil trading and the allied fields of supply, transportation and refining. Through the medium of a case study, delegates will address day-to-day problems and will understand the relevant commercial driving forces in this area. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry. Delegates are introduced to the key elements affecting the international market of oil trading. Crude valuation, ocean tanker transport and freight are explored together with a basic overview of terminals and pipelines. The structure of a refinery will be explained in the context of the need to produce marketable products. Aspects of product quality will be covered together with the key refining processes needed to achieve them.
What You Will Learn

The structure of the oil markets physical and paper Knowledge of freight costs key to trading How to evaluate spot tanker freight costs How oil and tanker contracts are structured How a refinery is configured Key points on product quality How key specifications are met How crudes and products are priced How to value crude oil based on product market prices and netbacks How and why trading is carried out How to execute a trade The essentials of constructing purchase/sale contracts Contract exposures and costs The use of hedging Basic tools available for hedging and position management
Who Should Attend

Personnel who are entering the international trading market and staff who interface with the trading sector and require a better understanding of trading practice such as management accounting, controllers, treasury or supply functions. Also, those in the legal and banking fields who want a better understanding of trading practice and managers changing disciplines into supply and trading as well as professional personnel inside and outside oil companies interfacing with supply, refining, trading and transportation functions and who need an overview of this sector such as legal, banking, insurance, finance and production.
This was a
great class. The two instructors,
are so knowledgeable that it was almost unbelievable that they teach and
share/transfer their knowledge base.

C.N., ChevronTexaco
49
International Oil Trading - Advanced Techniques and Strategic Price Risk Management (TR2)
25-27 Jun Singapore 5-7 Nov Singapore Course Fee: US$4350 This course covers the advanced trading techniques applicable to the management of price risk in international oil trading. Through a variety of case studies, delegates will learn the techniques involved in trading and how to address day-to-day problems of managing the price risk associated with the role of producer, refinery or consumer with an integrated trading position. Much of the work will be carried out in syndicate groups where delegates will learn to develop and manage trading strategies designed to maximize corporate profitability and reduce exposure to losses arising from the price fluctuations. It is recommended that delegates should either have attended Principles of International Oil Trading (TR0) or International Oil Trading and Pricing (TR1) or have a strong working knowledge of the subjects covered in these courses.
What You Will Learn

The significance of freight costs key to trading and how these may be hedged How international crude oils and products are priced How to trade in the futures and forwards markets How to use and understand the EFPs, swaps and CFDs Option theory and the factors affecting options trading The management of price risk within trading positions through the application of hedging techniques Freight hedging The development and management of successful trading strategies for the producer, refiner and the consumer The essentials of constructing purchase/sale contracts and arising exposures
Who Should Attend

The content of TR2 is such that delegates who consider attending TR2 will ideally either be experienced in the basic principles of international oil trading or have attended either of the appropriate introductory international oil trading courses (TR0 or TR1) at The Oxford Princeton Programme or elsewhere. Trading personnel who need to increase their knowledge of derivatives, personnel within the back or mid-offices, interacting daily with the trading function, staff who interface with the trading sector and require a better understanding of trading practice such as management accounting, controllers, treasury or supply functions and professionals in associated fields (e.g. legal and banking) who wish to increase their knowledge of practical derivatives used by the oil industry.
Great class! Very educational, I highly recommend it to anyone who wants to learn more about the dynamics of oil trading.
R.L., ConocoPhillips
50
Trading Operations Practice (TRSQ)

11-13 Apr Singapore Course Fee: US$4350 This course provides the detailed practices and techniques involved in successful trading operations in todays international crude and product markets. It has been designed for front, middle and back office personnel who need a detailed insight into trading operation practices and emphasizes the operational impacts to corporate profitability and risk. It will also appeal to personnel who have recently joined an oil trading group of an oil major, investment bank or commodity trading company. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry. The course commences with the progress of a trade, from verbal agreement between two traders, through the subsequent preparation of the contract, operation of the contract with chartering and nominations of the tanker, invoicing and presentation of documents, culminating in post contractual settlement of claims arising from the contract operation. Each area is subsequently discussed in detail with further presentations which also include topics such the quality and specifications of actively traded product groups; viz. gasoline and naphtha, middle distillates (diesel, gasoil and jet fuel) and residual fuels oils. Blending theory and practice, operation of storage and pipelines are also addressed.
What You Will Learn

Contracts - The legal issues - Structuring the terms of a contract - Contracts and controls Shipping - Understanding of the basics and terminology - Calculation of freight and worldscale - Chartering process and key charter party terms - Vessel operations and shipping economics - Demurrage Contract Operational Procedures - Nomination procedures - Documents and the Bill of Lading - Letters of credit and the banks Quantity and Quality - Measurement of quantity and quality - Middle distillates, gasoil, diesel and jet kerosene - Naphtha and gasoline - Fuel oil and heavy feedstocks - Blending, theory and practice Logistics - The Loading and discharging process - Pipeline operations - Storage: agreements and operations - Transaction costs - Losses and inspection
Who Should Attend

51
Tanker Ownership, Chartering and Operations (TD2)

21-25 May Oxford 24-28 Sep Oxford Course Fee: 3250 Fee + Accommodation: 3950 Making sound business decisions concerning tanker ownership, chartering, operations and coverage strategies demands a good understanding of key issues and their potential impact. This basic course covers the crude oil, petroleum products, chemicals and gas transportation sectors. This course also examines the important economic, financial, contractual, environmental and legislative issues when evaluating contract options, chartering and investment strategies, logistics and operating tactics. The emphasis of the course is on sound commercial practice, drawing on the working knowledge and experience of the various industry speakers. Case studies and practical sessions provide delegates with hands-on experience of decision making in this area. There are no pre-requisites for this course, nor is any advanced preparation required. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Key issues facing players in todays energy shipping markets How to use worldscale, calculate freight costs, undertake voyage estimates, and time charter conversions Dynamics of the tanker chartering, sale and purchase markets, how to analyze the trends and assess investment risk, as well as how tankers are financed Characteristics and driving forces that determine developments in the specialist gas and chemical carrier markets Factors determining oil company transportation coverage strategies and tanker owners chartering policies Important insights into how technical factors and the increasingly stringent rules governing vessel operations, safety and pollution prevention impact commercial decisions The essential elements of a voyage charter party and the differences in owners and charterers obligations under different forms of charter The process of tanker chartering and the role of the broker How the bunker fuel markets work and how bunkering strategies can be developed How to identify important insights in the commercial and technical management of a tanker fleet The experience of working with a group of energy and shipping industry executives, having a range of experiences, from a variety of organizations around the world
Who Should Attend

The supply, trading and risk management departments in oil, gas and petrochemical companies; the commercial and operations departments in the shipping affiliates or divisions of oil companies; the commercial and operations departments of ship owning companies; the planning and financial departments of shipping companies and oil company transportation divisions; banks and financial institutions involved in oil tanker, gas and chemical carrier finance, accountants, legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector. Fees do not include VAT, GST or any other required local taxes where applicable.
52
Tanker Ownership, Chartering and Operations (TD2E)

18-20 Apr Singapore Course Fee: US$4350 Making sound business decisions concerning tanker ownership, chartering, operations and coverage strategies demands a good understanding of key issues and their potential impact. This basic course covers the crude oil, petroleum products, chemicals and gas transportation sectors. This course also examines the important economic, financial, contractual, environmental and legislative issues when evaluating contract options, chartering and investment strategies, logistics and operating tactics. The emphasis of the course is on sound commercial practice, drawing on the working knowledge and experience of the various industry speakers. Case studies and practical sessions provide delegates with hands-on experience of decision making in this area. There are no pre-requisites for this course, nor is any advanced preparation required. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

To understand key issues facing players in todays energy shipping markets To use worldscale, calculate freight costs, undertake voyage estimate, and time charter conversions To understand the dynamics of the tanker chartering, sale and purchase markets, how to analyze the trends and assess investment risk, as well as how tankers are financed The characteristics and driving forces that determine developments in the specialist gas and chemicals carrier markets Factors determining oil company transportation coverage strategies and tanker owners chartering policies To appreciate the important insights into how technical factors and the increasingly stringent rules governing vessel operations, safety and pollution prevention impact commercial decisions The essential elements of a voyage charter party and the differences in owners and charters obligations under different forms of charter The process of tanker chartering and the role of the broker How the bunker fuel markets work and how bunkering strategies can be developed To identify important insights in the commercial and technical management of a tanker fleet The experience of working with a group of energy and shipping industry executives, having a range of experiences, from a variety of organizations around the world
Who Should Attend

The supply, trading and risk management departments in oil, gas and petrochemical companies, the commercial and operations departments in the shipping affiliates or divisions of oil companies, the commercial and operations departments of ship owning companies, the planning and financial departments of shipping companies and oil company transportation divisions, banks and financial institutions involved in oil tanker, gas and chemical carrier finance, accountants and legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector. Fees do not include VAT, GST or any other required local taxes where applicable.
53
The Chemicals Shipping Market Chartering and Operations (TD3)

Please contact us for dates and fees. The Asian region is the fastest growing area for chemical production and trade. Shipping is a vital part of the supply chain in the chemical sector and as such is a key element in the profitability, marketing and safe transportation of the commodities involved. The course combines lectures from senior professionals and carefully structured exercises, case studies and workshops. This 3-day course is designed to enhance the business knowledge of commercial, operational and financial personnel from ship-owning and operating companies, chemical producers and traders, banks and financial institutions. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

The chemical tanker market Chemical transportation economics IMO regulations, cargoes and ships - the latest developments Managing operational risk and chemical carrier vetting Psychology and techniques of successful negotiation The advantages and disadvantages of various contract options Business coverage and competition strategies Key charter party clauses - commercial aspects Chemical tanker demurrage Syndicate work
Who Should Attend

Commercial, operational and financial personnel from ship-owning and operating companies, chemical producers, chemical trading and distribution companies. Personnel from banks and financial institutions involved in chemical shipping, accountants and legal firms dealing with chemical transportation issues and management new to the transportation sector.
Good exposure and

learned a lot!
M.V., Petronas
54
Tanker Ownership and Chartering - Advanced Strategies and Risk Management (TD4)
23-25 Apr Singapore Course Fee: US$4350 Building on the knowledge gained in Tanker Ownership, Chartering and Operations (TD2), this three-day course offers delegates a more in-depth exploration of contracts and pricing issues surrounding the tanker industry. The course focuses on the implementation of tactics and practical strategies for enhancing commercial returns and business performance in tanker transportation - both from charterers and owners perspectives. It looks at how commercial risks may be hedged using freight futures or by entering into period charter agreements. Negotiating techniques and the key elements of contracts of affreightment are examined and discussed. A legal workshop provides a series of case studies designed to highlight some of the more common events impacting on commercial operations. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Understanding of the key issues facing players in todays oil tanker markets and how companies are responding Risk management through the futures and period charter markets Successful contract negotiating Strategies for improving operating returns Some key decisions from cases in maritime law
Who Should Attend

Delegates encouraged to attend include the supply, trading and risk management departments in oil companies as well as the commercial and operations departments in the shipping affiliates or divisions of oil companies. Also, the commercial and operations departments of ship owning companies and the planning and financial departments of shipping companies and oil company transportation divisions are urged to attend. Additionally, banks and financial institutions involved in oil tanker finance, accountants and legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector will find the programme valuable.
The practical sessions were great to fix all we learned from the presentations. The information exchanged and experiences shared were very helpful.
E.P.B., Nigeria LNG Ltd
55
Aviation Fuels: Supply, Trading and Risk Management (AV1)

18-20 Sep Oxford Course Fee: 2060 Fee + Accommodation: 2480 This three-day workshop provides an overview of the economics in the aviation fuels market. The course covers the key building blocks of knowledge for anyone needing to understand the jet fuel and aviation gasoline markets. Topics explored include the basics of aviation fuel production and refining processes, aviation fuels quality and specifications, supply and logistics, market fundamentals of supply and demand, jet fuel trading, pricing mechanisms, contracts and the management of price risk. Delegates will get the chance to participate in industry case studies and trading/pricing simulations.
What You Will Learn

Supply - Key refining processes used to produce aviation fuels - Quality standards, including key international specifications - Blending and the use of additives - Possible future sources of fuel including the development of synthetic jet fuel - Refining economics and trends Demand - Demand characteristics: volumes and geographic distribution - Growth rates and future market trends: overview of developments for new engines and aircraft; passenger and cargo traffic growth; airline competition Distribution and logistics - Distribution from refineries to terminals and airports - Marine, pipeline, road and rail infrastructure - Inventories and the use of storage - Airport fuel system operations - Supply chain optimization - Aviation fuel trading and marketing - Trading patterns and trade flows - Factors driving aviation fuel prices - Pricing mechanisms and price sources - Contracts, including types of contract and key terminology - Negotiations and tendering processes - Competition and fuel purchasing patterns - Trade market participants Price exposure and risk management - Impact of price volatility on fuel costs - Types of risk, including price and basis risk - Exposure and risk measurement - Tools for hedging: futures, forwards, swaps and options
Who Should Attend

Anyone who needs to know more about the aviation fuels marketing including those working in refining, marketing, distribution, trading, operations, risk management, purchasing, credit, finance, contracts and IT within an oil company, airline, airport or aviation authority.
56
Biofuels/Ethanol
Emerging Ethanol Energy Markets Introduction to Renewable Energy A Biofuels Overview
57
The Emerging Ethanol Energy Markets: A Comprehensive Overview (ETNL)

Please contact us for dates and fees. As biofuels continue to have a larger impact on todays fuel supply, this one-day workshop explores the role that bio-fuels, and particularly ethanol, play in the energy marketplace. This course examines the industry at all points throughout the supply chain, allowing course participants to better understand how bio-fuels are created, marketed, distributed and utilized within the fuel supply. Additionally, this workshop explains the importance that government regulation has played, and will play, in defining this industry. Often, the companies that are required to utilize bio-fuels are limited in their experience dealing with the intricacies of the bio-fuels market, as it differs from refined products. This workshop will bridge the gap between farmer and oilman, allowing the participant to better understand these unique and evolving commodities.
What You Will Learn

Historical and contemporary overview of the bio-fuels market Ethanol supply and demand analysis and discussion Government Involvement Incentives Logistics And Distribution Ethanol Production Next Generation technology, with an emphasis on the interaction to RFS 2 Key Contract Terms and Examples Basic Risk Management Techniques Bio-Diesel in the U.S. The Basics Trading Simulation - Delegates will be placed in teams for the simulation exercises
Who Should Attend

All energy professionals involved in the purchase, distribution and pricing of refined products including executives, middle managers, analysts and traders. This course will also be useful to bio-fuels marketing and manufacturing firms seeking to understand the complete supply chain and the impact of bio-fuels on end users. Executives, analysts, logistics personnel and sales representatives will benefit by gaining insight into their customers perspective and expectations, allowing them to better meet there needs.
58
Introduction to Renewable Energy: Resources, Technology and Commercial Opportunity (REN)

10-13 Sep Oxford Course Fee: 2575 Fee + Accommodation: 2995
E! NEWCOURS
This four-day course is designed to introduce participants to renewable energy and its role in the worlds energy complex. Renewable sources of consumed energy are identified and outputs compared to conventional sources. The course continues with examinations of the technologies, applications, current limitations, and future possibilities of renewable energy sources. Participants will gain perspectives and insights into the opportunities and challenges presented by renewable energy sources. To augment lecture materials, each day will include discussion topics generally focused on renewable energy realities in various countries as well as morning and afternoon delegate exercises.
What You Will Learn

Renewable Energy - Conventional and renewable energy consumption and comparisons - Renewable energy types Solar Energy - Photovoltaic cell - Concentrating solar power Hydrogen Wind Energy - Technology - Geographic suitability Geothermal Energy Biomass Biofuels Biopower Hydropower Hydroelectricity Cleaner coal Carbon capture and sequestration
Who Should Attend

Energy industry personnel and other professionals, including analysts, bankers, and lawyers, seeking to obtain a solid understanding of renewable energy and the broader energy complex would benefit from this course. Community planners, policy makers, and energy industry investors will find the course valuable.
59
A Biofuels Overview (BFO)

Please contact us for dates and fees. This course provides an introduction to biofuels. Presentations include new process technologies and feedstocks, specifications, performance, environmental aspects plus so-called second generation biofuels. These aspects and advances in engine technology have combined to present a range of potential problems in storage, handling and use. These difficulties need to be understood if the potential of this developing market is to be fully realized. Current and future challenges faced by the motor manufacturers, oil and additive industries will also be addressed. Throughout the two days emphasis will be placed on both the practicalities of biofuels and their real contribution to mitigating global warming.
What You Will Learn

The biofuels dilemma - a look at the conflicts surrounding biofuels Biofuel basics and manufacture - a (non-chemists) guide to the fundamentals Fuel combustion and related fuel characteristics - how the internal combustion engine burns its fuel and contrasts between conventional fuels and biofuels Understanding fuel specifications - how fuel specifications have evolved. The links between fuel properties and performance. Engine developments - a key issue for the biofuels market. As engine technology develops further, the demands on fuel quality intensify - can biofuels keep up? Biofuels specifications - the second day will largely be taken up with biofuels specifics. How do the latest feedstocks stack up in a number of critical areas? Advanced biofuels manufacture - to conclude, the course takes a look at second (third and fourth...) generation technologies. These hold the promise of being more cost effective and carbon neutral.
Who Should Attend

Oil and biofuel industry, additive and motor industry management. Staff involved with the quality, supply, refining, technical service and marketing of automotive fuels and concerned with the effective use of additives to maintain or improve quality. Motor industry technical management, policy makers, legislators.
60
Oil Industry
Supply and Trading Refining Shipping Logistics Retail Marketing LPG Petrochemicals Lubricants Oil Products Aviation Fuel Biofuels Geopolitics
61
E! NEWCOURS
Introduction to the Downstream Oil Business (DOB)
11-12 Jun Oxford Course Fee: 1960 Fee + Accommodation: 2240 This two day course provides an overview of the downstream oil business. The course will use a range of presentations, case studies, exercises and discussions to enable delegates to understand the main products and the main divisions of the downstream oil business. Please note that this course excludes paper oil trading, risk management and derivatives. No previous experience of downstream oil is required or assumed.
What You Will Learn

Introduction to the downstream side of international oil, following the physical flow of hydrocarbons and the value chain economics as oil passes from refinery production of the major oil products through distribution to marketing to end users. End market applications and quality issues for the major transportation fuels, industrial fuels, lubricants and bitumen. The main refinery processes, distribution activities and marketing to a wide range of customers. There is a strong emphasis on understanding both the supply side (the refinery) and demand side of oil product markets including both business (B2B) and consumer (B2C) markets and how product pricing and supply economics match the two sides.
Who Should Attend

New staff or managers transferring into the downstream from other parts of the oil business. Other delegates encouraged to attend include: marketing, planning, finance, commercial development, technical and other professional staff (from within or outside of the oil industry) who wish to gain a general understanding of how the downstream oil business works. The course is not aimed at existing downstream experts.
62
E! NEWCOURS
Downstream Sales & Marketing (DSM)
13-15 Jun Oxford Course Fee: 2575 Fee + Accommodation: 2995 This three-day course provides an overview of the sales and marketing of downstream oil products to end user customers (consumers B2C markets and businesses B2B markets). There are real opportunities for oil marketers to grow their businesses and profits. But, in a highly competitive environment, the marketers who succeed will be those who really understand their customers and markets and then act strategically. The course will enable delegates to create a differentiated marketing strategy that is appropriate for their respective businesses. It will provide practical tools and ideas to help implement strategy as well as build profitable business from selling refined oil products (covering the full range of transportation fuels, industrial fuels, lubricants and bitumen). By means of a range of presentations, case studies, exercises and discussions, delegates will consider practical issues and learn how to develop their own marketing strategies and tactics to add value to their organisations. No previous experience of sales and marketing is required or assumed.
What You Will Learn

How to develop a marketing strategy and marketing plan to create a strategic competitive advantage for your business. How to analyse a market and to evaluate the impact of trends on its future development. How to decide where to focus resources and how to assess marketing performance. The economic drivers of downstream oil products markets and how to set your product prices. The role of distribution channels and how to maximise your profits through effective channel management. The importance of customer segmentation and how to structure offers and prices accordingly. The role and value of branding & innovation to differentiate ones business.
Who Should Attend

Class delegates include anyone who needs to understand the petroleum industry. New members of the industry will be given a great introduction. Marketing personnel will grasp the intricacies of how the products they market come to exist. Those from the service side of the industry (brokerage, software, consulting) will also be given a great introduction to the petroleum industry.
63
Upstream Oil and Gas Industry - The Full E&P Picture (EXP1)
Please contact us for dates and fees. This course addresses the technical aspects of exploration, field development and oil, gas and gas liquid production. It also addresses the detailed economic, risk, fiscal and commercial issues from the perspective of a spectrum of potential corporate participants in large and small international upstream oil and gas projects. The course materials will include videos from E&P projects across the world and exercises to reinforce learning.
What You Will Learn

Where and how oil and gas accumulates in reservoirs in the Earths crust Prospecting and drilling techniques used to find, develop and produce oil and gas What is best practice in the upstream industry About existing and new technologies that facilitate and optimize technical recovery and maximize commercial returns for oil and gas companies How to overcome the technical issue and challenges that confront upstream operators Key upstream performance indicators used to judge finding, development and operating phases of activity Which negotiating and bidding strategies to use in different circumstances Fiscal and contract issues that impact long-term viability of oil and gas field development How risk and cost factors are monitored and managed in typical exploration and production projects The roles and opportunities in the sector for national oil companies (NOCs), major international oil companies (IOCs) and smaller independent companies Analytical approaches to valuation and funding of upstream projects from the perspectives of operators, service contractors, equity investors and lenders
Who Should Attend

As the course addresses technical, commercial, contractual, fiscal, strategy and operations almost all professional disciplines working in the upstream industry would benefit from the material included and broad perspective taken. The presentation of the course is made with a multi-disciplined audience in mind and non-professional support staff would also gain a good overview of the industry from this course.
64
Overview of the Petroleum Industry (OPI)

25 Jun Mexico City Course Fee: $1010 Those who attend will learn how companies search for crude oil and natural gas (exploration) and about how the material is brought up from underground (production). In addition, attendees will learn the basics of petroleum refining, transportation by vessel, pipeline, and truck, and be exposed to refined product marketing. Some discussion of the trading of physical crude oil and refined products is included in this course as well as the basics of paper trading.
What You Will Learn

Various methods used to locate deposits of crude oil and natural gas Geological formations and how they were created World crude oil reserves - their size and location Reserves/production ratios Drilling methods Explanation of production vocabulary Offshore drilling methodology Primary, secondary and tertiary recovery methods Properties of crude oil Comparison of the value of various crude oils Products produced from petroleum refining The three major areas of a petroleum refinery Overview of various operating units in a typical petroleum refinery Information associated with ocean going oil vessels Basics of petroleum pipelines Moving petroleum by rail and truck Distribution of petroleum products History and structure of the industry Oil pricing and markets
Who Should Attend

Class delegates include anyone who needs to understand the petroleum industry. New members of the industry will be given a great introduction. Marketing personnel will grasp the intricacies of how the products they market come to exist. Those from the service side of the industry (brokerage, software, consulting) will also be given a great introduction to the petroleum industry.
Good course.
Very thorough and great for someone new to the industry.

A.J., Aramco
65
Overview of the Physical Trading of Petroleum Products (PT)

Please contact us for dates and fees. This one-day workshop familiarizes delegates with the key elements of the physical petroleum product trading market. Topics explored include the major product blending pools and specifications, market fundamentals, technical analysis, key trading strategies and the mechanics of trading and operations. Delegates will learn product trading terminology, as well as get the chance to participate in industry case studies and a product trading simulation.
What You Will Learn

Purposes of product trading Product blending and specifications Market fundamentals - Supply and demand trends - Imports, exports and trade flows - Inventories Technical analysis Trading strategies - Price differentials and arbitrage - Refining economics - Storage plays - Spot and term markets - Paper markets and hedging Mechanics of trading - Contracts and negotiations Operations - Marine, pipeline, road and rail transportation
Who Should Attend

Anyone who needs to know more about the product trading side of the oil industry including everyone from support staff to those in management positions in the areas of trading, supply, risk management, operations, transportation and storage.
66
The Changing Geopolitics of Oil and Gas: Identifying and Managing Political Risk (GEOP)
Please contact us for dates and fees. This two-day workshop explores geopolitical context within which oil and gas companies operate and how it affects daily business practices. This will be done, with a view toward understanding particular geographical locales and associated political risks. Regions to be covered include: United States, Africa, Latin America, and Middle East and Asia. Special emphasis will be placed on the rise of resource nationalism, as evidenced by the more than 100 national oil companies that currently exist. Moreover, political risk tools and strategies will be presented so that delegates learn concrete skills that they can use in their work.
What You Will Learn

Historical and contemporary overview of the geopolitics of oil and gas Understanding what political risk is Identifying specific above-ground political risks in the oil and gas industry - Politics and governance - Security - Reputation and social - Infrastructure and health Regional political risks - Africa: emphasis on West and Central Africa and emphasis on national oil companies - Latin America: emphasis on Bolivia, Brazil, Ecuador and Venezuela - Middle East: emphasis on Gulf states and Iran - Asia: emphasis on the rise of China as a global actor and implications for the industry Political risk mitigation tools (strengths and weaknesses) - Political risk insurance - Security - Multi-stakeholder engagement - Internal policies - Portfolio diversification The course includes exercises based on actual political scenarios and case studies. Delegates are also placed in teams to facilitate learning.
Who Should Attend

All energy professionals involved in considering political risk mitigation strategies including executives, middle managers, analysts, in-house lawyers, project managers and government officials.
67
Overview of and Opportunities in Latin American Crude Oil (LACO)

Please contact us for dates and fees. This workshop introduces participants to the Latin American crude oil market and the countries with the most significant operations. This course will also review the geopolitics, state-owned national oil companies (NOCs), and the regulatory environment specific to the most significant Latin American oil producing countries. The course will offer a special focus on crude oil operations, challenges and opportunities in Brazil, Mexico, Venezuela, Colombia, Peru, Argentina, and Chile. The course addresses both independent (IOC) and national (NOC) Latin American oil companies and includes review of major regional upstream, downstream, and refining operations.
What You Will Learn

Overview of regional crude market Brazilian regulatory environment Agencia Nacional do Petroleo and its role Concessions in Brazil Brazilian deepwater, Presalt discoveries Role of oil juniors and independents in Brazil Brazil and its role in regional interdependence Brazilian production, reserves, and strategies for growth The Mexican crude market Role of CFE and the regulatory climate The role of the government and future prospects 2008 Energy Reform in Mexico Review of Mexican crude production, reserves and strategies Venezuela - market overview Reserves and the Orinoco Belt Venezuelan crude production, reserves and strategies Geopolitics of Venezuela Colombian crude market production, reserves and strategies Colombian regulatory environment Colombia: a growth story in crude oil development The role of oil juniors in Colombia and Peru Growth in the Peruvian market Peruvian regulatory environment Peru's reserves, production and growth strategies The Andean markets of Chile, Argentina, and Bolivia Challenges and opportunities in Chile and Argentina Regulation and opportunity in Chile Reserves and crude production in Chile and Argentina Regulation in Argentina and Bolivia
Who Should Attend

Global energy-related companies engaged in the due diligence process for potential joint venture, partnership, concession, or other assessment opportunities in the Latin American crude oil sector. Any professional, in any discipline, seeking a better understanding of analyzing opportunities in the complex Latin American energy market would find this course of interest including bankers, lawyers, analysts and other participants in the energy sector. Fees do not include VAT, GST or any other required local taxes where applicable.
68
Overview of Physical Crude Oil Trading and Operations (CT)

23-24 Jan London 30-31 Jan Singapore 7-8 May Calgary 18-19 Jun New York 16-17 Jul Melbourne 20-21 Aug Cape Town 10-11 Sep London 17-18 Sep Singapore 29-30 Oct Calgary 3-4 Dec Zug Course Fee: Europe 1175 Africa 1350 North America $1575 Asia US$2390 Australia US$2390
In this introductory workshop, delegates will gain an in-depth understanding of how the physical crude oil trading market works. Besides an invaluable exposure to terminology, each delegate will experience all the steps in typical domestic and foreign crude oil transactions. The linkage between new well production, marketing, transportation, storage, and refining to physical trading (both speculatively and as a hedge vehicle) will be explored.
What You Will Learn

Major components of physical crude oil operations Worldwide logistics of crude oil (wellhead to refinery) International and domestic trading patterns and major trade locations How crude oil is selected and optimized by a refiner Major price components Art of the trade and verbal counter-party negotiations Spot vs. term deals - critical path steps of a typical crude oil negotiation Crude contract terminology, credit instruments and legal issues Pipeline and marine nomination procedures How to maximize profit from trading strategies and operations An overview of fundamental and technical analysis and hedging strategies
Who Should Attend

Class delegates include anyone who has a requirement or interest in understanding the mechanics of physical crude oil trading and operations. This typically includes trading and contract analysts, personnel from upstream pipeline and marine operations, product supply, refinery operations, information technology, accounting, those new to the industry and crude oil trading staff all the way up to middle and senior management new to this trading discipline.
It was a great opportunity to see some of the other aspects of the oil and gas industry that I dont see day to day.
Very informative and enjoyable.

M.B. Nexen
69
Fundamentals of Petroleum Refining A Non-Technical Introduction (FPR)

25-26 Jan Houston 25-26 Jan London 1-2 Feb Singapore 9-10 May Calgary 20-21 Jun New York 26-27 Jun Mexico City 18-19 Jul Melbourne 22-23 Aug Cape Town 12-13 Sep London 19-20 Sep Singapore 31 Oct- 1 Nov Calgary 5-6 Dec Zug Course Fee: Europe 1175 Africa 1350 North America $1575 Asia US$2390 Australia US$2390 Fees do not include VAT, GST or any other required local taxes where applicable.
You dont need an engineering degree to understand the fundamentals of petroleum refining! This exciting programme is designed to introduce non-technical oil industry members to the fascinating field of petroleum refining. Learn how a refinery works and how refinery operations affect global oil and product prices.
What You Will Learn

Fundamentals of crude oil Petroleum chemistry made easy The three stages of refining Atmospheric and vacuum distillation Cracking processes - Catalytic cracking - Thermal cracking - Coking - Hydrocracking Catalytic reforming Gas plants Isomerization Alkylation Hydrotreating Blending for finished products - Gasolines - Distillates - Residuals Refinery economics terms
Who Should Attend

Class delegates include anyone who needs to understand how this cornerstone of the petroleum industry works. New members of the industry will be given a great introduction. Marketing personnel will grasp the intricacies of how the products they market come to exist. Those from the service side of the industry (brokerage, software, consulting) will get a first-hand view of this, the most fundamental aspect of the oil business.
Instructor was
very knowledgeable and interesting.

Trading simulation was very good and hands on as far as learning. Really enjoyed the course overview.
D.Y. CCS Energy
70
Fundamentals of Refinery Economics and Blending (FREB)

27 Jan Houston 3 Feb Singapore 11 May Calgary 22 Jun New York 28 Jun Mexico City 20 Jul Melbourne 24 Aug Cape Town 14 Sep London 21 Sep Singapore 7 Dec Zug Course Fee: Europe 805 Africa 830 North America $1135 Asia US$1630 Australia US$1630
E! NEWCOURS
This one-day workshop starts with a focus on specifications, blending and valuation followed by fundamentals of refining planning and optimisation; factors that affect refinery profitability, margin calculations, as well as trends in refining and product demand. Delegates attending this course will have completed as a prerequisite the two-day Fundamentals of Petroleum Refining A Non-Technical Introduction which is scheduled right before this workshop for those who wish to take the two courses back-to-back.
What You Will Learn

Product quality and specifications - Key quality test methods for petroleum products - Specifications for major products and regional differences - Product specification trends and outlook - 1st and 2nd generation biofuels - xTL products (coal-to-liquids, gas-to-liquids, biomass-to-liquids) Blending - Blending methods - Qualities of blendstocks from different refinery units and how they blend together - Blending considerations for major products: gasoline, jet fuel, gasoil/heating oil/diesel and residual fuel oil - Types and use of additives Refinery economics: - Crude quality and valuation - Refinery complexity, types and process decisions - Product costing and valuation - Planning and optimisation processes, including use of LP models - Process costs and investment decisions - Calculating refinery margins, and managing price risk - Benchmarking performance Refining outlook - Development and trends in refining, including the impact of environmental regulations - Changes in demand and trade of petroleum products - New technologies and unit developments
Who Should Attend

Class delegates include those new to refining, as well as non-technical staff who wish to learn more about oil refining, including support staff, analysts and management in the areas of supply, operations, trading, marketing, risk management, finance, contracts and IT. This course is ideal for those who have already completed Fundamentals of Petroleum Refining (FPR).
71
Oil Trading Orientation (OTO)

24-26 Apr Houston 8-10 May Dubai 18-20 Jun Melbourne 19-21 Jun Stavanger 2-4 Oct Geneva 6-8 Nov Cape Town 13-15 Nov Houston 3-5 Dec Calgary 3-5 Dec Singapore 10-12 Dec London Course Fee: Europe 2060 North America $3090 Asia US$3200 Australia US$3200 Middle East and Africa 2200
This three-day workshop familiarizes delegates with the key aspects to successful crude oil and petroleum product trading. Topics explored include crude oil quality, product blending and specifications, market fundamentals, technical analysis, key trading strategies, pricing mechanisms and the mechanics of trading and operations. Delegates will learn trading terminology, as well as get the chance to participate in industry case studies and trading simulations.
What You Will Learn

Purpose of oil trading Crude oil quality and selection Key refining processes Product blending and specifications Market fundamentals - Supply and demand trends - Imports, exports and trade flows - Inventories Technical analysis Crude oil valuation and pricing Price components Major trading patterns and locations Trading strategies - Price differentials and arbitrage - Refining economics - Storage plays Spot, term and paper markets Price exposure and risk management Hedging with futures, exchange-based and OTC options and swaps Mechanics of trading, contracts and negotiations Operations and marine, pipeline, road and rail transportation logistics
The course includes exercises based on actual market scenarios including crude oil selection and valuation, gasoline blending, storage plays and hedging case studies. Delegates are also placed in teams to participate in crude oil and product trading simulations.
Who Should Attend

Class delegates include anyone who needs to know more about trading - everyone from support staff, analysts, accountants and management in the areas of trading, supply, risk management, credit, finance, contracts, IT, operations, transportation and storage.
Strong base of information for understanding

the fundamentals of trading and the fields
necessary to energy.
F.A. ConocoPhillips
72
Communicating and Negotiating Major Contracts in the Oil and Gas Industry (CNOG)
8-10 Oct Oxford Course Fee: 2170 Fee + Accommodation: 2590
E! NEWCOURS
This course covers all areas aspects of communication that are likely to be encountered in negotiating international contract in the oil and gas industry. Delegates will learn how to make the right first impression, how to understand the dynamics of a negotiation with people from another culture, how to negotiate successfully in an international arena and how to avoid many of the pitfalls that may occur. Case studies and exercises will provide hands-on experience to enable delegates to improve their effectiveness in inter-cultural situations encountered when negotiating international contracts.
What You Will Learn

The effective use of verbal communication, including paralinguistics Interpretation of non-verbal communication, including the meaning of :- Personal space - Different perceptions of time - The context in which communication occurs - The implications of touching, including handshaking - Reading eyes, faces, hands, body posture etc - Gift giving etc Cultural differences based on perceptions of power, support, risk, context, individuality and other relevant factors Effective means of persuasion Effective techniques in negotiation How to manage and successfully resolve conflict and disputes
Who Should Attend

This is an immensely valuable course for anyone seeking improved communication skills, anyone needing to deal with people from another culture, anyone being posted abroad into a new culture and everyone involved in contract negotiations. Its case studies and exercises are tailored towards the oil and gas industry but its messages apply to all communication and negotiation with particular emphasis on inter-cultural differences. As all life is a negotiation the course is therefore widely applicable to all levels of management in internationally focussed industries. This includes, inter alia, contract negotiators, sales, marketing and commercial personnel and financial specialists, operators, planners and analysts from international oil and gas producers, suppliers, shippers, importers and consuming companies. Bankers, lawyers and specialist advisers to the oil and gas industry will also sfind the course valuable. Expatriated personnel will also find it especially useful.
73
International Oil Supply, Transportation, Refining and Trading (SP1)

27 Feb- 2 Mar Oxford 2-6 Jul Oxford 3-7 Sep Oxford Course Fee: 3090 Fee + Accommodation: 3790 This course provides an overview of the oil supply chain. Topics include upstream economics, transporting crude oil from source to the refinery, through processing, trading and finally, the retailing of oil products. Designed for new entrants to the oil industry, this course is ideal for use as part of an induction programme or for bringing those transferring disciplines up to speed with the area. Those without prior knowledge of the oil industry may wish to familiarize themselves through our Introduction to the Oil Industry course. Through the medium of continuous case studies, delegates will address day-to-day problems in order to understand the relevant commercial driving forces in this area.
What You Will Learn

Fundamental analysis Supply relationship with upstream Valuing of crude oil based on product market prices How to evaluate spot tanker freight costs How tankers are chartered How oil and tanker contracts are structured How to evaluate netbacks How a refinery is structured The refinery petrochemical interface The interface with retail, industrial and transportation markets The key points on product quality Know how key specifications are met To appreciate fundamental economic drivers of the downstream How the international oil markets are priced The basic use of hedging within a trading environment
Who Should Attend

New entrants to the oil industry and integrated sections as supply, trading and logistics. Managers changing disciplines into the downstream, professional personnel inside and outside oil companies interfacing with supply, refining, trading and transportation functions and who need an overview of this sector such as legal, banking, insurance, finance and production should attend.
Very good and quite intensive

for the level I was looking
i.e. perfect combination!

S.V., Chevron Texaco
74
International Oil Trading and Pricing (TR1)

23-27 Apr Oxford 1-5 Oct Oxford Course Fee: 3710 Fee + Accommodation: 4410 This course covers the basic principles of oil trading and the markets. Through a variety of case studies, delegates will learn the techniques involved in trading and how to address day-to-day problems. During the week, in a continuous theme case study, syndicate groups will manage their own company trading positions in products and crude oil, while reacting to new positions generated and changing market prices which simulate a live situation. Delegates will also have the opportunity to trade speculatively on live futures markets. It is recommended that delegates should have attended "International Oil Supply, Transportation, Refining and Trading" (SP1) or have working knowledge of the subjects covered in that course. After reviewing the background of supply, refining and transportation, the course focuses on the key markets, physical crudes and products, and the pricing mechanisms involved in their trading. Aspects of the various exposures encountered in trading are covered together with an introduction to price risk management and hedging using futures. The concept of basis risk and its avoidance using swaps and options will also be explored. The week will close with an introduction to advanced price management concepts. Syndicate exercises will address each skill required.
What You Will Learn

The structure of the oil markets and pricing Keys to trading: product quality, freight costs and refining process Comprehend the Brent Market and its influence on international pricing Position management with basic hedging tools The structure of purchase/sales contracts including exposures and transactions Price risk management & EFPs Developing successful trading strategies The use of trading instruments to capture the market Use of Freight Forwards to manage freight risk Working the arbitrage Structured and live markets
Who Should Attend

Personnel who are entering the trading arena, oil company staff who interface with the oil trading sector and require a better understanding of trading practice such as management accounting, financial control, treasury, supply or production functions and those in the legal and banking fields who want a better understanding of trading practice.
Thought the course was great, not just for the content
an
understanding of how other companies work

C.C., Chevron
learned but also from a networking aspect & gaining
and also meeting people from all areas of the oil industry.
75
The Use of Advanced Instruments in International Oil Price Risk Management (TR3)
28 May- 1 Jun Oxford 26-30 Nov Oxford Course Fee: 3710 Fee + Accommodation: 4410 This course addresses the risks associated with oil trading focused on price. Building on material taught in TR1, this course covers the more advanced aspects of price risk management. Case studies will address each technique used in the management of risk. A case study with a continuous theme will also allow each group to manage a portfolio of their own group positions. Delegates will have the opportunity to trade both structured and live markets. It is recommended that delegates should have attended TR1 or have a strong working knowledge of the subjects covered in that course. The course commences with a half-day fast track recap of the key issues covered in TR1 prior to moving into the key issues the identification of risk, the tools available and the mechanisms used to manage it. The theory and mechanics of advanced instruments including futures, forwards, CFDs, swaps, traded and OTC options, and freight risk vehicles are explained. Their use in developing effective trading strategies is discussed and practiced in detail. A final session covers all risks and introduces the concept of VaR. Case studies will address each technique used in the management of risk.
What You Will Learn

Risks associated with oil trading The management of price independent of the physical deal The trading of paper markets in hedging and price management Trading strategies with futures Use of technical analysis Option theory and the behaviour and use of traded options Swap markets and strategies Freight risk exposure and management The theory and applications of CFDs The behaviour and use of over-the-counter (OTC) options The trade with EFPs To trade the forward curve Trading strategies appropriate to market participation of a producer, refiner and consumer
Who Should Attend

Personnel who have recently entered trading and need to increase their knowledge of derivatives and personnel in associated industries who wish to increase their knowledge of practical derivatives used by the oil industry.
76
Total Risk Management in the International Oil and Derivatives Market (TRM)
24-28 Sep Oxford Course Fee: 3555 Fee + Accommodation: 4255 This course provides a comprehensive summary of the markets together with the techniques and range of trading instruments that are typically employed. The primary focus is the identification and management of the wide variety of risks that arise from trading activity. The purpose is to enable delegates to design, critique and implement a control and monitoring regime within their own trading organization information from which could be utilized to report to senior management. Case studies are used to learn the techniques involved, which will be reinforced in syndicate groups where risk arising from a portfolio of positions is assessed. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

To understand the oil trading markets covering physicals, forwards, futures, swaps and traded and OTC options How to assess and monitor credit lines and use VAR in assessing a variety of risks Trading methodology as it relates to the identification and management of price risk How to structure credit and counterparty risks and implement a credit management programme Operational and market risks Futures, traded options, OTC swaps and options How to monitor and confirm trading positions and calculate P&L by marking to market Freight risk management To use the forward and futures markets to manage price risk including the use of EFPs To apply Value-at-Risk techniques to assess trading exposure and position limits
Who Should Attend

Trading managers and those managers to whom trading groups report, personnel responsible for monitoring and reporting the activity of the trading group to senior management within the organization and controllers, financial, back and middle-office personnel and compliance officers should attend.
Excellent presentations by both

internal and external speakers.

M.D., Chevron Texaco
77
The Synergies of Refining, Trading and Supply (TRR)

9-13 Jul London 30 Jul- 2 Aug Singapore 3-7 Dec London Course Fee: Europe 3710 Asia US$5100 This advanced course is designed to provide delegates with a thorough understanding of the latest business techniques and refining technologies available to the oil supply, trading and refining industries and highlights how the activities of these sectors may be optimized and synergized to maximize overall profitability. Through a variety of case studies, delegates will learn the principles of refinery planning and economics along with basic principles and techniques involved in trading and supply. Delegates will focus on the synergies between these sectors to maximize corporate profitability. Short term operations, medium term planning using linear programming and long term investment decisions are addressed. It is recommended that delegates should have attended SP1 or have working knowledge of the subjects covered in that course. There are no pre-requisites for this course, nor is any advanced preparation required. Please take note of the number of training days listed in the schedule, as it varies with location.
What You Will Learn

The influence of the world energy outlook on refining economics Selection of the optimum crude slate Using the trading market to maximize refining profitability The economics and technologies of refining Effective planning and optimization of the refinery operation Supply, refining and distribution optimization in a multiple refinery scenario Capturing added value by blending Processing - the commercial opportunities Adding value within the logistical chain Economic analysis of supply/refining Project investment evaluation Locking in the return of capital invested Measuring refinery performance Confronting the future of the refining industry - strategies and constraints
Who Should Attend

Personnel within the refining sector who have a direct involvement in the efficiency and profitability of the refinery operation and its interaction with the supply trading functions, (e.g. planners and engineers). Personnel within the supply trading sector who have a direct involvement with the refinery operations, influencing its efficiency and profitability (e.g. traders and supply operators). Managerial staff within refining, and supply trading who have responsibility for the overall profitability of their respective areas and synergistic relationships between these groups to enhance corporate profitability and analysts with refinery finance and investment. Fees do not include VAT, GST or any other required local taxes where applicable.
78
Fundamentals of Refining and Supply Economics (TRFE)

Please contact us for dates and fees. Fundamentals of Refining and Supply Economics is designed to provide delegates with a thorough understanding of the technical principles of refining and its economic drivers. Through a combination of presentations and case studies, delegates will learn the principles of refinery operations and planning, the commercial aspects affecting crude selection and operation of the refinery. T hroughout the course delegates participate in a refinery simulation whereby they select and purchase optimal crude cargoes, nominate finished product sales. The refineries are also exposed to the vagaries of the international oil market. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

The chemistry of crude oil, interpretation of a crude oil assay and their influence on the refinery operation The chemistry of the key refining processes The technologies, costs and optimization of key refining processes Financial evaluation techniques as applied to project investment The workings of tanker markets and how freight is calculated Commercial aspects of crude oil selection Blending of intermediate streams into finished products The significance of finished product specifications to the refiner, shipper and end user The workings of the international oil trading markets
Who Should Attend

Personnel within the refining sector who have direct involvement in the technical, operational and commercial aspects of the refinery operation (e.g. planners, engineers and process operators) Personnel within the supply trading sector who have a direct involvement in refinery operations (e.g. supply planners and operators). New graduates to the refining and supply departments.
79
International Oil Trading - A Practical Approach to the Legal Issues for Successful Management of Claims and Disputes (TRL)
10-13 Sep London Course Fee: 3090 This course covers areas of dispute that may arise in the performance of international shipping and trading contracts. Using a mixture of current practice supported by legal interpretation and precedent, delegates will learn to avoid many of the pitfalls that may occur. Real case studies and exercises will provide hands-on experience to enable delegates to draft, interpret and operate oil trading contracts to minimize the risk of dispute. An on-going case study will simulate events taking place in an arbitration. See website for full course outline.
What You Will Learn

Contracts - Verbal and written agreement, confirmation process and written agreement, contract structure, terms and conditions - The Vienna Convention vs UK Sale of Goods Act Quantity and Quality - Methodology - internal standards vs terminal practice - Specifications and test methods, obligations of the inspector - Final and Binding, reproducibility vs. repeatability Nomination - Nominations Procedure, substitution, failure to nominate - Frustration and remedies, documentary instructions Documents - Rights of the Bill of Lading holder - Right to sue - Tanker, ocean, charter party Bills of Lading - Clean, dirty, clausing, Note of Protest and markings - Shipper, consignee, endorsement, to the order, accomplishment - Role of the LOI, rights and obligations, bank co-signature Shipping - ISPS code and practice, safe port/ safe berth provisions Letters of Credit - Types of credit, documentary and standby - Role, obligations, rights of the banks opening, confirming and advising - UPC5000, Doctrine of Strict Compliance, Stale Bills of Lading - Presentation and expiration Breach of Contract - Frustration, repudiation/ cancellation, Force Majeure The Charter Party - Chart party terms and standard C/Ps - The obligations of the charterer and the owner/master - Special clauses, Carriage of Goods at Sea Act - Hamburg and Hague-Visby Rules - Remedies for non performance, Freight is Sacrosanct - Pollution and OPA Insurance, Claims and Damages - P&I Clubs, bulk oil clauses, underwriters, claims, inherent vice - Assessment of damages, consequential or remote damages - Obligation to mitigate, tort Dispute resolution - ADR, arbitration, litigation, jurisdiction, costs/appeal
Who Should Attend

In-house lawyers, trading, operations and chartering managers, personnel involved with administration of contracts and letters of credit, personnel involved in the handling of demurrage, quantity and quality claims, insurance personnel and experienced operational personnel. Fees do not include VAT, GST or any other required local taxes where applicable.
80
E! NEWCOURS
International Trading Operations Practice (TROP)
19-21 Nov London Course Fee: 2680 This course provides the detailed practices and techniques involved in successful trading operations in today's international crude and product markets. It has been designed for front, middle and back office personnel who need a detailed insight into trading operation best practice and emphasizes the operational factors which have impact on corporate profitability and risk. It will also appeal to personnel who have recently joined an oil trading group of an oil major, investment bank or commodity trading company. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry. The course commences with the progress of a trade, from verbal agreement between two traders, through the subsequent preparation of the contract, operation of the contract with chartering and nomination of the tanker, invoicing and presentation of documents, culminating in post contractual settlement of claims arising from the contract operation. Each area is subsequently discussed in detail with further presentations which also include topics such the relevant quality and specifications of actively traded product groups, the logistics of managing pipeline and storage deals and appointment of inspectors The course places emphasis on avoiding operational errors which otherwise could be costly and lead to disputes. The exercises and case studies will strengthen the understanding of the course and its material.
What You Will Learn

Quantity and Quality Contracts - Measurement of quantity and quality - The legal requirements of a contract - Product types & grades - Structuring the key terms of a contract - Relevance of product qualities and price - Significance of reproducibility and - Contracts and controls repeatability Shipping - Understanding the basics and terminology Logistics - The Loading and discharging process - Calculation of freight and Worldscale - Blending linear and non linear - Chartering process and key terms - Other logistics including pipeline - Shipping operations operations - Demurrage - Storage logistics agreements, inventory Contract Operations and operations - Nomination procedures - Transaction costs - Documents and the Bill of Lading - Inspection of cargo and vessel - Price reporting - Insurance, losses and claims in oil - Letters of credit and the banks and shipping
Who Should Attend

81
Trading and Operations within the International Oil Markets (TRSA)

Please contact us for dates and fees. This four-day course provides delegates with a fundamental understanding of the trading and operational features within the international oil industry - from selection, purchase, shipment and refining of crude oil to the subsequent selling of refined products that meet stringent sales specifications. Emphasis is placed on understanding and successfully resolving the practical issues encountered by professionals within the industry. In addition to formal presentations, delegates will actively participate in exercises and role plays to reinforce their understanding of the topics presented.
What You Will Learn

How to select, value and subsequently trade crude oil How to charter an oil tanker to ship crude oil to the refinery or products to a customer How crude oil is refined into finished products Significance of quality and product specifications to the product trader How to select, value and subsequently trade finished products How to write and review contracts How to review letters of credit and cargo documents How to operate a contract for the sale or purchase of oil from its inception through delivery to final payment How traders identify and lock in the profits of inter-regional arbitrage through hedging
Who Should Attend

New entrants to the oil industry, existing oil industry personnel within exploration, shipping, refining and marketing sectors who need to increase their understanding of oil trading and operations in the international markets, lawyers, bankers and accountants with oil industry clients, government officials involved in the oil and energy sector and tanker owners and shipping agents all should attend.
Excellent course lecturers/facilitators, excellent analogies.

C.C. Chevron Zambia Ltd
82
Principles of International Oil Trading (TR0)

20-23 Jun Singapore 31 Oct- 3 Nov Singapore Course Fee: US$4350 This course covers the basic principles of international oil trading and the allied fields of supply, transportation and refining. Through the medium of a case study, delegates will address day-to-day problems and will understand the relevant commercial driving forces in this area. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry. Delegates are introduced to the key elements affecting the international market of oil trading. Crude valuation, ocean tanker transport and freight are explored together with a basic overview of terminals and pipelines. The structure of a refinery will be explained in the context of the need to produce marketable products. Aspects of product quality will be covered together with the key refining processes needed to achieve them.
What You Will Learn

The structure of the oil markets physical and paper Knowledge of freight costs key to trading How to evaluate spot tanker freight costs How oil and tanker contracts are structured How a refinery is configured Key points on product quality How key specifications are met How crudes and products are priced How to value crude oil based on product market prices and netbacks How and why trading is carried out How to execute a trade The essentials of constructing purchase/sale contracts Contract exposures and costs The use of hedging Basic tools available for hedging and position management
Who Should Attend

Personnel who are entering the international trading market, staff who interface with the trading sector and require a better understanding of trading practice such as management accounting, controllers, treasury or supply functions. Those in the legal and banking fields who want a better understanding of trading practice and managers changing disciplines into supply and trading should attend. Professional personnel inside and outside oil companies interfacing with supply, refining, trading and transportation functions and who require an overview of this sector such as legal, banking, insurance, finance and production all should attend this course.
Very
comprehensive and delivery is very interesting.

H.H. JP Morgan Chase Bank
83
International Oil Trading - Advanced Techniques and Strategic Price Risk Management (TR2)
25-27 Jun Singapore 5-7 Nov Singapore Course Fee: US$4350 This course covers the advanced trading techniques applicable to the management of price risk in international oil trading. Through a variety of case studies, delegates will learn the techniques involved in trading and how to address day-to-day problems of managing the price risk associated with the role of producer, refinery or consumer with an integrated trading position. Much of the work will be carried out in syndicate groups where delegates will learn to develop and manage trading strategies designed to maximize corporate profitability and reduce exposure to losses arising from the price fluctuations. It is recommended that delegates should either have attended Principles of International Oil Trading (TR0) or International Oil Trading and Pricing (TR1) or have a strong working knowledge of the subjects covered in these courses.
What You Will Learn

The significance of freight costs key to trading and how these may be hedged How international crude oils and products are priced How to trade in the futures and forwards markets How to use and understand the EFPs, swaps and CFDs Option theory and the factors affecting options trading The management of price risk within trading positions through the application of hedging techniques Freight hedging The development and management of successful trading strategies for the producer, refiner and the consumer The essentials of constructing purchase/sale contracts and arising exposures
Who Should Attend

The content of TR2 is such that delegates who consider attending TR2 will ideally either be experienced in the basic principles of international oil trading or have attended either of the appropriate introductory international oil trading courses (TR0 or TR1) at The Oxford Princeton Programme or elsewhere. Trading personnel who need to increase their knowledge of derivatives, personnel within the back or mid-offices, interacting daily with the trading function, staff who interface with the trading sector and require a better understanding of trading practice such as management accounting, controllers, treasury or supply functions and professionals in associated fields (e.g. legal and banking) who wish to increase their knowledge of practical derivatives used by the oil industry.
Top quality class Fees do not include VAT, GST or any other required local taxes where applicable.
recommended for the
ambitious.
M.S., Chevron
84
Trading Operations Practice (TRSQ)

11-13 Apr Singapore Course Fee: US$4350 This course provides the detailed practices and techniques involved in successful trading operations in todays international crude and product markets. It has been designed for front, middle and back office personnel who need a detailed insight into trading operation practices and emphasizes the operational impacts to corporate profitability and risk. It will also appeal to personnel who have recently joined an oil trading group of an oil major, investment bank or commodity trading company. Much of the work will be carried out in syndicate groups where teams will simulate real in-company practice, working with other delegates drawn from a wide background of disciplines in the industry. The course commences with the progress of a trade, from verbal agreement between two traders, through the subsequent preparation of the contract, operation of the contract with chartering and nominations of the tanker, invoicing and presentation of documents, culminating in post contractual settlement of claims arising from the contract operation. Each area is subsequently discussed in detail with further presentations which also include topics such the quality and specifications of actively traded product groups; viz. gasoline and naphtha, middle distillates (diesel, gasoil and jet fuel) and residual fuels oils. Blending theory and practice, operation of storage and pipelines are also addressed.
What You Will Learn

Contracts - The legal issues - Structuring the terms of a contract - Contracts and controls Shipping - Understanding of the basics and terminology - Calculation of freight and Worldscale - Chartering process and key charter party terms - Vessel operations and shipping economics - Demurrage Contract Operational Procedures - Nomination procedures - Documents and the Bill of Lading - Letters of credit and the banks Quantity and Quality - Measurement of quantity and quality - Middle distillates, gasoil, diesel and jet kerosene - Naphtha and gasoline - Fuel oil and heavy feedstocks - Blending, theory and practice Logistics - The Loading and discharging process - Pipeline operations - Storage: agreements and operations - Transaction costs - Losses and inspection
Who Should Attend

85
A Disciplined Approach to Asset-Based Trading in Oil Markets (ABT)

27-28 Aug Houston 5-6 Nov London Course Fee: Europe 2900 North America $3605
E! NEWCOURS
This two-day workshop covers psychological and technical aspects to asset-based trading in oil markets and will explore trading strategies under different market conditions in an asset-based framework. The course will introduce several examples of real options and asset Based/Backed Energy Trading Strategies such as cargo arbitrage, storage and blending. The course will review key lessons from successful traders and a summary of findings from behavioral finance studies applied to trading decisions. We will introduce how to develop a disciplined trading approach incorporating fundamental and technical analysis, with emphasis on the main components of a formal trading plan, how to articulate decision drivers, and determining position sizes and quantify and control risk levels. We will also explore some of the main reasons why traders blow up, with examples from oil markets. We will introduce a real options approach applied to valuation, hedging and optimization of trading decisions in an asset-based context. A simulated trading game over the 2 day workshop will allow delegates to put in practice some of the principles presented in the workshop.
What You Will Learn

A Disciplined Approach to Asset Based Trading - Oil trading spectrum and main players - The role of prediction in markets - A game plan for uncertain markets o Edge o Process o Time - Case study: A tale of two traders The Psychology of Trading: Behavioral biases and ways to correct them - Theories of market behavior - What makes a good trader? - Cardinal sins of trading: - Behavioral Biases - Exercise: Identifying and correcting biases Trading Simulation: Session I Trading Methods and Market Types - Evolution of Oil Markets - Predictive Methods o Fundamental Analysis o Technical Analysis o Quantitative Models - Backtesting trading strategies Trading Simulation: Session II Trading Strategy and Discipline - Elements of a Trading Strategy - Hedging in illiquid markets - Risk measurement for asset-based strategies - Scenario Analysis and Stress Tests - Why do Traders Blow Up? Trading Simulation: Session III Asset Based/Backed Oil Trading Strategies and Real Options: - Asset-based trading - Contractual vs. Real Options - Optimization and monetization - Case study: Cargo arbitrage - Case Study: Storage - Case Study: Blending Incorporating Uncertainty in Asset-Based Strategies - Monte Carlo Simulation: Spot and Forward Prices - Static and Dynamic Hedging Strategies - Identifying the value of real options Trading Simulation: Session IV
86
LPG- Supply, Economics, Markets and International Trading (LP1)

17-21 Sep London Course Fee: 3195 LPG - the by-product multifarious fuel and feedstock. This course provides an intensive, wide-ranging knowledge based decision support workshop for business professionals operating in the world of LPG. The course is heavily case study oriented with opportunities to work on value chains through alternative business strategies and disposal options, assessing market values, shipping economics and a trading game. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Production and Consumption Fundamentals, Pricing - Sources and production of LPG internationally; demand by region/ country and end use sector; new regional production, - Downstream markets - Pricing influences, competing fuels The LPG: Value Chain - Characteristics, extracting value, - Inbound and outbound logistics - Procurement - Infrastructure LPG in Petrochemicals Around the World - Demand for LPG as a petrochemicals feedstock, the impact of the chemicals sector on pricing, pricing versus other feedstocks - Price Assessments - The approach to determining daily quoted prices - Problems and issues International Trade and Shipping - International trade developments - Shipping supply and demand - The structure of the shipping sector, who does what; - Rate determinants - Commercial contract decisions and economics Commodity Sale and Purchase Contracts - Incorporated and express terms - Practical suggestions - Contracts in a typical trade - LPG Trading in Practice - Trading strategies and tactics - Using posted prices and indices - Selling and buying in varying market circumstances Price Risk Management Paper Instruments - Futures, forwards, swaps and options - Hedgers and speculators - Brokers and exchanges
Who Should Attend

Delegates encouraged to attend include commercial, operations and marketing staff, planners, economists and government officials. The course is of particular value to managers or potential managers, new entrants to the business, or those transferring from other energy sectors. Fees do not include VAT, GST or any other required local taxes where applicable.
87
International LPG Trading and Pricing - Supply, Shipping Contracts and Risk Management (LP2)
29 Oct- 1 Nov Oxford Course Fee: 2575 Fee + Accommodation: 3135 This course provides a thorough understanding of the international supply and economic factors affecting LPG marketing and trading. The course will analyze workshop style, the international production and consumption outlook, pricing fundamentals, logistical needs and the available tools for price risk management. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Worldwide Business and Supply Sources - Regional trends and key international markets - Global LPG supply/demand balances and project developments Understanding the Market - LPG distributor businesses: for domestic, commercial and transport - Large volume outlets: refinery alkylation, gasoline components and petrochemicals; pricing, economics and competitive options - Size of international trade and trade flow patterns Terminals and Storage - Seaboard facilities in operation - Use, regional deficiencies, world trade effect and implications; economics - Pipeline Distribution of LPG - The North American NGL market, terminals and pipeline system - Other LPG pipelines Shipping - Ship owners, ship types, and balances - Fleet development, flexibility, economics The Trading Business - Major players - Buyer/seller strategies - Factors affecting trade Creative International Trading - Physical, forward and futures markets - Deal types and techniques - Negotiating and decision making LPG Pricing in World Markets - Key locations, formulae, rationale and durability - Netback analysis and arbitrage Price Risk Management - Pricing and payment instruments; options and hedging strategies; finance and credit
Who Should Attend

This specialized course is for executives involved, directly or indirectly, with LPG supply, operations, shipping and international trading. Also, managers wanting a structured LPG business management training programme linking The Oxford Princeton Programme courses are encouraged to attend.
88
LPG Trading and Pricing - Shipping, Contracts and Price Risk Management (LP0)
9-11 Jul Singapore Course Fee: US$4350 The course is designed to provide a firm understanding of the international LPG business - influencing factors, how it is conducted and how risks are managed. The course will examine the effect of new supply sources and pricing structures on international trade, emerging downstream markets and on the uses of LPG. The course will analyze workshop style business planning, trading methods in LPG in conjunction with contractual practices, pricing, shipping techniques and chartering. Additionally, the course will examine the fundamentals of LPG in terms of its production, properties and specifications. There are no pre-requisites for this course, nor is any advanced preparation required. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Analysis of the world LPG business The effect of new supply sources and pricing structures on international trade, emerging downstream markets and the uses of LPG Trading methods, contractual practices, shipping techniques and chartering The fundamentals of LPG production, properties, pricing and the assessment of price risk
Who Should Attend

Delegates encouraged to attend include commercial, operations and marketing staff, planners, economists and government officials. In addition, executives involved directly or indirectly with LPG supply, shipping and international trading are also urged to attend. The course is of particular value to managers or potential managers, new entrants to the business, or those transferring from other energy sectors.
89

Please contact us for dates and fees. This one-day workshop provides an overview of primary global emissions, key emission trading activities and initiatives, and how emission-trading programmes serve to facilitate environmentally acceptable and cost effective solutions for clean air. Attendees will be actively involved through team participation in an exciting emission-trading simulation.
What You Will Learn

Key emission problem areas - Acid rain: sulfur dioxide, nitrogen oxides - Ground level ozone/smog: nitrogen oxides, volatile organic compounds - Greenhouse gases: carbon dioxide, nitrogen oxides, methane and others Forms of emission reduction implementation Cap and trade systems U.S. programs - Clean Air Act Acid Rain Program, Ozone Transport Commission, SIP Call, Clean Air Interstate and Mercury Rules Framework for an emission trading program Market structures and participants Emission-allowance pricing The Kyoto Accord and the European Emissions Trading Scheme (ETS) CDM and JI greenhouse gas-reduction programs Other national and state programs
Who Should Attend

This introductory course is perfect for new or newly assigned management and staff of trading and operations, risk management, accounting and credit/finance. Due to the broad treatment of this important topic, it is also excellent for the management and staff of marketing, computer services (IT), manufacturing (operations/engineers), legal and tax groups. The subject matter of this course impacts all of us, from both a personal and corporate standpoint.
90
Retail Marketing - Maximising Outlets and Networks (RM0)

7-9 May Accra Course Fee: 2370 The management of retail oil businesses in todays oil industry is much more than selling fuels and lubes. Globally, forecourt customers are becoming more discerning and require a wider range of goods and services. Understanding customer needs and wants and how to mange them professionally requires special skills. The industry also has to cope with increasing competition, some from new to industry players, which often puts margins under significant pressure. If all that werent enough, there are new issues arising from global environmental matters, especially the introduction of alternative road transportation fuels, and the effects that they will have on retailing in the oil industry. All of this and more is dealt with by this comprehensive course / interactive workshop, where delegates will be able to explore the current and prospective business circumstances and problems that most affect the retail oil industry. They can discuss and learn how to identify and manage business objectives and resources professionally, and how to succeed where others will fail.
What You Will Learn

How to identify the critical success factors for a retail oil industry business and how professionally manage them and all key elements of the business. Essential understandings and best practice applications of network planning, network management, site management and brand management; how to optimize retail networks, brands, property and on-site facilities. How to understand the needs of both established and emerging markets - existing situations and prospective new ventures as well as approaches to deregulation and the management of synergistic businesses. How to identify and analyse competitors, trends and opportunities and how to apply best retailing practices and give appropriate focus to customers. How to appreciate and apply the essential business principles to help review and create successful investment, marketing and sales strategies and operating policies. The principle elements of target setting and business performance management.
Who Should Attend

Those who decide, influence, manage or implement policies affecting sales and marketing, brand matters, or investment in retail networks, or anyone who aspires to do so. It will be of most benefit to oil company senior or middle managers, and those who advise or deal with brand management, and business performance management, and property & asset management. It will also be of value to graduate entrants to the industry who require a basic understanding of the essential business disciplines and critical success factors for success.
This course has been an eye opener for me on retail trends around the globe. It has also equipped me with important information/knowledge on retail.
F.M., Gulf Energy
91
Network Planning and Asset Management for Professional Retailers (RMNP)

10-11 May Accra Course Fee: 1600 Professional retailers in any sector of industry must ensure that their approach to the market is not only based on satisfying customers, crucial though that is, they must also ensure that they always make use of finite resources - especially the crucial assets of capital funds and property portfolios. Network planning is a key to this, but what must follow is also essential - professional asset management. This two day event focuses on these and associated issues to help ensure that those involved in the retail oil industry are guided in their investment decisions by professional objective management principles that secure the best use, and maintenance, of their resources.
What You Will Learn

How to gather, compile and maintain data that ensures its best use for the compilation of an objective retail network plan. How a retail network plan is best assembled and its implementation managed. What is meant by asset management - and why it is so essential in the retail oil business. How do we compare with 'best in class' retailers in other sectors? The funding of retail business projects is not easy, especially when capital is finite. We learn from others as to how we can do better in securing investment funds. The best ways to make submissions for funds - and what forms of documentation should we apply to become more successful with our investment proposals?
Who Should Attend

All of those who decide or help consideration of policies affecting, investments in retail service station networks and their continued optimization and management. Thinkers as well as 'doers' should be involved - that is to say policy makers as well as those responsible for implementation. It will satisfy the needs of both office and field based staff. Property managers as well as planners, investment controllers, financiers, field sales managers and all other disciplines responsible for the professional management of a retail site network, maximizing its efficiency and profitability. It will also be of value to graduate entrants to the industry who require a basic understanding of the essential business disciplines and critical success factors for success.
The instructor was very good & resourceful. The course is a plus for every Retail Manager worthy of his/her self and planning to re-evaluate his/her retail department. J.W., Gulf Energy
92
Blending and Product Quality (TRB)

This course is designed to provide delegates with an understanding of petroleum product blending. Through a combination of presentations and case studies, delegates will learn the principles of product blending, applying both linear and non linear blending techniques. Delegates will learn to assess the commercial aspects of blending, valuing feedstock and appreciating the operational costs involved in blending operations. Delegates will learn the significance and determination of product quality specifications.
What You Will Learn

Principles of linear & non linear blending Commonly used non linear blending algorithms Blending practice, logistics and costs Use of blending additives Feedstock valuation Finished product specifications, their significance and test methods Accuracy of test methods, repeatability and reproducibility The role of the independent inspector
Who Should Attend

Personnel within the refining sector who have direct involvement in the technical, operational and economic aspects of the refinery operation (e.g. planners, and blenders) Personnel within the supply trading sector who have a direct involvement in refinery operations Personnel within trading companies actively involved in product blending operations
93
The Emerging Ethanol Energy Markets: A Comprehensive Overview (ETNL)

Please contact us for dates and fees. As biofuels continue to have a larger impact on todays fuel supply, this one-day workshop explores the role that bio-fuels, and particularly ethanol, play in the energy marketplace. This course examines the industry at all points throughout the supply chain, allowing course participants to better understand how bio-fuels are created, marketed, distributed and utilized within the fuel supply. Additionally, this workshop explains the importance that government regulation has played, and will play, in defining this industry. Often, the companies that are required to utilize bio-fuels are limited in their experience dealing with the intricacies of the biofuels market, as it differs from refined products. This workshop will bridge the gap between farmer and oilman, allowing the participant to better understand these unique and evolving commodities.
What You Will Learn

Historical and contemporary overview of the bio-fuels market Ethanol supply and demand analysis and discussion Government Involvement Incentives Logistics And Distribution Ethanol Production Next Generation technology, with an emphasis on the interaction to RFS 2 Key Contract Terms and Examples Basic Risk Management Techniques Bio-Diesel in the U.S. The Basics Trading Simulation - Delegates will be placed in teams for the simulation exercises
Who Should Attend

All energy professionals involved in the purchase, distribution and pricing of refined products including executives, middle managers, analysts and traders. This course will also be useful to bio-fuels marketing and manufacturing firms seeking to understand the complete supply chain and the impact of bio-fuels on end users. Executives, analysts, logistics personnel and sales representatives will benefit by gaining insight into their customers perspective and expectations, allowing them to better meet there needs.
94
Introduction to Renewable Energy: Resources, Technology and Commercial Opportunity (REN)

10-13 Sep Oxford Course Fee: 2575 Fee + Accommodation: 2995
E! NEWCOURS
This four-day course is designed to introduce participants to renewable energy and its role in the worlds energy complex. Renewable sources of consumed energy are identified and outputs compared to conventional sources. The course continues with examinations of the technologies, applications, current limitations, and future possibilities of renewable energy sources. Participants will gain perspectives and insights into the opportunities and challenges presented by renewable energy sources. To augment lecture materials, each day will include discussion topics generally focused on renewable energy realities in various countries as well as morning and afternoon delegate exercises.
What You Will Learn

Renewable Energy - Conventional and renewable energy consumption and comparisons - Renewable energy types Solar Energy - Photovoltaic cell - Concentrating solar power Hydrogen Wind Energy - Technology - Geographic suitability Geothermal Energy Biomass Biofuels Biopower Hydropower Hydroelectricity Cleaner coal Carbon capture and sequestration
Who Should Attend

Energy industry personnel and other professionals, including analysts, bankers, and lawyers, seeking to obtain a solid understanding of renewable energy and the broader energy complex would benefit from this course. Community planners, policy makers, and energy industry investors will find the course valuable.
95
A Biofuels Overview (BF0)

Please contact us for dates and fees. This course provides an introduction to biofuels. Presentations include new process technologies and feedstocks, specifications, performance, environmental aspects plus so-called second generation biofuels. These aspects and advances in engine technology have combined to present a range of potential problems in storage, handling and use. These difficulties need to be understood if the potential of this developing market is to be fully realized. Current and future challenges faced by the motor manufacturers, oil and additive industries will also be addressed. Throughout the two days emphasis will be placed on both the practicalities of biofuels and their real contribution to mitigating global warming.
What You Will Learn

The biofuels dilemma - a look at the conflicts surrounding biofuels Biofuel basics and manufacture - a (non-chemists) guide to the fundamentals Fuel combustion and related fuel characteristics - how the internal combustion engine burns its fuel and contrasts between conventional fuels and biofuels Understanding fuel specifications - how fuel specifications have evolved. The links between fuel properties and performance. Engine developments - a key issue for the biofuels market. As engine technology develops further, the demands on fuel quality intensify - can biofuels keep up? Biofuels specifications - the second day will largely be taken up with biofuels specifics. How do the latest feedstocks stack up in a number of critical areas? Advanced biofuels manufacture - to conclude, the course takes a look at second (third and fourth...) generation technologies. These hold the promise of being more cost effective and carbon neutral.
Who Should Attend

Oil and biofuel industry, additive and motor industry management. Staff involved with the quality, supply, refining, technical service and marketing of automotive fuels and concerned with the effective use of additives to maintain or improve quality. Motor industry technical management, policy makers, legislators.
Course instructor was

knowledgeable and interesting.

K.W., Infineum
96
Gasoline and Diesel Fuel Technology (GDT1)

14-16 May Oxford Course Fee: 2170 Fee + Accommodation: 2590 This course provides an introduction to gasoline and diesel fuel technology. Its teachings include refining, blending, specifications, performance, environmental aspects and the use of additives. Current and future challenges faced by the motor manufacturers, oil and additive industries will also be addressed.
What You Will Learn

Fundamentals Automotive Emissions - Basic fuel chemistry - Gaseous and particulate emissions - Normal and abnormal combustion - Environmental and health concerns Manufacture - Emissions measurement techniques - Refinery processes - Fuel properties and their - Blend component characteristics influence on emissions - Major quality constraints Motor Industry Viewpoint - Manufacturing options - Global emissions legislation and Specifications fuel economy trends - Typical specification criteria and - Developments in engine and exhaust specification trends after-treatment technologies - Importance in manufacture and blending - Implications for automotive fuel - Green fuels quality - Test methods and equipment Additives Fuel Properties and Vehicle Performance - Multi-functional additive packages - Basic relationships between fuel - Refinery additives characteristics and vehicle performance - Additives for marketing and - Meeting octane and cetane requirements environmental purposes - Volatility and its influence on vehicle driveability and emissions - Fuel composition and density - Influence of biofuels - Fuel sulphur content - Hot and cold weather performance - Stability
Who Should Attend

Petroleum, additive and motor industry management, staff involved with the quality, supply, refining, technical service and marketing of automotive fuels concerned with the effective use of additives to maintain or improve quality, motor industry technical staff and environmental government advisors all should attend.
97
Advanced Gasoline and Diesel Fuel Technology (GDT2)

Please contact us for dates and fees. This three-day course discusses the future fuelling options for the current road transport market. Environmental considerations, including air quality concerns open the proceedings. Products types discussed will include conventional fuels, plus bio based alcohols, ethers, bio vegetable oils and their derivatives. Their qualities, specifications, blending performance and suitability will be described. Supply and demand considerations will be covered. Basic engineering demands of the gasoline and diesel powertrains and the quality needs of future fuels will be highlighted. New technologies for conventional powertrains and after-treatment systems will also receive attention. Other future fuelling scenarios including electric, solar, hybrid and hydrogen powered vehicles will be discussed.
What You Will Learn

The change in emphasis from simply controlling vehicle emissions to improving air quality Retrospective of the fuel changes that have already taken place or are proposed The political nature of fuel specifications Fuel characteristics and their influence on emissions Biofuels - curse or cure? The challenge of new engine and after-treatment technologies Alternative powertrains
Please note: Advanced Gasoline and Diesel Fuel Technology is the natural follow-up to the Gasoline and Diesel Fuel Technology (GDT1) course, which introduces the fundamentals of gasoline and diesel fuel technology. This course looks in greater depth at the issues outlined above.
Who Should Attend

Oil and biofuel industry personnel, additive and motor industry management. Staff involved with the quality, supply, refining, technical service and marketing of automotive fuels and concerned with the effective use of additives to maintain or improve quality. Motor industry technical staff. Policy makers, legislators.
98
Aviation Fuels: Supply, Trading and Risk Management (AV1)

18-20 Sep Oxford Course Fee: 2060 Fee + Accommodation: 2480 This three-day workshop provides an overview of the economics in the aviation fuels market. The course covers the key building blocks of knowledge for anyone needing to understand the jet fuel and aviation gasoline markets. Topics explored include the basics of aviation fuel production and refining processes, aviation fuels quality and specifications, supply and logistics, market fundamentals of supply and demand, jet fuel trading, pricing mechanisms, contracts and the management of price risk. Delegates will get the chance to participate in industry case studies and trading/pricing simulations.
What You Will Learn

Supply - Key refining processes used to produce aviation fuels - Quality standards, including key international specifications - Blending and the use of additives - Possible future sources of fuel including the development of synthetic jet fuel - Refining economics and trends Demand - Demand characteristics: volumes and geographic distribution - Growth rates and future market trends: overview of developments for new engines and aircraft; passenger and cargo traffic growth; airline competition Distribution and logistics - Distribution from refineries to terminals and airports - Marine, pipeline, road and rail infrastructure - Inventories and the use of storage - Airport fuel system operations - Supply chain optimization - Aviation fuel trading and marketing - Trading patterns and trade flows - Factors driving aviation fuel prices - Pricing mechanisms and price sources - Contracts, including types of contract and key terminology - Negotiations and tendering processes - Competition and fuel purchasing patterns - Trade market participants Price exposure and risk management - Impact of price volatility on fuel costs - Types of risk, including price and basis risk - Exposure and risk measurement - Tools for hedging: futures, forwards, swaps and options
Who Should Attend

Anyone who needs to know more about the aviation fuels marketing including those working in refining, marketing, distribution, trading, operations, risk management, purchasing, credit, finance, contracts and IT within an oil company, airline, airport or aviation authority.
99
Technical and Operational Aspects NEWCOU Involved in the Handling of Aviation Fuel (AF1)
RSE!
The quality control and safety measures which are employed during the transfer of fuel from the point of manufacture to the aircraft are reviewed by considering specifications, additives, recent developments in laboratory methods sources of contamination, quality control, equipment and procedures. The principle of the operation of the jet engine, its environmental impact and how this is being managed is explained as well as the factors which influence the demand and availability of jet fuel. Real life quality issues are used throughout to highlight the importance of delivering fit for purpose fuel to the engine. This course is delivered by a mixture of lectures, case studies, videos and discussion.
What You Will Learn

Why it is so important to maintain the integrity of the fuel from the point of manufacture to delivery to the aircraft The basics of aircraft fuel systems and how a jet engine works How fuel is produced in the refinery The quality procedures required to ensure that fuel is fit for purpose when it reaches the aircraft, including an understanding of electrostatics, filtration and microbiological contamination The differences between the major jet fuel specifications and how the specifications are managed The purpose of additives and problems associated with their use The control and introduction of fuels from non-conventional sources The purpose of the test methods and future options for the specification How the combustion of jet fuel has an impact on different parts of atmosphere in different ways
Who Should Attend

All those concerned with jet fuel in the following applications: refining , marketing and distribution of petroleum Laboratory testing, quality control and specifications, product trading and operations, fuel purchasing for aircraft operators, airport fuel system operations and the provision of associated services manufacture and maintenance of aircraft and engines, aviation fuel research and development.
100
Fundamentals of Oil, Petrochemicals and Gas Shipping (TD1)

11 Jun London Course Fee: 865 This one-day course provides an introduction to shipping terminology, including the main terms and activities that explain what the jargon means, the processes and the roles of who is involved in the shipping world. Its teachings will also include information on legislation, freight contracts and markets and negotiations within the industry.
What You Will Learn

Ship types, characteristics and trades - Ship types - commercial definitions; AFRA types, knots, dwt, GRT, LOA, beam, draft - Ships by trade, products they carry The cast of characters - who does what - Owners, operators, charters, shippers, brokers - Institutions and organizations (e.g. PSC, IMO, Intertanko, SITGO, CDI, SIRE, OCIMF, worldscale, Marpol, Solas, London Tanker Brokers Panel) The voyage from planning to completion - Who gives orders - The sequence of events - Letters of indemnity - Bills of lading - The negotiation Types of freight contract - Spot, T/C, COA, CVs, bareboat charters, terms (e.g. TCE, owners/charterers responsibilities) Worldscale, AFRA and the freight markets - How rates are reported Demurrage Inco terms - FOB, CIF, CFR Legislation and its impact - Single hull phaseout - IMO/EU/OPA 90 Contract terms and charter parties - Charter party terms (e.g. law, description of the parties, differences) other issues (e.g. deadfreight) - COA and T/C terms Voyage negotiation
Who Should Attend

This course is designed for non-specialist staff who interact with shipping companies, charters and lawyers and other executives who need to understand the main terminologies. This course will provide you with all the basics to ask the right questions and get the right answers.
101
Tanker Ownership, Chartering and Operations (TD2)

21-25 May Oxford 24-28 Sep Oxford Course Fee: 3250 Fee + Accommodation: 3950 Making sound business decisions concerning tanker ownership, chartering, operations and coverage strategies demands a good understanding of key issues and their potential impact. This basic course covers the crude oil, petroleum products, chemicals and gas transportation sectors. This course also examines the important economic, financial, contractual, environmental and legislative issues when evaluating contract options, chartering and investment strategies, logistics and operating tactics. The emphasis of the course is on sound commercial practice, drawing on the working knowledge and experience of the various industry speakers. Case studies and practical sessions provide delegates with hands-on experience of decision making in this area. There are no pre-requisites for this course, nor is any advanced preparation required. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Key issues facing players in todays energy shipping markets How to use worldscale, calculate freight costs, undertake voyage estimates, and time charter conversions Dynamics of the tanker chartering, sale and purchase markets, how to analyze the trends and assess investment risk, as well as how tankers are financed Characteristics and driving forces that determine developments in the specialist gas and chemical carrier markets Factors determining oil company transportation coverage strategies and tanker owners chartering policies Important insights into how technical factors and the increasingly stringent rules governing vessel operations, safety and pollution prevention impact commercial decisions The essential elements of a voyage charter party and the differences in owners and charterers obligations under different forms of charter The process of tanker chartering and the role of the broker How the bunker fuel markets work and how bunkering strategies can be developed How to identify important insights in the commercial and technical management of a tanker fleet The experience of working with a group of energy and shipping industry executives, having a range of experiences, from a variety of organizations around the world
Who Should Attend

The supply, trading and risk management departments in oil, gas and petrochemical companies; the commercial and operations departments in the shipping affiliates or divisions of oil companies; the commercial and operations departments of ship owning companies; the planning and financial departments of shipping companies and oil company transportation divisions; banks and financial institutions involved in oil tanker, gas and chemical carrier finance, accountants, legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector. Fees do not include VAT, GST or any other required local taxes where applicable.
102
Tanker Ownership, Chartering and Operations (TD2E)

18-20 Apr Singapore Course Fee: US$4350 Making sound business decisions concerning tanker ownership, chartering, operations and coverage strategies demands a good understanding of key issues and their potential impact. This basic course covers the crude oil, petroleum products, chemicals and gas transportation sectors. This course also examines the important economic, financial, contractual, environmental and legislative issues when evaluating contract options, chartering and investment strategies, logistics and operating tactics. The emphasis of the course is on sound commercial practice, drawing on the working knowledge and experience of the various industry speakers. Case studies and practical sessions provide delegates with hands-on experience of decision making in this area. There are no pre-requisites for this course, nor is any advanced preparation required. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

To understand key issues facing players in todays energy shipping markets To use worldscale, calculate freight costs, undertake voyage estimate, and time charter conversions To understand the dynamics of the tanker chartering, sale and purchase markets, how to analyze the trends and assess investment risk, as well as how tankers are financed The characteristics and driving forces that determine developments in the specialist gas and chemicals carrier markets Factors determining oil company transportation coverage strategies and tanker owners chartering policies
To appreciate the important insights into how technical factors and the increasingly stringent rules governing vessel operations, safety and pollution prevention impact commercial decisions The essential elements of a voyage charter party and the differences in owners and charters obligations under different forms of charter The process of tanker chartering and the role of the broker How the bunker fuel markets work and how bunkering strategies can be developed To identify important insights in the commercial and technical management of a tanker fleet The experience of working with a group of energy and shipping industry executives, having a range of experiences, from a variety of organizations around the world
Who Should Attend

The supply, trading and risk management departments in oil, gas and petrochemical companies, the commercial and operations departments in the shipping affiliates or divisions of oil companies, the commercial and operations departments of ship owning companies, the planning and financial departments of shipping companies and oil company transportation divisions, banks and financial institutions involved in oil tanker, gas and chemical carrier finance, accountants and legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector. Fees do not include VAT, GST or any other required local taxes where applicable.
103
The Chemicals Shipping Market Chartering and Operations (TD3)

Please contact us for dates and fees. The Asian region is the fastest growing area for chemical production and trade. Shipping is a vital part of the supply chain in the chemical sector and as such is a key element in the profitability, marketing and safe transportation of the commodities involved. The course combines lectures from senior professionals and carefully structured exercises, case studies and workshops. This 3 day course is designed to enhance the business knowledge of commercial, operational and financial personnel from ship-owning and operating companies, chemical producers and traders, banks and financial institutions. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

The chemical tanker market Chemical transportation economics IMO regulations, cargoes and ships - the latest developments Managing operational risk and chemical-carrier vetting Psychology and techniques of successful negotiation The advantages and disadvantages of various contract options Business coverage and competition strategies Key charter party clauses - commercial aspects Chemical tanker demurrage Syndicate work
Who Should Attend

Commercial, operational and financial personnel from ship-owning and operating companies. Chemicals producers, chemical trading and distribution companies. Personnel from banks and financial institutions involved in chemical shipping, accountants and legal firms dealing with chemicals transportation issues and management new to the transportation sector.
Good exposure and

learned a lot!
M.V., Petronas
104
Tanker Ownership and Chartering - Advanced Strategies and Risk Management (TD4)
23-25 Apr Singapore Course Fee: US$4350 Building on the knowledge gained in Tanker Ownership, Chartering and Operations (TD2), this three-day course offers delegates a more in-depth exploration of contracts and pricing issues surrounding the tanker industry. The course focuses on the implementation of tactics and practical strategies for enhancing commercial returns and business performance in tanker transportation - both from charterers and owners perspectives. It looks at how commercial risks may be hedged using freight futures or by entering into period charter agreements. Negotiating techniques and the key elements of contracts of affreightment are examined and discussed. A legal workshop provides a series of case studies designed to highlight some of the more common events impacting on commercial operations. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Understanding of the key issues facing players in todays oil tanker markets and how companies are responding Risk management through the futures and period charter markets Successful contract negotiating Strategies for improving operating returns Some key decisions from cases in maritime law
Who Should Attend

Delegates encouraged to attend include the supply, trading and risk management departments in oil companies as well as the commercial and operations departments in the shipping affiliates or divisions of oil companies. Also, the commercial and operations departments of ship owning companies and the planning and financial departments of shipping companies and oil company transportation divisions are urged to attend. Additionally, banks and financial institutions involved in oil tanker finance, accountants and legal firms dealing with energy transportation issues, oil trading and distribution companies and management new to the transportation sector will find the programme valuable.
The practical sessions were great to fix all we learned from the presentations. The information exchanged and experiences shared were very helpful.
E.P.B., Nigeria LNG Ltd
105
A Practical Understanding of Commercial Risks in Laytime and Demurrage (TDL)

12-13 Jun London Course Fee: 1960 In theory, the determination of laytime and demurrage, if incurred, is a straightforward process as all of the relevant terms and clauses are contained in the charter party. However, as anyone who has examined a charter party will be only too well aware the wording is often less than clear and consequently the meaning is obscure. In short, lack of clarity over what does and does not count as used laytime can lead to contentious issues between parties. One of two things then happens. Either, a claim is made which potentially can require substantial resources to pursue, both in terms of time and money. Alternatively, potential claims are left to accumulate, unattended and considerable sums of money go begging. The aim is to provide practical understanding and instruction in the complexities of laytime and demurrage and in so doing, de-mystify them. Emphasis is placed on how to avoid potential problems from the outset, how to limit risk and exposure and ultimately save money through the efficient handling of claims and avoidance of costly legal proceedings. The course highlights differences between major charter parties and the problems encountered between shipping and oil sales contracts.
What You Will Learn

A clear understanding of all of the contractual terms and clauses relating to laytime and demurrage How the same issues may be handled differently between the main charter parties (for example, ASBATankvoy, Shellvoy, BPvoy) How to calculate used laytime and demurrage incurred Common problems and practical solutions Compatibility between tanker charter parties and oil sales/supply contracts Some key decisions from cases in maritime law
Who Should Attend

Delegates encouraged to attend include executives from oil, gas, chemicals and shipping companies handling demurrage claims, commercial operations people, traders, and charterers.
Good course
I can use the knowledge.

A.F., O.W. Tankers
106
The Tanker Market - Managing the Downturn, Anticipating the Upturn (TDS)
Please contact us for dates and fees. It would be all too easy to write off the current downturn in the tanker or shipping markets as a repeat of past cycles in the sector. However, just as the sleek machines of Olympic Velodromes bear little resemblance to the gearless boneshakers of the past, todays markets comprise different components as well. Experience is therefore key, combined with modern, practical approaches to achieve commercial, financial and operational solutions. This one day seminar brings together a range of expert speakers from the worlds of finance, maritime law, ship management and commercial to examine contracts, cost management, loan availability, commercial organization and project work outs. It is designed to ensure maximum interaction between presenters and delegates with both break out panel discussions and dialogue during individual sessions.
What You Will Learn

Developments in the energy chain and downstream - Gas, tankers and chemicals markets - What's different this time round - Planning in Uncertain Markets Loan Availability - Sources of Finance, Equity Funds, Who is Still Lending Renegotiating Contracts and Contract Cancellation - Possible - but at what cost? - Shipyard Flexibility - Panel Discussion Charter Re-negotiation - A Practical Solution for both Parties? - What is Achievable - Commercial Re-Organization: Pooling - The importance of philosophy, matching contract terms - Revenue distribution Cost Management - Maintaining standards - Minimizing Costs - The Lay-Up Option - Project Work Outs and Trading in the 'After Life' - Client Relationships - Corporate Structures - Organizing Finance and Project Management - Panel Discussion
Who Should Attend

Anyone from the world of tanker, gas and chemicals shipping could be interested in this course. In particular, lenders, ship owners from financial, operational and commercial backgrounds, maritime lawyers and ship managers.
107
Residual and Bunker Fuel Oil: Understanding the Supply Chain, Price Drivers and Technical Aspects (MFM1)
Please contact us for dates and fees. This course is designed to provide delegates with a comprehensive understanding of the production and the drivers of price and quality of fuel oil. Using this knowledge, the course then investigates the day-to-day aspects of the fuel and bunker markets and describes the supply chain and factors that influence it. In addition the course examines concerns of participants in the structural changes and the economic effects of such changes. Candidates will gain an understanding of why fuel prices and quality vary, and the effects of such volatility and how it can be mitigated. On completion of the course all participants will have a thorough understanding of the day-to-day mechanics of the fuel market and in addition an understanding of the factors influencing the global market.
What You Will Learn

Supply - Crude oil: properties and assays - OPEC and non-OPEC - Refining: capacity and fuel production - Fuel manufacture Demand - Sectorial fuel use - Regional fuel use - Future trends - S&D forum Price Drivers - Fuel oil trading including hedging, storage, arbitrage, blending and spreads - The market participants - Physical trading - Derivative trading - Fuel oil from producer to consumer - Price drivers - How to avoid /mitigate some of the effects - Price Forum Price - Fuel and the refinery economics - Specifications - Characteristics affecting price - Pricing methodology - Price variations - Fuel cracks Structural Changes - Refinery upgrading - Demand shifts - Bunker spec changes - Demand balances - Emission trading - Future refinery operations - Future pricing - Buyers strategy
Who Should Attend

Those wishing to learn the basics of fuel oil trading or understand the interaction between fuel oil and the bunker industry will find this course ideal. In addition, the course should be considered essential for anyone entering or recently new to the bunker industry in terms of buying, selling, trading, broking or the service industry. Institutions currently involved in financial aspects of bunker and fuel oil activities would also benefit from the comprehensive coverage of this course. Fees do not include VAT, GST or any other required local taxes where applicable.
108
Understanding the International Petrochemicals Business - Technology, Markets and Economics (CH0)
16-18 Apr Oxford 11-13 Jul Singapore Course Fee: Europe 2270 Fee + Accommodation: Europe 2690 Asia US$4350 The organic chemical industry centers on the relationships between raw materials, intermediates, end products and applications. Basic to these relationships are chemical reactions, and fundamental to the total business is economics. To be able to work successfully within this complex industry requires a combination of practical experience with an understanding of chemistry, markets and economics. The course offers an organized overview of the industry that is essential for the successful operations within it. There are no pre-requisites for this course, nor is any advanced preparation required.
What You Will Learn

Insight into the broad picture Understanding of the concepts that the industry has evolved Understanding of the economics of the industry The refining-petrochemical interface and the origin of the industrys seven basic raw materials Understanding of the value chains that flow from the seven basic raw materials Who the major players are and their role in the massive restructuring the industry is undergoing
Who Should Attend

Class delegates include chemists, engineers, commercial, sales and purchasing staff. Also, research and development, marketing and planning personnel, chemical industry administrators who wish to increase their knowledge and experience of the chemical reactions, feedstock, markets, key players, and basic economics of the industry. Additionally, associated services including finance and banking staff, legal, government agencies, on-line services will benefit.
A
great professor who really enjoys teaching and sharing all of his experience to introduce
new comers like myself to the industry.
E.O BASF
109
Petrochemical Markets and Economics The Impact of Feedstocks and Costs on Competitiveness and Business Strategy (CH1)
22-26 Oct Oxford Course Fee: 3250 Fee + Accommodation: 3950 This five-day course is an introduction to the petrochemical industry. It covers the main product families, how they are linked, key aspects of processes and their underlying economics that feed the markets and drive the industry. The unifying theme of the course is competitiveness - the feedstock relationships, cost structures, profitability and pricing. This extends to international trade and selected environmental issues. There are case studies to enable attendees to explore the application of the material. This course is not aimed at existing experts. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Industry structure and feedstock linkages, key relationships and global structure and industry change Petrochemical economics, commercial aspects and cost structure of the main product families - profitability and pricing of petrochemicals Polymers - trends in production and markets, polymer usage, inter-polymer competition Gas based chemicals - cost and price competitiveness ammonia, methanol, natural gas pricing issues and chlorine and caustic business How to make and apply projections of profitability and demand
Who Should Attend

Delegates encouraged to attend include managers, planners and commercial marketing/supply personnel from both established petrochemical producers and new entrants. In addition, trading and marketing staff dealing in petrochemicals or feedstocks and people who interface with petrochemicals from related sectors such as refining and user industries are urged to attend. Also, individuals from outside agencies such as the media, banks, accounting firms or engineering companies will find the course of value.
Excellent course,
well presented.
J.M. Sasol Polymers
110
Petrochemical Markets and Economics The Impact of Feedstocks and Costs on Competitiveness and Business Strategy (CH1O)
Please contact us for dates and fees. This three-day course provides a fundamental understanding of petrochemical economics and the feedstock/price inter-relationships affecting market competitiveness. It will analyze the fundamentals of competitiveness in producing base chemicals and how these will affect business decisions, process and feedstock selection. Participants will analyze production and supply costs which will highlight the price determining mechanisms and opportunities for profits in the industry. The course is not aimed at existing experts but instead, serves as an introduction to more specialized courses. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

Industry structure and feedstock linkages - Petrochemicals related to refining, gasoline and fuels, upstream and downstream feedstock linkages Petrochemical economics - Costing - cash and full costs, variable and marginal costs, cost curves and competitor cost structure, pricing, price setting mechanisms, price monitoring Feedstocks - an analysis - Petrochemical feedstocks for cracking, reforming and intermediates production, the oil refinery and refining/petrochemicals interface Technology and economics of olefins and aromatics - Process descriptions and flow descriptions, methodology of cost of production analyzes and sensitivities, steam cracker economics, effect of different feedstocks on yields, aromatics economics Commodity polymer trends - Trends in production and markets, polymer usage, LDPE, LLDPE, HDPE, PP, PS, PVC, interpolymer competition and price equilibrium, motivation for polymer trade and impact on established producing areas
Who Should Attend

This course is for managers, planners and commercial marketing/supply personnel, from both established petrochemical producers and new entrants. Additionally, bankers and others who offer services from feedstock suppliers will benefit.
Excellent course, well presented.

J.M., Sasol Polymers
111
E! NEWCOURS
Overview of Petrochemical Processes, Catalysts and Markets (PPCM)
18-20 Sep Singapore 10-12 Oct Oxford Course Fee: Europe 2170 Fee + Accommodation: Europe 2590 Asia US$4350 This course begins with an overview and will progress to a detailed examination of the key elements involved in petrochemical production and catalysis. Aspects of safety, enviornmental impact and future industry direction and developments will also be explored.
What You Will Learn

Upon completion of this course, you should have a better understanding of the petrochemicals markets and the most important and relevant process chemistry that is integral to this industry. The interrelationship of all petrochemicals will be developed in a novel flow chart presentation. In addition, catalysts and the fundamentals of catalysis will be explored. The key petrochemicals from C1 through to polymers will be examined in detail along with major players and catalyst producers.
Who Should Attend

This course is targeted at and suitable for all professionals involved in either commercial or technical aspects of processes and catalysts utilised in the petrochemical indsutry. This course will be invaluable to engineers or industrial chemists working in chemical or integrated petrochemical/refinery complexes/ Additionally, this course will be relevant and useful to personnel wishing to gain an insight into the relationship between petrochemicals, processes and catalysts.
112
The Aromatics Business - Markets and Economics (CH5)

12-14 Nov Oxford Course Fee: 2170 Fee + Accommodation: 2590 This course is designed to cover the technology, economics and markets for aromatics used in the chemical industry. It will explain the relationship of aromatics to the gasoline pool both in terms of availability and value, and discuss the approach to forecasting the prices of aromatics. New developments in the aromatics business will be discussed including environmental legislation affecting aromatics in gasoline, and new routes to aromatic such as Cyclar and Aromax. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

The sources of aromatics The technology of aromatics - Process descriptions and flow schemes; pyrolysis gasoline extraction, reforming and reformate extraction, hydrodealkylation and toluene disproportionation - Benzene from coal - Isomerization and separation of para- and ortho-xylene - Ethylbenzene by distillation from xylenes - Cyclohexane by hydrogenation of benzene The principle outlets and growth trends for aromatics The factors affecting aromatics supply and demand The relationship between aromatics and the gasoline pool How to value aromatics in relation to gasoline - Interaction of aromatics streams with refining - The petrochemical and refinery models for aromatics valuation - Octane value - The relationship of aromatics to gasoline pool values - Cost and market-based octane values Price determining mechanisms for aromatics The trends in current and developing technology - The US Clean Air Act and the impact on aromatics values - Aromax and other routes by light naphtha reforming
Who Should Attend

Delegates encouraged to attend include managers, planners, business development, and commercial and marketing supply personnel from both established petrochemical producers and new entrants in the aromatics business. In addition, marketing and trading staff from the refining and gasoline industry will benefit, as well as logistics or support staffs are urged to attend. The course will also be of practical use to downstream consumers and derivative manufacturers.
113
The Olefins Business - Markets and Economics (CH6)

21-23 May Oxford Course Fee: 2170 Fee + Accommodation: 2590 The course covers the technology, economics and markets for the olefins business. It will explore the economics of different feedstocks and the balance of supply and demand. There will be a full discussion about the importance of integration downstream to derivatives. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

The sources of olefins The principle outlets and growth for trends for olefins The factors affecting olefin supply and demand How to distinguish between the choice of feedstocks for olefin production The economics of olefin production Pricing strategies for olefins Alternative technologies for olefin production
Who Should Attend

Delegates encouraged to attend include managers, planners, business development, commercial and marketing supply personnel from both established petrochemical producers and new entrants to the olefin business. Additionally, marketing and trading staff from the refining industry will benefit, as well as logistics or support staffs are urged to attend. The course will also be of practical use to downstream consumers and derivative manufacturers.
A very complete course

for new entrants in the business.

N.B., Atofina
114
Understanding the Global Lubricants Business Regional Markets, Economic Issues and Profitability (LB1)
29 Oct- 2 Nov Oxford Course Fee: 2680 Fee + Accommodation: 3380 This flagship course for The Oxford Princeton Programmes Lubricants subject stream provides an overview of the worldwide lubricants business, its structure, participants, dynamics, economics and markets. It gives newly appointed managers the industry perspectives required to make strategic business decisions. The course will present and discuss the key issues facing the lubricants industry, on both a global and regional basis.
What You Will Learn

Structure of the global lubricants business Markets for conventional, Group II, Group III and synthetic lubricants Regional variations in lubricant markets Forecasting lubricant demand Lubricant economics and profitability Mineral oil, Group II, Group III and synthetic oil manufacturing and economics Lubricant additive industry structure and role Lubricant additives Automotive lubricants - key issues and trends Classification, specification, testing and approval of automotive lubricants Industrial lubricants - key issues and trends Classification, specification, testing and approval of industrial lubricants Technical service as a marketing aid Marine, railroad and aviation lubricants Environmentally friendly lubricants Health, safety and environmental issues and their marketing impacts Price-performance comparisons of mineral oil and synthetic lubricants
Who Should Attend

Delegates encouraged to attend include experienced oil industry managers who are new to the lubricant business and recently appointed managers who intend to pursue a career in the lubricant industry. Also, marketing, planning and commercial development staff in lubricant companies or the lubricant divisions of larger oil companies, as well as technical and technical service lubricant staff that have recently transferred to a commercial role are urged to attend.
Thank you very much

and hope we shall meet again.

G.L., United Nations Operations- Ivory Coast
115
Lubricants Refining and Manufacturing (LB5)

12-16 Nov Oxford Course Fee: 2680 Fee + Accommodation: 3380 This five-day course presents a full understanding of lubricant base oil manufacturing technologies, processing schemes, operations and economics. The programme will compare and discuss the advantages and disadvantages of different types of base oil manufacturing processes. Lubricant blending methods, lubricant packaging and distribution will also be presented and discussed. Practical guidance will be provided on determining how to maximize unit and plant performance. There will be presentations and discussions on the key issues facing the base oil manufacturing industry today.
What You Will Learn

How a lubricant base oil facility operates Manufacturing techniques used by the more progressive lubricant base oil manufacturers Principles, economics and flexibility of each major base oil processing technology Latest developments and trends in base oil processing technology Advantages and disadvantages of various base oil processing schemes Strategies for optimizing existing base oil facilities Commercial and performance trends for lubricant baseoils Developments and trends in lubricant blending, packaging, storage and distribution Supply/demand balances and trends for base oils and lubricants on a global and regional basis How competitive and environmental pressures are driving the industry
Who Should Attend

Delegates encouraged to attend include refinery business development, commercial and planning managers, technical and operating staff who have recently transferred to a base oil manufacturing role and recently appointed managers who intend to pursue a career in the lubricant base oil industry. In addition, technical and commercial managers in chemical and additive companies that supply components to base oil manufacturers and newcomers to the lubricant base oil industry are urged to attend.
The course offers enormous information on base oil and lubricants industry.
M.A., Emarat
116
Energy Value Chain (EVC)

12-14 Jun Geneva 24-26 Sep London Course Fee: Europe 1790
This three-day workshop provides a comprehensive introduction to the supply value chains and trading of oil, gas, coal and power. The course also covers the basics of the emissions trading market. Topics explored include quality issues, market fundamentals, trading patterns and locations, trading instruments and pricing mechanisms and transportation. Delegates will get a flavor of the trading markets for each commodity through competitive team trading simulations.
What You Will Learn

Oil Value Chain - Physical properties of oil - Key refining processes and main products - Transportation and logistics, including trade flows, global supply constraints and freight pricing - Structure of oil industry and key geopolitical issues - Crude oil trading: crude selection, valuation and pricing; use of benchmarks and instruments traded - Refined products trading: pricing basis, trading strategies and price drivers Coal Value Chain - Physical properties of coal gas - Reserves and production statistics - Fundamentals of coal transportation - Consumption statistics and trends including demand drivers - Growth of coal-to-liquids (CTL) processes - Trade movements - Structure of the coal industry and market participants - Coal trading: trading markets, instruments, price drivers
Natural Gas Value Chain - Physical properties of natural gas - Natural gas processing - Fundamentals of gas transportation: pipeline and LNG - Balancing supply and demand and use of gas storage - Consumption statistics and trends including demand drivers - Gas flows and trade movements - LNG developments: construction of new LNG terminals, growing LNG tanker fleet; outlook for global LNG market - Structure of the gas industry and market participants - European gas liberalization process and progress to date in key world markets. - Gas trading: major trading patterns and hubs, trading instruments and price drivers
Electricity Value Chain - Power market terminology - Fundamentals of electricity generation: production types and trends, including effect of environmental targets and regulations - Transmission issues and trade movements - Balancing supply and demand: load forecasts - Power trading characteristics - Structure of the power industry and market participants - European power market liberalization process - Power trading: trading patterns, power exchanges and balancing markets, trading instruments, and price drivers - Linkages between gas and power markets - Emissions trading
The course is highly interactive and delegates will get the chance to participate in exercises, case studies and physical trading simulations.
Who Should Attend

The course is suitable for anyone who wants to gain a greater understanding of the energy market including new entrants to the industry, as well as existing market participants who want to broaden their market knowledge. It could also appeal to individuals in the service side of the industry (financial, software, consulting etc).
117
Natural Gas and Power Industry
Upstream North America Europe LNG Trading Emissions Contracts Pipelines Sales and Marketing Geopolitics
118
Upstream Oil and Gas Industry The Full E&P Picture (EXP1)
Please contact us for dates and fees. This course addresses the technical aspects of exploration, field development and oil, gas and gas liquid production. It also addresses the detailed economic, risk, fiscal and commercial issues from the perspective of a spectrum of potential corporate participants in large and small international upstream oil and gas projects. The course materials will include videos from E&P projects across the world and exercises to reinforce learning.
What You Will Learn

Where and how oil and gas accumulates in reservoirs in the Earths crust Prospecting and drilling techniques used to find, develop and produce oil and gas What is best practice in the upstream industry About existing and new technologies that facilitate and optimize technical recovery and maximize commercial returns for oil and gas companies How to overcome the technical issue and challenges that confront upstream operators Key upstream performance indicators used to judge finding, development and operating phases of activity Which negotiating and bidding strategies to use in different circumstances Fiscal and contract issues that impact long-term viability of oil and gas field development How risk and cost factors are monitored and managed in typical exploration and production projects The roles and opportunities in the sector for national oil companies (NOCs), major international oil companies (IOCs) and smaller independent companies Analytical approaches to valuation and funding of upstream projects from the perspectives of operators, service contractors, equity investors and lenders
Who Should Attend

As the course addresses technical, commercial, contractual, fiscal, strategy and operations almost all professional disciplines working in the upstream industry would benefit from the material included and broad perspective taken. The presentation of the course is made with a multi-disciplined audience in mind and non-professional support staff would also gain a good overview of the industry from this course.
Great selection of topics and great group activities.

F.K., ExxonMobil
119
Overview of the North American Natural Gas Industry (NANG)

13 Aug Houston 15 Oct Calgary Course Fee: North America $1010 This one-day course is designed to introduce delegates to the functionality of the natural gas industry and those involved within its operation. Discussion includes physical natural gas, beginning with exploration and concluding with the delivery to the burner-tip. This course uses a historical perspective to explain how regulation shaped the current marketplace and will also introduce financial products used for hedging physical positions. Delegates will become familiar with industry nomenclature and operation of the physical natural gas market place. Delegates interact through a trading simulation designed to show how trading has evolved and how different physical and price risks are managed with financial tools. Delegates will create and manage a natural gas position using fixed and floating price instruments.
What You Will Learn

Composition, sources, measurement of natural gas Industry players Transportation of natural gas Bid week FERC orders Basis Fixed vs. float Swaps NYMEX Bid/ask and bid/ask spread Spot, cash, futures, prompt, forward markets Industry publications Differences between a broker and a marketer Swing and base load gas
Some topics covered in this workshop are specific to either the American or Canadian market and will be adjusted as necessary.
Who Should Attend

As this is an introductory course, all facets of an organization are likely to attend. The most likely to attend are: human resources, info systems, credit department, accountants, legal, quantitative analysts, consultants, programmers, trade support staff, secretarial, marketing/sales, risk managers.
A must course
for any oil and gas professional.

B.O., Brass LNG
120
North American Natural Gas Transportation and Storage (NGTS)

14 Aug Houston 16 Oct Calgary Course Fee: North America $1010 This course will provide an understanding of the role of pipelines in the natural gas industry and a broad insight to the dynamics that impact the economic decisions facing industry participants. A Canadian edition of this course runs in Calgary.
What You Will Learn

History - Industry and market development - Regulation Functional Aspects - Participants - Agreements - Tariffs - Operations - Controls - Safety Transactional - Capacity management - Trading hubs - Storage injections and withdrawals - Scheduling and nominations - Balancing Into the Future - New projects - Economic impacts - New customers
Who Should Attend

All facets of an organization are likely to attend including: human resources, info systems, back-office personnel, credit department, accountants, legal, quantitative analysts, consultants, programmers, trade support staff, secretarial, marketing/sales, risk managers. This course is also perfect for anyone involved in the physical movement of gas, rate-making and capacity issues, transportation representatives that are involved in the pipeline end, and schedulers who are involved in the marketing side.
This class was interesting

and covered the basics well.

M.C., Sempra
121
North American Gas and Power Trading and Risk Management (NAGP)
13-15 Feb Calgary 16-18 Oct Houston Course Fee: North America $3915 The principal aim of this course is to expose delegates to a comprehensive training on power and gas trading and risk management in an applied context. The course will enable participants to gain a practical working knowledge of gas and power market structure, main players and common traded instruments. Delegates will gain a practical understanding of the various dimensions of risk in gas and power markets and the various tools to manage and transfer those risks. We will present new approaches to hedge energy exposures with derivatives as well as useful techniques to unbundle gas and power structures in long term contracts and physical assets. Particular emphasis is placed on the use of derivatives as well as physical assets and contracts to manage price, credit, volumetric, and operations risk. This course is highly interactive, and we encourage delegate participation and group discussions. Numerous case studies are presented throughout the course, with particular emphasis on the interpretation and use of trading and risk management concepts introduced in real-life examples. Delegates will make presentations to the group and conduct numerous individual and group exercises. The trading game will provide an opportunity for delegates to use the main hedging instruments as well as take advantage of market views as a response to changes in gas and power market conditions. Delegates will execute their own trading strategy and will calculate and monitor their own P/L, adjust their hedge book, as well as keep positions within limits such as volumetric, stop losses, VaR and Stress tests.
What You Will Learn

Main players and market structure Key prices, drivers, behavior, and volatility Physical contracts and linear instruments Options and OTC structures Mark to market, P/L and position management Market and liquidity risk management Hedging and trading strategy and limits Trading strategy and technical analysis Physical assets and contracts as real options Cross-commodity instruments and real options Advanced option topics Market risk management Volumetric risk Credit and counterparty risk management
Who Should Attend

Energy traders and marketers, Energy analysts, Gas and power utilities staff, Power and fuel purchasing managers, End-users of derivatives in corporations, Market risk managers, Credit risk analysts, Risk consultants, Risk and audit committee members, CFOs and treasury managers, Finance department personnel, Compliance and internal audit, Middle and back-office personnel, Government agencies. Fees do not include VAT, GST or any other required local taxes where applicable.
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European Gas and Power Trading (EGPT)

24-26 Apr Dusseldorf 16-18 Oct London Course Fee: Europe 2060 This three-day, highly interactive, workshop is designed to provide an introductory overview of the way natural gas and electricity are traded within Europe. Delegates will learn the general principles of how gas and power markets work, and how trading is carried out in the various different types of market spot and forward, exchange-based and OTC. They will also get an idea of what a trader's job involves, through competitive team trading simulations and other hands-on exercises that focus on different aspects of trading and risk management. Topics explored include basic trading concepts, fundamentals of gas, power and emissions markets, fundamental and technical market analysis, gas and power trading instruments, trading strategies including arbitrage and the use of gas storage, the mechanics of trading on exchanges, in auctions and through bilateral contracts, and principles of risk measurement, management and hedging.
What You Will Learn

Basic trading concepts - Reasons for gas, power and emissions trading - Players in the physical gas and power markets, and their roles in traded markets Natural gas fundamentals - Introduction to natural gas, its supply chain and end-user markets - Natural gas quality issues Power fundamentals - Introduction to power generation technology - Generation fuels and their characteristics - The nature of end-user power markets Emissions market fundamentals - Overview of European emissions allowances and renewable certificate markets - The need for and purpose of emissions trading Gas and Power trading - Principles of gas and power market design - Interactions between traders and infrastructure operators Market Analysis - Fundamental analysis and price drivers in natural gas markets - Fundamental analysis and price drivers in power markets - Technical analysis in gas and power markets Trading Instruments - Trading instruments and deal types in gas markets - Trading instruments and deal types in power markets - Spark spread trading Trading strategies - Supply trading and optimization - Speculative trading - Arbitrage trading Mechanics of trading - Contracts and master agreements - Bilateral negotiation - Exchange-based trading Characteristics of gas and power markets - Volatility and its causes - Price behavior - Linkages to other fuel markets Risk and Risk Management - Volume risk and price risk - Identification of exposure - Measurement and quantification of risk (including VAR)
Who Should Attend

The course is ideal for anyone who needs an introduction to energy trading and the role of trading within gas and power markets. Typical delegates would include support staff, analysts, accountants and managers in trading area, along with those involved with energy supply, risk management, credit, finance, contracts, IT, operations, transportation and storage. The course would also be suitable as an introductory foundation course for someone just starting out in a trading career, or making the transition to gas and power trading from other markets.
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Overview of the European Natural Gas Industry (ENG)

26 Nov London Course Fee: 745 This introductory course gives an overview of the fundamentals of the natural gas industry, with a European perspective. Those who attend will learn how companies search for natural gas and oil, how gas is produced and processed, physical characteristics of natural gas, quality issues and measurement. In addition, attendees will learn the basics of gas transportation and storage, including an introduction to the LNG industry. The course addresses the supply and consumption of gas within the European gas market and globally. Uses of natural gas are explained and important trends in consumption are analyzed. Participants are introduced to the characteristics of liberalized gas markets and the nature of gas trading markets within Europe.
What You Will Learn

Natural gas exploration and production Natural gas processing Different gas quality specifications Different gas measurement units Global natural gas supply and demand Global reserve/production ratios Uses of natural gas Major uses of natural gas globally Environmental advantages of natural gas The basics of LNG LNG trade movements globally Operational principles of physical natural gas supply Fundamentals of gas distribution networks Balancing gas supply and demand Function and options for storage Global gas market liberalization
Who Should Attend

This course is ideal for any individual new to the natural gas industry or an existing participant who needs to understand the basics of the operation of their business. It also provides an excellent overview for individuals who work in financial or consulting roles and have an interest in the natural gas chain.
Teacher is very professional and really
skilled.
S.R., GME
124
Exploring European Natural Gas Markets (EEGM)

13-14 Mar London 27-28 Nov London Course Fee: 1175 Now that you have a satisfactory understanding of the gas industry in Europe, find out more about the supply and demand for gas and how and where gas is traded. This two-day workshop will give you a comprehensive understanding of the developing European natural gas market. Discussion is focused on market responses to the EUs market liberalization programme and on the nature of the wholesale gas trading that now occurs in the UK and Europe. Participants will have an opportunity to consider how and where natural gas is currently traded and opportunities for new trading hubs. Topics covered include the types of instrument, traded and the formal and informal market arrangements for trading gas. Case studies provide practical application of concepts being taught. We look in more detail at the operation of the UK gas market, currently the most highly developed trading market. Issues affecting the ability of new market entrants to effectively participate in the European gas markets and proposed solutions to these problems are discussed.
What You Will Learn

Gas market fundamentals: natural gas infrastructure, production and consumption of gas Gas supply: sources of production and imports Markets for natural gas in Europe: demand-side pricing drivers Gas market liberalization: before and after Gas trading in Europe: contracts, trading instruments, markets, hubs and trading locations The UK gas market: how it operates Risk management in the European gas market
Who Should Attend

Any individual who has a physical or financial interest in the energy industry will benefit from the insights this course offers. Including those in accounting, trading, investment management and banking.
Teacher is very
skilled and exposition has been excellent.

S.R., GME
125
Communicating and Negotiating Major Contracts in the Oil and Gas Industry (CNOG)
8-10 Oct Oxford Course Fee: 2170 Fee + Accommodation: 2590
E! NEWCOURS
This course covers all areas aspects of communication that are likely to be encountered in negotiating international contract in the oil and gas industry. Delegates will learn how to make the right first impression, how to understand the dynamics of a negotiation with people from another culture, how to negotiate successfully in an international arena and how to avoid many of the pitfalls that may occur. Case studies and exercises will provide hands-on experience to enable delegates to improve their effectiveness in inter-cultural situations encountered when negotiating international contracts.
What You Will Learn

The effective use of verbal communication, including paralinguistics Interpretation of non-verbal communication, including the meaning of :- Personal space - Different perceptions of time - The context in which communication occurs - The implications of touching, including handshaking - Reading eyes, faces, hands, body posture etc - Gift giving etc Cultural differences based on perceptions of power, support, risk, context, individuality and other relevant factors Effective means of persuasion Effective techniques in negotiation How to manage and successfully resolve conflict and disputes
Who Should Attend

This is an immensely valuable course for anyone seeking improved communication skills, anyone needing to deal with people from another culture, anyone being posted abroad into a new culture and everyone involved in contract negotiations. Its case studies and exercises are tailored towards the oil and gas industry but its messages apply to all communication and negotiation with particular emphasis on inter-cultural differences. As all life is a negotiation the course is therefore widely applicable to all levels of management in internationally focussed industries. This includes, inter alia, contract negotiators, sales, marketing and commercial personnel and financial specialists, operators, planners and analysts from international oil and gas producers, suppliers, shippers, importers and consuming companies. Bankers, lawyers and specialist advisers to the oil and gas industry will also sfind the course valuable. Expatriated personnel will also find it especially useful.
126
Overview of the Global LNG Industry (LNG)

Please contact us for dates and fees. Want to take the mystery out of LNG? If so, this course will discuss all facets of LNG from the exploration of natural gas to the ultimate end-user pricing. Designed as a course to introduce participants to both the technical and commercial aspects of the LNG marketplace, attendees will garner a better appreciation for LNG both as a fuel and a competitor to traditional natural gas. From this, participants will better understand the current and future impact of LNG as a tradable cargo and not just another mechanism for delivery of natural gas.
What You Will Learn

The LNG chain, identifying key stages in LNG production, transportation and receiving functions and capacity Key market players will be identified as well as potential future participants Introduction to LNG pricing and short-term LNG trading Spot trades and swaps will be looked at and analyzed Natural gas the basics What is LNG? LNG production processes Technologies used in liquefaction Technologies used in shipping Re-gasification
Who Should Attend

This introductory course is perfect for anyone looking to get involved in the LNG marketplace, either financially or physically. This course would also benefit individuals who desire a better understanding of the marketplace their company is already in or considering an investment in.
127
Overview of the LNG Value Chain (LNG1)

13-15 Jun Perth 25-27 Jun Oxford 1-3 Oct Singapore 17-19 Oct Oxford Course Fee: Europe 2270 Fee + Accommodation: Europe 2690 Asia US$3300 Australia US$3300 This course provides a comprehensive overview of the LNG value chain from upstream supply, liquefaction, shipping and regasification of LNG into downstream markets. The course is designed for new entrants to the LNG business or for those with some knowledge of the business wishing to broaden their understanding of the complete value chain. Those without prior knowledge of the LNG business may wish to familiarise themselves through the pre-study web based course. After learning the fundamentals about LNG, the course covers the liquefaction process and LNG plants, shipping and regasification terminals with a focus on what happens along the value chain. This is followed by an understanding of the commercial issues affecting LNG projects, the players and the various drivers affecting the development of LNG projects. Key aspects such as project development, timescales and the range of Agreements and their integration will be covered. The course then moves on to the global LNG supply sources, markets and trading and the factors affecting the growth of the LNG business.
What You Will Learn

What is LNG? Liquefaction LNG Plants LNG Shipping LNG Regasification Commercial considerations in developing LNG projects How does LNG compete? Who are the players? Commercial Structure of an LNG Project Main Agreements in an LNG project LNG Project profitability LNG Supplies, Markets and Trading LNG Supplies where will it come from? LNG Markets where will it go? LNG Trade LNG Pricing LNG - The Future Exercises and Case Studies
Who Should Attend

Delegates encouraged to attend include individuals and companies new to the LNG sector, sales and marketing professionals within the electricity and gas industries, planners and analysts within the electricity and gas industries, professionals working within the LNG sector who require a broader perspective, natural gas traders and shippers, consultants and IT providers wishing to understand LNG better, equipment and service providers to the industry and regulators, bankers and lawyers working with LNG companies are encouraged to attend.
128
International LNG Contracts Commercial Factors and Negotiations (LNG5)

2-6 Jul Oxford 15-19 Oct Singapore Course Fee: Europe 3195 Fee + Accommodation: Europe 3895 Asia US$4350 LNG Sales and Purchase contracts generally take much longer to negotiate than equivalent pipeline gas contracts. This is not surprising in view of the very large sums, complexity and risks involved. These differ greatly from those involved in pipeline sales and purchase contracts. This five-day course will give you a deeper understanding of the contractual issues in LNG sales contracts as well as risks and how to mitigate them. The main focus of the course will be on the LNG Sales and Purchase Contract itself but it will also include the relationship to other contracts in the LNG Project from gas field to buyers reception and vaporization facilities. During the negotiation sessions delegates will have the opportunity to test their understanding of the issues involved and apply the knowledge gained during this course.
What You Will Learn

The overall structure of LNG projects and contractual risks and relationships. Relationship of various contracts for the project The detailed structure and content of the LNG Sales and Purchase Agreement Issues arising from various delivery arrangements (DES,FOB,CIF etc) The main markets and pricing structures for LNG contracts Issues in financing LNG projects
Who Should Attend

Commercial and technical personnel with experience of international pipeline natural gas sales agreements who wish to extend their knowledge to LNG agreements Personnel from government, regulatory and fiscal authorities who wish to widen their knowledge of contractual and commercial issues in LNG Personnel with substantial experience in the natural gas industry Relative newcomers to the natural gas sector are welcome to join the course but maximum benefit will be obtained by those participants with at least some prior experience of LNG operations or commercial issues
129
LNG Shipping: The Centre of Global Gas Supplies Harmonising the Upstream, Downstream and Mid Stream (TDLNG)
10-12 Oct Singapore 27-29 Nov Oxford Course Fee: Europe 2270 Fee + Accommodation: Europe 2690 Asia US$4350 This intensive three-day course is designed to take participants through all of the commercial, technical, operating, legislative and legal issues affecting the shipment of LNG from export to import terminal. This is accomplished through a combination of presentations, exercises and case studies under the direction of a team of expert speakers with practical experience of the LNG industry and shipping. The aim is to give participants the ability to assess opportunities and manage operational and commercial risks in LNG shipping. Please note: a laptop and up-to-date version of Microsoft Office would be an advantage in order to engage in market data, however is not essential.
What You Will Learn

LNG Consumption and Production Trends - The Drivers For Shipping
- Potential consumption growth trends by region - Sources of supply - LNG projects
The Impact of LNG Sales Agreements on Shipping

- Obligations - Permissions approvals and permits - Arbitration provisions - Transportation, berthing, unloading
LNG Vessels and the Market

- Growth and future development of the World LNG carrier fleet - Demand and supply for LNG carriers - Charter rates and the developing spot market - Key players - shippers and ship owners
LNG Ship Design and Technical Considerations

- Including the calculation of shipping requirements
LNG Shipping Contracts LNG Charter Parties LNG Supply Chains, Ownership and Pricing Arrangements - Managing Risk and Optimising Value LNG Marine Terminal Operations
- Terminal site selection, design, safety considerations - Terminal storage and load/discharge schedule simple exercise - Port authority support and controls - Ship and shore compatibility - Terminal and shipboard operations - Unusual operations cool down/warm up and inerting - Ship to ship transfers - Reliquefaction ships
LNG Ship Operating Costs

- Ship prices and capital costs - Fixed operating costs - Voyage costs
The Evaluation of Shipping Economics and Calculation of Freight Costs

- An Exercise in Calculating LNG Freight Costs
Who Should Attend
LNG Shipping Game
Delegates encouraged to attend include commercial and financial specialists, operators, planners and analysts working in shipping companies. In addition, sales, marketing and commercial personnel from LNG producers, suppliers and importers. For example, national producer companies, international oil and gas companies, utilities and industrial gas consumers are urged to attend. Port authorities and terminal operators, individuals and companies new to the LNG sector, bankers and lawyers advising on LNG and LNG shipping, terminal and supply projects, and regulators and government organizations having an interest in the LNG sector will find the course valuable.
130
International Gas Contracts Commercial Factors and Negotiations (NG5)

17-21 Sep Oxford Course Fee: 3195 Fee + Accommodation: 3895 The vast majority of natural gas sales, including international ones, are via pipeline. Unfortunately such familiarity may lead to a less than successful approach to the negotiation of such sales and purchase contracts - as several companies have learned to their cost. This five-day course will give you a deeper understanding of the contractual issues as well as risks and how to mitigate them. It will also help to reduce the time (and money) spent on negotiations. The main focus of the course will be on large pipeline international sales and purchase agreements but it will also include their relationship to other contracts in the pipeline gas chain. In particular, it will consider how the risks and contractual provisions change as the contracting parties change along the gas chain from gas field to end-users such as electric power generators, chemical and fertilizer plant. Using the Bolonia case study, participants will be able to practice their negotiation skills and knowledge gained from the course as well as test their understanding of the contractual issues involved.
What You Will Learn

The detailed structure and content of the natural gas sales and purchase agreement How to analyse the risks involved and methods to mitigate against them for both buyer and seller Negotiating skills and how to manage the negotiating process Metering and gas quality specification issues and how they relate to price and invoicing
Who Should Attend

Commercial and technical personnel involved in all forms of natural gas activities, both national and international, wishing to deepen their understanding of natural gas sales and purchase agreements and their negotiation. Personnel from government, regulatory and fiscal authorities who wish to widen their knowledge of contractual and commercial issues in gas agreements. Relative newcomers to the natural gas sector are welcome to join the course but maximum benefit will be obtained by those participants with a good understanding of how the gas industry operates or have attended the NG3 course: The Gas Chain Concept - Industry Structure, Economics, and Pricing
131
The Gas Chain Concept - Industry Structure, Economics, and Pricing (NG3)
3-7 Sep Oxford Course Fee: 3195 Fee + Accommodation: 3895 This highly popular five-day course provides a comprehensive introduction to the concept of the "gas chain," a thorough understanding of which is essential for anyone associated with the natural gas business. The result is an understanding of the interdependence of each phase of the gas business and the implications of this for the commercial organisation, finance, operation and structure to commercialise gas reserves.
What You Will Learn

This is a partial outline. Please visit our website for a complete version. Organisation of the Natural Gas Industry - Historical review - Organisation of the industry in industrial countries - LDC-s issues which affect the industry structure Production, Transportation and Supply Factors - Economics of natural gas production - The producer/transmission interface - Onshore and offshore pipelines Pricing Concepts and Marketing - Pricing mechanisms - Competition at the burner-tip - Negotiated prices Government Involvement: Regulation, Control and Competition - Effect of taxation and royalties on project economies -Differing regulatory systems around the world -Pros and cons of government control Case Study - Formal issues will be woven around the Bolonia case study, focusing on the economics of multisource gas supply, imports transmission, distribution and marketing using a computer model for forecasting
Who Should Attend

Specialists who wish to broaden their understanding of the technical, commercial and political workings of the international gas industry, as well as managers who are relative newcomers to the gas business.
132
Overview of and Opportunities in Latin American Natural Gas (LANG)

Please contact us for dates and fees. This workshop introduces participants to the Latin American natural gas market and the countries with the most significant opportunities and operations. This course will also review the geopolitics, pipeline structures, supply LNG initiatives, and storage. In addition, the course will review the regulatory environment specific to the most significant suppliers in Latin America. The course will offer a special focus on natural gas operations, pipeline structures, reserves, supply, challenges, and opportunities in Brazil, Bolivia, Peru, Mexico, Venezuela, Colombia, Argentina, and Chile. The course addresses both independent (IOC) and national (NOC) Latin American natural gas producers.
What You Will Learn

Overview - Bolivia home to the region's natural gas reserves - Bolivia, Brazil, Argentina and Chile supply contracts - Efforts at regional integration - Natural gas reserves by country - Natural gas production by country - Regional supply and demand Countries covered - Bolivia - Argentina - Chile - Mexico - Brazil - Colombia - Venezuela - Peru
Who Should Attend

Global energy-related companies or other interested parties engaged in the due diligence process for partnership, joint venture or assessment opportunities in the Latin American natural gas sector. Any professional, in any discipline, seeking a better understanding of analyzing opportunities in the complex Latin American natural gas market would find this course of interest including bankers, lawyers, energy analysts and other professionals in the energy sector.
133
The Changing Geopolitics of Oil and Gas: Identifying and Managing Political Risk (GEOP)
Please contact us for dates and fees. This two-day workshop explores geopolitical context within which oil and gas companies operate and how it affects daily business practices. This will be done, with a view toward understanding particular geographical locales and associated political risks. Regions to be covered include: United States, Africa, Latin America, and Middle East and Asia. Special emphasis will be placed on the rise of resource nationalism, as evidenced by the more than 100 national oil companies that currently exist. Moreover, political risk tools and strategies will be presented so that delegates learn concrete skills that they can use in their work.
What You Will Learn

Historical and contemporary overview of the geopolitics of oil and gas Understanding what political risk is Identifying specific above-ground political risks in the oil and gas industry - Politics and governance - Security - Reputation and social - Infrastructure and health Regional political risks - Africa: emphasis on West and Central Africa and emphasis on national oil companies - Latin America: emphasis on Bolivia, Brazil, Ecuador and Venezuela - Middle East: emphasis on Gulf states and Iran - Asia: emphasis on the rise of China as a global actor and implications for the industry Political risk mitigation tools (strengths and weaknesses) - Political risk insurance - Security - Multi-stakeholder engagement - Internal policies - Portfolio diversification The course includes exercises based on actual political scenarios and case studies. Delegates are also placed in teams to facilitate learning.
Who Should Attend

All energy professionals involved in considering political risk mitigation strategies including executives, middle managers, analysts, in-house lawyers, project managers and government officials.
134
Natural Gas in the Competitive Electricity Generation Market (NGPG)

16-20 Jul Oxford Course Fee: 3195 Fee + Accommodation: 3895 Demand for electric power can fluctuate over very short time intervals yet cannot easily be stored. Transmission over long distances may result in appreciable losses. There is an ever increasing concern for the effect of power generation on the environment. And yet increasing standards of living have to be reconciled with the related increasing consumption and fluctuating demand of electric power. This course focuses on the use of natural gas and its role in a competitive market using various fuels, technologies and sizes of plant. It attempts to produce some ideas and considerations for reconciling at least some of these factors. There are no pre-requisites for this course, nor is any advanced preparation required.
What You Will Learn

Steps in the conversion process from primary fuel to secondary (electricity) Risks, economics and technical-commercial issues at each step Competing technologies and size/fuel/location considerations Use of LNG and pipeline gas and factors affecting their supply and utilization Contractual issues in power generation Financing power projects The role of regulation pools and markets Private or embedded sales e.g. contract energy management and alternative generation An introduction to gas and power trading
Who Should Attend

Anyone interested in understanding the dynamics and competitive aspects of power generation and particularly the role of natural gas as pipeline gas or LNG. The course would therefore be of interest to formulators of government energy or regulation policy, energy regulators, energy and project economists, providers of finance and energy marketers.
135
Fundamentals of Natural Gas Basis Trading (NGBT)

Please contact us for dates and fees. After learning all there is to know about exchange-traded futures and options, traders are always faced with a complex dilemma - Basis. The B word can make or break a successful hedging or trading program. This one day programme includes timely real world examples to reinforce the application of basis trading concepts and tools. After completing this course, delegates will have a strong working knowledge of basis trading. This knowledge will be put to the test during an exciting trading simulation.
What You Will Learn

Basis fundamental analysis, including: - Weather - Regional supply/demand analysis - Current market perception - Transportation - Displacement analysis - Common errors of fundamental analysis Basis statistical analysis, including: - Measurement of historical relationships - Seasonal analysis Common basis-related instruments: - Basis swaps - Fixed-price swaps - NYMEX look-alikes
Who Should Attend

Class delegates include everyone from trade support staff all the way up to senior management anyone who needs to learn how to analyze and take advantage of proper basis risk/opportunity analysis. The programme deals with many different energy commodities.
I wish I had taken

this course
several years ago.
D.V.D.B, Direct Energy
136
Energy Value Chain (EVC)

12-14 Jun Geneva 24-26 Sep London Course Fee: Europe 1790
This three-day workshop provides a comprehensive introduction to the supply value chains and trading of oil, gas, coal and power. The course also covers the basics of the emissions trading market. Topics explored include quality issues, market fundamentals, trading patterns and locations, trading instruments and pricing mechanisms and transportation. Delegates will get a flavor of the trading markets for each commodity through competitive team trading simulations.
What You Will Learn

Oil Value Chain - Physical properties of oil - Key refining processes and main products - Transportation and logistics, including trade flows, global supply constraints and freight pricing - Structure of oil industry and key geopolitical issues - Crude oil trading: crude selection, valuation and pricing; use of benchmarks and instruments traded - Refined products trading: pricing basis, trading strategies and price drivers Coal Value Chain - Physical properties of coal gas - Reserves and production statistics - Fundamentals of coal transportation - Consumption statistics and trends including demand drivers - Growth of coal-to-liquids (CTL) processes - Trade movements - Structure of the coal industry and market participants - Coal trading: trading markets, instruments, price drivers
Natural Gas Value Chain - Physical properties of natural gas - Natural gas processing - Fundamentals of gas transportation: pipeline and LNG - Balancing supply and demand and use of gas storage - Consumption statistics and trends including demand drivers - Gas flows and trade movements - LNG developments: construction of new LNG terminals, growing LNG tanker fleet; outlook for global LNG market - Structure of the gas industry and market participants - European gas liberalization process and progress to date in key world markets. - Gas trading: major trading patterns and hubs, trading instruments and price drivers
Electricity Value Chain - Power market terminology - Fundamentals of electricity generation: production types and trends, including effect of environmental targets and regulations - Transmission issues and trade movements - Balancing supply and demand: load forecasts - Power trading characteristics - Structure of the power industry and market participants - European power market liberalization process - Power trading: trading patterns, power exchanges and balancing markets, trading instruments, and price drivers - Linkages between gas and power markets - Emissions trading
The course is highly interactive and delegates will get the chance to participate in exercises, case studies and physical trading simulations.
Who Should Attend

The course is suitable for anyone who wants to gain a greater understanding of the energy market including new entrants to the industry, as well as existing market participants who want to broaden their market knowledge. It could also appeal to individuals in the service side of the industry (financial, software, consulting etc).
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Overview of European Electric Power Markets (EEP)
29 Nov London Course Fee: 805 This introductory course gives an overview of the electric power industry and power trading markets in Europe. Those who attend will learn the basics of how electricity is generated and transmitted, and the fundamentals of electricity supply and demand in Europe. The course also addresses the trading of electricity in liberalized markets and the design of electricity markets, including exchange-based and over-the-counter trading and balancing mechanisms. Specific aspects of key markets, including the French, German, Nordic and UK markets are covered.
What You Will Learn

Characteristics of electric power Power generation Electricity transmission Uses of electricity European electricity demand European generation capacity and fuel mix Electricity market liberalization and EU market legislation Principles of power market design Balancing mechanisms Power trading and trading instruments Nordic power market German/Austrian power market French power market UK power market European power industry trends and outlook
Who Should Attend

This course is ideal for any individual new to the electric power industry or an existing participant who needs to understand the basics of the operation of their business. It also provides an excellent overview for individuals who work in financial or consulting roles and have an interest in the electricity trading markets.
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Overview of the North American Electric Power Industry (ET)

27 Apr Calgary 27 Sep Houston Course Fee: $1135 Deregulation of the electricity marketplace continues to be a controversial topic. During this period of historic and rapid change, there is much to learn. Let this programme be your first step. This one-day event is a combination of presentation and trading simulations.
What You Will Learn

Electricity basics: electrons and wires The fundamentals of electricity generation What makes electricity different from all other traded commodities Profiles of electricity market participants Trading motivations of different physical electricity market participants Financial/physical Major North American markets and how they operate Deregulation of the electric utility industry Trading pools and ISOs Transmission and ancillary services Natural gas spark spreads
Some topics covered in this workshop are specific to either the American or Canadian market and will be adjusted as necessary.
Who Should Attend

Those just starting up or supporting a power trading desk will benefit immensely. We will cover what is of interest to electric utilities, power marketers, IPPs, financial institutions, brokers, and end-users. No previous trading experience is required!
Very good birds eye view of the power industry basics.

H.R., NRG Energy
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Please contact us for dates and fees. This one-day workshop provides an overview of primary global emissions, key emissions trading activities and initiatives, and how emissions trading programmes serve to facilitate environmentally acceptable and cost effective solutions for clean air. Attendees will be actively involved through team participation in an exciting emissions trading simulation.
What You Will Learn

Key emission problem areas - Acid rain: sulfur dioxide, nitrogen oxides - Ground level ozone/smog: nitrogen oxides, volatile organic compounds - Greenhouse gases: carbon dioxide, nitrogen oxides, methane and others Forms of emission reduction implementation Cap and trade systems U.S. programs - Clean Air Act Acid Rain Program, Ozone Transport Commission, SIP - Call, Clean Air Interstate and Mercury Rules Framework for an emission-trading program Market structures and participants Emission-allowance pricing The Kyoto Accord and the European Emissions Trading Scheme (ETS) CDM and JI greenhouse gas-reduction programs Other national and state programs
Who Should Attend

This introductory course is perfect for new, or newly assigned, management staff of trading and operations, risk management, and accounting and credit/finance. Due to the broad treatment of this important topic, it is also excellent for the management and staff of marketing, computer services (IT), manufacturing (operations-engineers) and legal/tax groups. The subject matter of this course impacts us all, from both a personal and corporate standpoint.
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Trading, Derivatives, Hedging and Risk Management The Oil Industry The Natural Gas Industry The Power Industry More Energy Resources Renewables, Biofuels and Ethanol Courses in Foreign Languages
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TRADING, DERIVATIVES, HEDGING AND RISK MANAGEMENT
Introduction to Commodity Derivatives (ICD) In this introductory-level course, you will be exposed to the world of commodity derivatives. Along the way, you will learn about the different types of derivatives and how to identify each type. The course will cover futures, options on futures, swaps, over-the-counter options, and forwards. There are no prerequisites for the course, and no advance preparation is required. Back to the Futures (BTF) Take an adventurous trip through time as you learn the basics of the futures markets. Your time traveling host will accompany you back to the 1800s and forward to 2060 to show you how futures contracts and futures exchanges evolve, to help you identify the key participants and to introduce you to market terminology. Delegates taking this course should already have successfully completed PrincetonLive.com's A Guided Tour of Commodity Derivatives, or have equivalent knowledge. Understanding Commodity Risk (UCR) Experience and learn about the types of risk, terminology and basic concepts of risk analysis, and more advanced ideas that are specific to commodity risk. You will be introduced to the basic concepts and terminology needed to understand commodity risk. There are no pre-requisites for this course and no prior knowledge to the subject is required. Discovering Hedging (DH) Enter the exciting world of hedging. Please discover the different kinds of hedges in some pretty interesting areas of business. This basic course will introduce you to hedging types, applications and answers that old question: why hedge? Delegates taking this course should already have successfully completed PrincetonLive.com's Understanding Commodity Risk, or have equivalent knowledge. Discovering Options (DO) This course provides a good foundation for those wanting to learn about options and how they behave. You will find out what it means to be long options and short options and what kind of market position could result from buying and selling both calls and puts. Delegates taking this course should already have successfully completed PrincetonLive.com's A Guided Tour of Commodity Derivatives, or have equivalent knowledge. Understanding the Value-At-Risk Concept (UVAR) Value-At-Risk can be an important tool for measuring risk, but it's often misunderstood. Because of the complexity of value-at-risk calculations, it's easy to become bewildered. In this intermediate level course, users will tackle this complicated subject and have it explained in simple terms. Delegates taking this course should already have successfully completed PrincetonLive.com's Understanding Commodity Risk, or have equivalent knowledge. Using Weather Derivatives (UWD) In today's volatile markets, controlling risk is basic to success. For some companies, a deviation from normal weather conditions can turn anticipated profits into losses. Weather derivatives are a relatively new risk management tool used to protect against the financial impact of extreme weather conditions. In this intermediate level course, veteran weather reporter Gale Winds, from TV station WARM, introduces you to the world of weather derivatives. You will learn the impact of weather on business, what weather derivatives
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are and how they are used, how to quantify and qualify weather risk, how to structure a weather derivative and practical applications of weather derivatives. Knowledge of futures, options and OTC instruments is recommended before taking this course. Delegates taking this course should already have successfully completed PrincetonLive.com's Hedging with Futures and Options, or have equivalent knowledge. Tracking Correlation Risk (TCR) Ready to move up to a more advanced hedging experience? In this intermediate level course, meet Portia Bentley, champion race car driver and expert at negotiating tricky twists and turns on the track and in the portfolio. Join Portia at the track and learn what correlation risk and basis risk are and how they affect hedging. Delegates taking this course should already have successfully completed PrincetonLive.com's Discovering Hedging, or have equivalent knowledge. Introduction to Credit Risk Management (ICRM) In today's global economy, credit risk management is emerging as an essential component of business and industry success. In the past, this complex factor has often been overlooked and misunderstood and many firms have paid the price for not having credit risk management as a priority item in their business policy. Introduction to Credit Risk Management is a powerful intermediate level training tool to help you understand credit risk and teach you what your company can do to bring credit risk under control. There are no pre-requisites for this course and there is no advanced preparation required for this course. Emission Trading Markets and Regulations (EMTR) This course will provide an introduction to emissions trading as practiced worldwide. Beginning with a description of the economic rationale and business effectiveness of emissions trading, the course will introduce the important types of emissions trading. A brief history of emissions trading programs will follow with emphasis on non-carbon emissions. Then carbon emissions will be introduced with an overview of the global regulations and resulting business implications. Major carbon emissions markets, e.g., the European Unions mission Trading System, will be described. Finally, course takers will be educated in the mechanics of emissions trading with emphasis on trading methods, instruments, and pricing. Hedging Foreign Exchange Exposures (HFX) This intermediate level course introduces you to the risks involved in foreign exchange and the role of hedging in managing risk. Understand who they key players are and their roles, exchange rates and how they are determined, evaluation of risk and the various instruments available to protect one's self when hedging foreign exchange exposures. Delegates taking this course should already have successfully completed PrincetonLive.com's All Aboard the Hedge Express, or have equivalent knowledge. Hedging with Futures and Options (HFO) This intermediate level course provides an overview of hedging using exchange-traded futures and options. It covers key terms and concepts and reviews hedging strategies using futures and options for a range of different participants. You will enjoy practical examples from various commodity markets. Delegates entering this course should already successfully completed PrincetonLive.com's Back to the Futures and Discovering Options, or have a basic knowledge of the workings of the futures and options markets. Introduction to Forwards and Swaps (IFS) You are the new Risk Manager for Lucky Seven Airlines, and today's your first day. Join your new company and learn the basics of how forwards and swaps are the financial
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instruments that can help keep Lucky Seven in the air. On your first day on the job, you'll get an in-depth look at how they work and some practical applications. Delegates taking this course should already have successfully completed PrincetonLive.com's A Guided Tour of Commodity Derivatives, or have equivalent knowledge.
THE OIL INDUSTRY

An Introduction to the Oil Industry (IOI) In this introductory course, you will learn about oil what it is, where it is found, and how it is extracted. You will also learn how raw crude oil is turned into the petroleum products we are familiar with (like gasoline), before it is distributed to end users. We will even take a look at how the industry is organized. By the end of the course, you will have a good general understanding of oil, from the underground crude reservoirs to the gasoline pump. There are no pre-requisites for this course, and no prior knowledge of the subject matter or advance preparation is required. Introduction to Oil Shipping (IOS) This overview of the oil tanker market introduces you to different vessel types as well as the chartering process. You will become familiar with both charter contract terminology and freight rate calculations. Also included is a review of the impact current environmental and safety regulations have on the industry. Prior knowledge is not required and therefore ideal for new hires though this course serves as an excellent refresher course for professionals as well. There are no pre-requisites for this course and no prior knowledge on the subject is required. There is also no advanced preparation required for this course. Overview of the Global LPG Market (GLPG) This course provides an introduction to the fundamentals of the global LPG market. Liquefied Petroleum Gas has diverse applications and uses and therefore plays an important and lucrative role in the energy marketplace. Youll become familiar with its value chain and how it is shipped and traded across markets. Fuels Quality Overview (FQO) NEW COURSE! The goal of this course is to provide a basic understanding of fuels, specifically gasoline and diesel. What makes them different? What are the unique properties of each? How have the quality of the fuels changed over time and what has driven that change? These are just some of the questions that will be answered in this web based course. Introduction to Refinery Economics (IRE) This course provides an overview of the economics of refining. Youll learn how refineries make money, and what affects their profitability. Well review the fundamentals of refinery operations and planning, as well as optimization and blending. Well also cover crude oil quality and valuation. Youll understand how refinery margins are calculated. Finally, this course will provide an overview of the market outlook for refining. Introduction to Petroleum Chemistry (IPC) Recognizing the chemical make-up of hydrocarbons is one of the fundamentals of the petroleum industry. Learn about the structure of hydrocarbons and some common hydrocarbon compounds that are essential to the petroleum industry. This introductory course teaches you all about the properties of hydrocarbons that make them the building blocks of petroleum chemistry. There are no pre-requisites for this course and there is no advanced preparation required for this course.
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Chemistry in the Petroleum Refinery (CR) Chemistry is the foundation on which the petroleum industry is built. In this intermediatelevel course, you will learn how hydrocarbons found in crude oil are transformed into a range of marketable petroleum products. Learn about the chemistry associated with the major operating units hydrocracker, fluid catalytic cracking unit, coker, alkylation unit, catalytic reformer, isomerization unit, and hydrotreater. Delegates taking this course should already have successfully completed PrincetonLive.coms Petroleum Refining Made Easy, or have equivalent knowledge. Petroleum Refining Made Easy (PR) Come and see how a refinery operates in this introductory course. See how crude oil travels though the refinery and becomes petroleum products like gasoline, kerosene and lubricants. Learn the functions of the various units. There are no pre-requisites for this course and there is no advanced preparation required for this course. A Basic Overview of Petrochemicals (BOP) In this intermediate level course you will be introduced to the building blocks of petrochemicals, the nine key hydrocarbon compounds that form the basis for the petrochemicals industry. We will cover these important hydrocarbons one by one, sharing knowledge of how they're derived, the technology employed to produce them, and some of the many products manufactured using them. Please join us and enjoy this opportunity to learn how petrochemicals have become one of the most important industries in today's world. Delegates taking this course should already have successfully completed Introduction to Petroleum Chemistry, or have equivalent knowledge of refining chemistry. Introduction to the Aviation Fuels Market (IAFM) This course provides an overview of the aviation fuels market, covering quality, supply, demand and trading. Youll learn the basics of producing aviation fuels in the refinery. Well review the different types and quality of jet fuel and aviation gasoline. Well also cover the key factors affecting supply, demand and trade flows. Youll understand how aviation fuels are traded and priced, and how they are distributed to airports. Finally this course will provide an overview of the outlook for the aviation fuels market.
THE NATURAL GAS INDUSTRY

Natural Gas Liquids (NGL) NEW COURSE! This course provides an introduction to the fundamentals of the natural gas liquids market. Natural gas liquid (NGL) processing is becoming an increasing important activity in the global energy market. NGLs have a variety of industrial and commercial uses and are being consumed in increasing quantities as both feedstocks and in consumer products. Overview of the Shale Gas Market (SGM) This course provides an introduction to Shale Gas development and will provide you with the information youll need to better understand the material contained in the Oxford Princeton Programmes natural gas coursework. Shale Gas is changing the dynamics of the global natural gas industry. The development of techniques to economically free natural gas trapped in shale rock has reversed the trend of stagnant gas production growth in North America, increased gas reserves and helped to limit natural gas price volatile. This course will introduce the student to the technical basics, as well as the issues and challenges encountered to further shale gas development. You will be introduced shale gas, its upstream production and the issues currently impacting the resources greater development, such as drilling costs, production decline rates, environmental concerns, regulatory challenges, its impact on the cost of natural gas and global natural gas production.
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Overview of the Global LNG Market (GLNG) This course provides an introduction to the fundamentals of the global LNG market. Liquefied Natural Gas (LNG) is becoming an increasing important fuel in the global energy marketplace. Youll learn about recent changes in contract terms, economics and the availability of spot cargoes are transforming the industry from a one-time regional market to a global source of gas supply. Overview of the Natural Gas Industry (ONG) In this basic course, see how natural gas is produced and marketed in the natural gas industry. There are lots of exciting content that takes you from the formation of natural gas through processing and transmission to end-users. See how natural gas is traded in markets around the world. There are no pre-requisites for this course and there is no advanced preparation required for this course. Gas Markets and Deregulation (GMD) Around the world, natural gas deregulation is changing the structure of the natural gas industry. These evolving market structures have brought new opportunities, but also additional risks. In today's world, understanding what natural gas deregulation means, how it's implemented, and the new industry structures are requirements for successful energy trading and hedging. Delegates taking this course should already have successfully completed Overview of the Natural Gas Industry, or have equivalent knowledge of refining chemistry. European Gas: Security of Supply (EGSS) This JUST-IN-TIME course was created in response to the events in January 2009 when Russia curtailed supplies into Ukraine and many parts of Europe. Even as these two nations have come to an agreement to get gas flowing again, their dispute is a long-running one that has been brewing ever since the breakup of the Soviet Union. We are unlikely to see the last of it. What are the underlying dynamics of the dispute and how prepared is Europe and the rest of the world for when this situation makes headlines in the future?
THE POWER INDUSTRY

Overview of the Renewables Industry (ORI) This course provides an introduction to renewable energy resources that are emerging as major parts of the solution to global warming as well as a way to gain energy independence from the inherent power struggles over the fossil fuels of oil, coal, and natural gas. We will cover each renewable energy resource in a separate lesson. At the end, we will review the major reasons renewables are not readily adopted in the marketplace, and some of the ways government and utility operators are using to increase the pace of adoption. Introduction to the Power Industry (PI) In this introductory course, you will become familiar with what electricity is and how it is generated and moved to the outlet in offices and homes. We shall also examine the market participants and the basic principles of how the electricity markets are structured and what impacts those markets. There are no pre-requisites for this course and no prior knowledge on the subject is required. Power Trading in Europe (PTE) This course provides an overview of the power trading market in Europe, covering the trading markets and exchanges, traded instruments, impact of liberalization and power price drivers. Youll learn the different motivations for trading. Well review the
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fundamentals of the market, including the factors driving electricity prices. Youll understand how liberalization has changed the structure of the power market in Europe. Well also cover the different types of power trading instruments, the major markets and exchanges. Finally this course will provide an overview of the outlook for the European power trading market. Delegates taking this course should already have successfully completed PrincetonLive.com's Introduction to the Power Industry, or have equivalent knowledge. European Power Markets and Infrastructure (EMPI) This course provides an overview of the fundamentals of the European power market, covering market structure, supply, demand and power flows. Youll learn how liberalization is changing the structure of the power industry in Europe. Well review the different fuels used for power generation, and the factors affecting the generation mix in Europe. Well also cover the key factors affecting power demand and future consumption trends. Youll understand how electricity is transmitted across Europe, including key power flows. Finally this course will provide an overview of the outlook for the European power market, including the likely impact of environmental legislation. Delegates taking this course should already have successfully completed PrincetonLive.com's Introduction to the Power Industry and/or Power Trading in Europe, or have equivalent knowledge.
MORE ENERGY RESOURCES

Emission Trading Markets and Regulations (EMTR) This course will provide an introduction to emissions trading as practiced worldwide. Beginning with a description of the economic rationale and business effectiveness of emissions trading, the course will introduce the important types of emissions trading. A brief history of emissions trading programs will follow with emphasis on non-carbon emissions. Then carbon emissions will be introduced with an overview of the global regulations and resulting business implications. Major carbon emissions markets, e.g., the European Unions Emission Trading System, will be described. Finally, course takers will be educated in the mechanics of emissions trading with emphasis on trading methods, instruments, and pricing. Comprehending the Coal Industry (CCI) Coal, once the basic energy source for much of the world, is seeing a resurgence in today's complicated energy picture. This basic overview of the coal industry will take you from the mineshaft to delivery, giving you a glimpse of what the modern coal industry consists of. You'll learn about formation and mining, grades and quality factors, environmental issues, blending and transportation. There are no pre-requisites for this course and there is no advanced preparation required for this course. Overview of the Ethanol Market (OEM) This JUST-IN-TIME course was created in response to growing interest in the ethanol (biofuels) market as it continues to make headlines. A federal mandate to provide a 10% gasoline-blend by 2011 is paving the path for ethanol to become a mainstay of the American energy equation. Major oil companies are now embracing it and addressing the logistics and resources required to refine, blend, store, transport, and trade it vis--vis other refined products in their portfolios. Furthermore, ethanol is already widely available at the pump in markets like Brazil and with renewed worldwide focus as new technologies are identified, all interested parties need to dial up their foundational knowledge.
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Overview of the Renewables Industry (ORI) This course provides an introduction to renewable energy resources that are emerging as major parts of the solution to global warming as well as a way to gain energy independence from the inherent power struggles over the fossil fuels of oil, coal, and natural gas. We will cover each renewable energy resource in a separate lesson. At the end, we will review the major reasons renewables are not readily adopted in the marketplace, and some of the ways government and utility operators are using to increase the pace of adoption.
RENEWABLES, BIOFUELS AND ETHANOL

Overview of the Ethanol Market (OEM) This JUST-IN-TIME course was created in response to growing interest in the ethanol (biofuels) market as it continues to make headlines. A federal mandate to provide a 10% gasoline-blend by 2011 is paving the path for ethanol to become a mainstay of the American energy equation. Major oil companies are now embracing it and addressing the logistics and resources required to refine, blend, store, transport, and trade it vis--vis other refined products in their portfolios. Furthermore, ethanol is already widely available at the pump in markets like Brazil and with renewed worldwide focus as new technologies are identified, all interested parties need to dial up their foundational knowledge. Overview of the Renewables Industry (ORI) This course provides an introduction to renewable energy resources that are emerging as major parts of the solution to global warming as well as a way to gain energy independence from the inherent power struggles over the fossil fuels of oil, coal, and natural gas. We will cover each renewable energy resource in a separate lesson. At the end, we will review the major reasons renewables are not readily adopted in the marketplace, and some of the ways government and utility operators are using to increase the pace of adoption.
FOREIGN LANGUAGES
COURSES IN SPANISH Introduccin a la Industria del Petrleo (IOIS) En este curso introductorio, aprenders que es el petrleo y donde se encuentra, como es extrado, y luego como es convertido en productos con los que estamos familiarizados, tal como la gasolina, antes que sea enviado a los centros de distribucin donde se le facilita a los consumidores finales el acceso a dicho producto. Tambin veremos cmo es la estructura organizativa de la Industria. Al completar el curso, tendrs una visin global del petrleo desde su inicio en el subsuelo hasta la estacin de servicio donde nos surtimos de gasolina. No hay pre-requisitos para tomar este curso y tampoco es necesario de conocimiento alguno del tema. Asi mismo, tampoco se requiere una previa preparacin para este curso. COURSES IN JAPANESE (IOIJ) (IOSJ)
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COURSES IN RUSSIAN (IOIR) , . , (, ) , . . , , . - . (IOSR) . , . , . , . *Titles and content are subject to changes. Please check website for updates.
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Gianna Bern is president of Brookshire Advisory and Research, Inc., a registered investment advisory firm focused on oil and gas investment research and energy commodity risk management with clients based in Europe, Latin America, and the United States. Brookshire is the publisher of The Brookshire Energy Weekly Report, a weekly global oil market outlook and The Brookshire Energy Series, energy sector investment research. Gianna is an investment advisor and energy analyst with over 20 years of experience in the energy sector, risk management trading, corporate finance, credit portfolio management, and corporate banking. Gianna is working on her first book with publishers Bloomberg Press (New York) and Wiley Publishing (New Jersey) due in 2011, Investing in Energy: A Primer on the Economics of the Energy Industry. Prior to Brookshire, Gianna was a senior director in Fitch Ratings Latin America Corporate Finance group and was responsible for rating Latin American corporate issuers in the oil and gas and electric utility sector. Before joining Fitch, Gianna was the credit portfolio manager of a leading commercial lease finance company where she managed a $2.5 billion commercial finance lease portfolio. Previously, Gianna was a manager of risk management trading at BP Amoco Plc. Before the merger of Amoco Corporation and BP Plc., Gianna was a senior energy analyst at Amoco Oil where she focused on global oil industry macroeconomics. Gianna began her career in corporate finance at Continental Bank (now Bank of America). Gianna has a BBA from Illinois Institute of Technology and an MBA from The University of Chicago Booth School of Business. Dr. Carlos Blanco, an expert in energy, commodity, and financial risk management as well as modelling, has been faculty member at The Oxford Princeton Programme since 2004, and is the author of over 100 articles on such subjects. He is the founder and managing director of a risk management advisory firm with clients in North America, Europe, Africa and Asia. Carlos is a former VP, Risk Solutions, at Financial Engineering Associates, where he spent six years as a key contributor to the development of the firms energy derivatives valuation and risk management models. He had also provided leading-edge risk advisory and educational services to over 500 energy and commodity trading firms and financial institutions worldwide not to mention managing the firms support and professional services department. Prior to FEA, Carlos worked for a hedge fund in the Midwest and an asset management firm in Madrid, Spain. He is a former regional director of the Professional Risk Managers International Association (PRMIA). Chris Brown has over 20 years' experience in the petroleum industry, both in downstream operating companies and in business consultancy. He has particular expertise in the downstream oil sector economics including market and production analysis, strategic planning and investment analysis. He has run numerous training courses covering refining operations and economics and on the downstream oil industry in general. He has undertaken a wide range of consulting assignments around the world, reporting at clients' executive board and senior management level. These have ranged from high level strategic analysis and corporate planning, industry restructuring, support to privatisation and M&A, asset and operations optimization. He also has substantial experience in petroleum product pricing issues. Chris started his career at Exxons Fawley refinery in England, having gained a BSc in Chemical Engineering at Edinburgh University. Robin A. Burley is principal consultant with Kennet Oil Logistics, a company established in 1990 providing expertise in the international supply, trading and transportation sector. During his 30 years experience in the oil industry he has worked with BP including Marine and Supply Departments, and Gulf Oil including Trading and Transportation, Refining and Marketing functions. Besides the day-to-day management and negotiation of oil supply, trading and transportation deals, he has been involved in a variety of oil logistics projects throughout the world. He has lived in the USA, Europe and the Middle East, and is a contributing author to the Oil Trading Manual (pub. Woodhead 1995). Scott Carter operates his own independent consultancy specializing in oil trading and marine fuel projects in Europe. He has over 25 years experience in oil trading including the management and re-
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sponsibility of risk, supply and trading, refinery optimization and P&L. Mr. Carter was initially employed by P&O Shipping evaluating and executing group bunker purchasing. He moved into cargo trading in 1986 and joined Phibro Inc in 1991 where he became fuel oil desk lead and traded physical and paper fuel oil and feedstocks globally. Mr. Carter later took the position of Managing Director of Tosco Europe and Product Trading Manager and was instrumental in the company move into European trading and asset acquisition. On the purchase of Tosco by Phillips Petroleum and the subsequent merger with Conoco in 2002, Mr. Carter was appointed European Product Trading Manager of ConocoPhillips where he created a supply and trading operation of significant size and activity. Mr. Carter left ConocoPhillips in 2007 to move into consultancy and is studying an MSc in Environmental Management. Adrian Clark is Principal of Clark Strategic Solutions, a consultancy in the energy industry. Prior to setting up this consultancy in 2009, Adrian worked for over 30 years in Oil and Gas with BP. He began his career with BP in London before moving to Australia where, over a ten year period, he held a number of different roles at both of BP's oil refineries. The roles initially technical in nature, had more of a commercial focus as time went on. He was accountable for all planning and scheduling for the Brisbane refinery and progressed to Operations Manager, deputy to the Refinery Manager and accountable for the safe, efficient operation of the whole refinery. He then moved to Singapore, acting as BP's shareholder representative for its joint venture refinery there at a time of significant expansion of the site. Adrian returned to Australia three years later where he was then responsible for the development and implementation of strategy for BP's refining and supply business in Australia and New Zealand. In 2001 Adrian became Head of BP's Supply and Trading team for the region. Concurrently, he was Director on the Board of the New Zealand Refining Co Ltd. In 2004, Adrian returned to Singapore as a key member of the Asian Trading business's leadership team. In his last role he was accountable for development and implementation of the strategy for that business as well as the provision of analytical support for the commodity trading benches. Adrian holds a B.Sc in Chemical Engineering from the University of Edinburgh. Alan Fisher manages a consultancy company based in the UK serving the Catalysis and the Chemical and Petrochemical Industries. Prior to this he was Europe and Middle East Commercial Director for Engelhards Chemical Catalyst Group (now BASF) and managed Europe and the Middle East for CRI. His earlier career was as a process engineer for both Exxon and Monsanto. Alan studied Chemical Engineering at Newcastle University and is a Chartered Engineer with the Institute of Chemical Engineers. Randall Funk has 30 years of extensive risk management and trading experience in the full range of energy products including all NYMEX energy futures and options, OTC ISDA energy derivatives, as well as cash products. He has a proven track record of identifying and managing complex enterprise portfolios across the spectrum of energy products. Specifically he has traded and managed large scale corporate portfolios with crude oil and refined products, natural gas, electricity, coal, emission allowances, uranium and some foreign currencies. He has established new risk management departments, functions, and products in companies such as Coastal Corp., Heartland Energy, Arizona Public Services, and TOSCO/ Phillips and his career includes the front office roles of Vice President, Senior Portfolio Manager, Senior Energy Manager, Senior Risk Manager, Director of Risk Management, Manager of Futures Trading, and Futures Manager. From 1985 to 1989 he managed energy futures/options activity at Coastal Corp. He then moved to Arizona Public Services where he prepared the utility to for the commercial demands of deregulation in the late 1990s and managed through the Western U.S. Energy Crisis of 2000-2001. Mr. Funk has a BA from the University of Minnesota where he also did graduate work in Applied Economics. He has also been on several advisory boards for the NYMEX. Wouter Germans has 16 years of experience in the energy and financial markets including as a business analyst at a New York mutual fund, an options market maker in London, England, a natural
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gas trader, and for the last three years as a risk management consultant. Wouter received his BA in history and economics from UC Berkeley and is currently based in Toronto, Ontario. Dr. David S. Glass is a former director of ChemSystems Ltd (now part of IBM UK Ltd) in London. He directed the Petrochemical Practice and was responsible for studies in the petrochemical and polymer field with particular interests in marketing, competitive analysis, strategic planning and business profitability. He joined ChemSystems in 1982 after spending fifteen years in ICI in the Petrochemical Division, where he held posts in marketing and purchasing. For many years he was Marketing Manager for Olefins, and subsequently became Marketing Manager for Aromatics. Prior to this he was responsible for fuels purchasing for the ICI group. Dan Gordon is President of Aska Energy which serves the ethanol and refined products industries by providing procurement and distribution services to companies operating in that space. He was most recently Executive Director of Supply and Distribution for RaceTrac Petroleum where he was responsible for the purchase, hedging and distribution of over 2 billion gallons of gasoline, ethanol and diesel each year. He also oversaw a variety of activities including: trading (physical and paper), product scheduling, shipping (using pipelines, rail cars, vessels, barges and trucks), inventory positions and thru puts (in excess of 30) as well as all related vendor management and negotiations. He joined ReceTrac in 1999 as a Special Projects Manager for the finance department and ultimately achieved the position of Assistant Treasurer prior to being promoted. Mr. Gordon earned an MBA (Masters in Business Administration) from Georgia Tech. He is also a graduate of the University of Florida, where he received a bachelor of science with a degree in finance. Nigel Harris has over 15 years of experience of working with energy trading organizations to help them in their trading and risk management activities. Nigel was a key member of the team that designed and developed PAWS, Saladin's innovative oil and gas market analysis system, which was launched in 1987 and is still used extensively throughout the industry today. At Saladin, he helped expand the analytical capabilities of PAWS, and then ran all of Saladin's software development and customer support activities. After leaving Saladin in 1999, Nigel worked as an independent consultant for three years prior to forming Kingston Energy Consulting with Mary Jackson in 2002. Dr. Ian Holdaway is an international consultant in the downstream oil industry and Partner / Technical Director of Cambrian Marine Reprocessing, a company specialising in the on-site reprocessing of contaminated petroleum and petrochemical cargoes. After graduating with a PhD in industrial chemistry, Dr Holdaway joined Esso working in Research, Marketing and Corporate Planning before transferring to Refining, where he was responsible for Refinery Operations Planning and subsequently Supply Logistics, where he was responsible for the management of import and exports to Esso's two UK refineries and the transportation of refined product to Esso's mainland marketing terminals. In this role Dr Holdaway was also responsible for product tanker chartering, including, when necessary, outchartering of Esso's five GP product tankers. After 11 years he joined J Aron, the commodity trading division of Goldman Sachs, where, as Trading Operations Director, he was responsible for all aspects of J Aron's International Trading Operations within the European and Far Eastern Offices. Stuart Howell is Principal of the Castle Hampton Management Consultancy, former Head of BP's retail business in the UK and the industry's representative on the Government's Deregulation Task Force. The consultancy was established five years ago following 30 years service with BP which included senior posts in policy development, marketing, sales, network property management, investment and engineering. He currently advises oil companies, retail and city institutions. Roger Hutcheson joined Shell in 1961 as a quality control chemist and went on to work in lubricants marketing until the mid-1970s. Roger then started to specialise in automotive fuels, first for
152
Faculty
Shell UK and then for Shell International Petroleum. In July 1990 he was seconded to CONCAWE as Technical Coordinator, with special responsibility for automotive emissions. In September 1996 he returned to the UK and took early retirement from Shell. He is now Technical Director of his own automotive fuels and environmental consultancy, whose clients include a number of oil and additive companies, plus a major energy consultancy organisation. He has recently been commissioned by the US Society of Automotive Engineers to update the SAE Automotive Fuels Reference book. Mary Jackson has over 15 years of experience in the energy industry. She began her career at BP working in the information management group, then later rose to a trading analyst in the supply and trading department. She subsequently joined Saladin as an energy consultant to provide consultancy advice and training on energy market analysis, trading and risk management to clients throughout the world. In several senior roles at Saladin, she managed the energy consulting team, ran the energy market information service and directed strategy for new software and information product development, including the development of a new internet based trading system. After leaving Saladin, Mary worked as an independent energy market consultant until she formed Kingston Energy Consulting in 2002. She has lectured regularly for The Oxford Princeton Programme on energy markets, trading and risk management and is also a regular speaker and panel member at public conferences. She has written articles for industry publications including Harts Energy Markets, Energy and Power Risk Management, Global Energy Business and Petroleum Review. Mary obtained a bachelor's honours degree from Bristol University and a master's degree from London University. Malcom Johnson has more than 30 years experience at Shell in the natural gas/LNG sector. He was Strategy and Planning Manager in the United Kingdom and Germany during the period of gas liberalization in Europe. Malcolm has been involved in the development of a number of LNG projects including over 13 years on the Sakhalin LNG project from its inception to final investment decision involving the full range of commercial activities including governance, marketing, LNG contract negotiations and technical/ commercial interface management. He has also provided commercial advice on the Elba LNG receiving terminal expansion, floating LNG, LNG contracts and project development assurance. He is a recognised subject matter expert on commercial LNG matters. Malcolm is now a Director of eMJay LNG Limited providing expert advice and consulting services to the natural gas/LNG industries. Richard Johnstone is an independent consultant, providing expertise in all areas of oil supply and trading, in particular in the negotiation and operation of commercial contracts for oil and gas production, processing, transportation and sales. He has had over 30 years' commercial and management experience in major oil industry organizations, where his responsibilities have included sales and marketing, supply and trading, and transportation. Richard is a graduate of Oxford University; before becoming a consultant in 1997, he had worked for BP in London and Milan, the British National Oil Corporation, the Oil and Pipelines Agency (BNOC's successor) and BG Exploration and Production. Larry G. Lawrence President of Enterprise Risk Consulting, LLC, has 25 years of experience in energy risk management and trading. His experience includes financial trading in energy and equity markets, risk management and trading consulting, derivatives portfolio management, technical and options analysis, corporate education, advisory service publishing, and institutional sales. Mr. Lawrence has extensive experience in trading and risk management implementation for energy companies. His experience includes hedge strategy development, tactical trading assistance, the development of trading and risk management policies, procedures, and control structures, the review and assessment of risk management programs, risk and performance measurement, risk assessment, trading and risk system selection and implementation, transaction structuring, real option valuation and modeling, market structuring, development of forward price curves and term structures of volatility, credit risk management, and trading and risk management education. His work includes the evaluation and
153
Faculty
development of risk system functionality to support internal and external compliance with risk policies. He has developed and delivered educational material covering derivative instruments, option valuation, hedging with options, the development of a risk management program, trading controls, value at risk, technical analysis, technical trading, and basis trading. Mr. Lawrence has worked with many public power agencies in the South Central, Northeastern, and Western regions of the U.S., assessing and developing hedging strategies and risk management policies and controls, conducting trader training, and advising on the use of financial hedging instruments. He has assisted industrial energy consumers in assessing their energy-related risks, in developing strategic hedging frameworks, and in implementing supply procurement programs. Mr. Lawrence worked extensively with investor-owned electric utilities during the late 1990s and early 2000s, implementing hedging programs; developing and implementing hedge optimization models, asset valuation models, risk models, and performance measurement models; developing risk management and business strategies for retail providers; implementing credit risk management programs, and training power and fuel traders. Mr. Lawrence holds the BS in Communications from the University of Texas at Austin. He is registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) as a Commodity Trading Advisor (CTA), and with the State of Texas as an Investment Advisor. Charles Lawrie is a founding partner of Richardson Lawrie Associates, an independent firm of international maritime economists and business consultants established in 1987. He is responsible for the firm's consulting and retainer services in the crude oil, petroleum products and gas transportation sectors. He has spent 30 years in the oil and shipping sectors, more than 20 of which have been as project manager or senior consultant on shipping, economics, investment appraisals, feasibility studies, transportation strategies and business studies within Europe, the Americas and the Far East. He is a specialist in the development of: investment appraisals, business plans, strategy reviews; commercial/contractual advice, project implementation; evaluation of the transportation economics of varying routes, ports and cargo handling techniques; commodity trade flow analyses and forecasts; modelling and forecasts of short, medium and long term shipping traffic, shipping demand and shipping supply; and modelling and forecasts of shipping charter rates and vessel costs. Bob Mehall has been a successful executive in the energy business for over thirty years. As Executive Vice President of Diamond Shamrock, Inc., reporting directly to the Chairman/CEO, he was responsible for a variety of strategic corporate functions including refining and marketing coordination, petrochemicals, corporate planning and development, treasury and credit, investor relations and various other ancillary businesses including Mexico retail marketing operations, Bolivian exploration and production, Argentine refining and marketing. He directed the negotiation of major transactions including the acquisition of National Convenience Stores (Stop & Go), as well as the merger of Ultramar, Inc. and Total N.A. that totalled some $7 Billion. He has a B.S. in Chemical Engineering from West Virginia University, an M.S. in Chemical Engineering from Case institute of Technology and an M.B.A. from the Krannert School of Purdue University. Rob Parry is an Executive Account Manager with BASF Catalysts (formerly Engelhard) with experience in technical and commercial catalyst applications and supply to the Petrochemical and Refining Industries for 20 years. Rob has a BSc joint Hons. in Organic Chemistry and Biochemistry from UCW Aberystwyth and is a Chartered Chemist with the Royal Society of Chemistry. Jeffery Plotkin is the Director of Nexant Chem Systems' Process Evaluation/Research Planning (PERP) program. Managing this activity involves working closely with technology developers, including operating companies and engineering contractors. His interests are in all phases of process R&D, with special emphasis on gas-to-chemicals processes, selective oxidations, alkane activation, and biocatalyzed routes to chemicals. His prior work experience with ISP and Exxon Chemicals provided an excellent background for his interests in commodity and specialty chemicals from both a technology and marketing perspective. He holds over 30 U.S. patents and has co-authored 28 peer-re-
154
Faculty
viewed publications. He received his B.S. in chemistry from the State University of New York at Oneonta, a Ph.D. in organometallic chemistry from the University of Pennsylvania, and an M.B.A. from Pace University. He was a Postdoctoral Research Fellow at The Ohio State University. Les Priestley is a director of Springtide Management Consultants Ltd. He carries out international training and consultancy on commercializing and developing gas field discoveries. Before that he was Managing Director of the consultancy and technology transfer companies of Essex University. His 25 years experience with KUFPEC, Total and BP included assignments and projects in many countries around the world. He has held senior management posts in engineering, project management, contract negotiation, market development, project economics and planning. Richard Prince has almost 30 years of experience within the downstream oil industry, covering both marketing and refining businesses. Most recently responsible for marketing planning across the BP group, he has been an independent consultant since 2007. Richard has an MA in chemistry from Oxford University and began his career with BP in refinery process research and development, before gaining plant commissioning & operating experience. He joined Castrol in 1989, then part of Burmah Oil, as a manufacturing and supply chain advisor, before broadening his experience into marketing by managing the central business intelligence team. With subsequent management positions at BurmahCastrol in Strategic Projects and Corporate Development, he was a key contributor to the BurmahCastrol Board's decision to sell the business to BP in 2000. Returning to BP after the sale, Richard was appointed to the integration team set up to plan and manage the merger of the BP and Castrol lubricants businesses. Following a period in the downstream strategy & planning group, he took on a new role with responsibility for all planning activity in the global marketing function and was additionally responsible for developing these capabilities across the BP Group. Jeff Pym is currently affiliated to the US consulting firm, LECG. Until 2003 he was Director General of the Institute of Petroleum, a position he held following departure from BP in 1999. Sixteen years of his management experience were spent in BPs Gas businesses, mostly abroad negotiating contracts as diverse as the Australian North West Shelf LNG Sales and Purchase Agreement and gas sales agreements, corporate mergers and acquisitions. Having successfully negotiated a European downstream gas merger with Mobil, his final BP position was as Managing Director and Associate President for BP Portugal, retaining responsibility for the combined BP/Mobil Iberian gas business. Among other wide-ranging skills and experience during his career he acquired expertise in communications and inter-cultural management. Ravi Ramdas started his career at Shells Singapore office in 1993 where he held several roles in Finance and Trading; his last role managing a scheduling group and liaising with his London counterpart. He then moved to Koch, also in Singapore, where as a trading analyst, he devised trading strategies in the Asian petrochemical markets. In 1999, Ramdas moved to Minneapolis, Minnesota, where he opened the oil trading desk of NRG Energy. He then stepped up to head all fuels trading (natural gas, coal, emissions credits and oil). Soon, thereafter, he assumed the position of East Coast gasoline and diesel trading manager at Premcor Refining in Old Greenwich, Connecticut in 2004. There he successfully oversaw the trading transition of the purchase of the Delaware City refinery before taking on the role of feedstocks trader for the whole Premcor system of refineries. Following the sale of Premcor to Valero, Ramdas joined Oklahoma City-based start-up Musket Corporation in 2006 and traded diesel and other clean products in the Gulf Coast, mid-continent and southwestern United States. Ramdas fulfilled several roles including trading distillate products and gasoline on national pipelines and via rail, blending distillates in the Gulf Coast and developing a rail-based business to rail diluent to Canadian tar sands companies. In 2008 Ramdas formed Peninsula Energy, LLC in Oklahoma City. The company provides various hedging, trading, supply and logistics services to oil consumers and producers. In addition, Peninsula is evaluating a variety of projects including storage cash-and-carry plays. Ramdas obtained his degree in Economics and Agricultural Economics from the University of Nottingham in England.
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Faculty
Neil Richardson has career experience spanning 40 years in oil, gas and petrochemicals, acquired in oil refining, corporate planning, public administration, consulting and lecturing. Sponsored at university by BP, he went on to spend 24 years working with BP in both operational and strategic planning roles, which included refinery production planning, long-range financial and corporate planning, project and acquisition analysis, competitor analysis and the assessment of company performance and value. Posted by BP to Brussels in 1990, he went on to join the European Commission there in 1993 at the Directorate-General for Energy, working on EU oil and gas strategy and on EU technical assistance programmes to former Soviet bloc countries involving the setting-up and monitoring of projects. In 1996 he became an independent consultant, still based in Brussels but engaged on oil and gas projects in Russia, Eastern Europe, the Middle East and Africa as well as the EU, working primarily as an associate consultant to the consulting arm of Bechtel (latterly named Nexant). This included leading a major study project for the European Commission on the costs to EU refiners of tighter oil product specifications, which won the British Consultant of the Year award in its category in 2000. Mr Richardson returned to live in the UK in 2003 and lectures for The Oxford Princeton Programme on three of their courses. John H. Shepherd based in Houston, Texas, has 30 years of experience in the petroleum industry. John began his career with Cities Service Company (now Citgo Petroleum Corporation). His responsibilities included refined product terminal and pipeline engineering, pipeline and marine terminal management, transport truck fleet management, computer information systems management and crude oil supply and trading. Serving as International Crude Supply Manager and Vice President of Cities Service Trading Company, he negotiated spot, as well as long term contracts for the purchase of waterborne crude oil cargos for the supply and optimization of company refineries. He was also responsible for negotiating long term sales contracts with foreign host governments in order to market the company's foreign equity crude oil production. After 12 years with Cities Service Company, he joined the international crude trading group of Transworld Oil U.S.A. as Vice President, and then served in the same capacity for Koch Supply and Trading Company. With both Transworld and Koch, John managed a staff of professional international crude oil traders, dealing in a wide range of international crude oil grades. This work involved crude oil trading for the supply and optimization of U.S. based refineries, as well as entrepreneurial crude trading for profit involving complex arbitrage trading and hedging strategies. He now serves as President of John H. Shepherd Enterprises, Inc., a privately owned Texas corporation involved in energy consulting and residential real estate appraisal and construction work. John holds a Bachelor of Science Degree in Engineering from North Carolina State University. Richard Sleep is the global director of Nexants ChemSystems Online and Petroleum and Petrochemical Economics (PPE) programmes. (Nexant acquired Chem Systems from IBM in 2001). He has 25 years of experience in the petrochemical industry in production, business management, trading and consulting. Prior to joining ChemSystems in 1994 he had been a trader with Metallgesellschaft Petrochemicals Corp. He spent twelve years with BP Chemicals Ltd in a variety of roles, initially in production as a mechanical engineer working at BP Chemicals' steam crackers at Baglan Bay and Grangemouth and subsequently in commercial roles including five years as Propylene Product Manager. Prior to joining BP Chemicals he worked for ICI as an engineer working on polyethylene and perspex plants. Eva T. Thorne is a founder and principal of Corporate Governance Solutions and is a political risk specialist. She holds an undergraduate degree in history from Harvard University and a doctorate in political science from the Massachusetts Institute of Technology (MIT). Ms. Thorne has expertise in natural resources and emerging markets. Her firm's clients include oil and gas companies, government ministries and mining companies, among others. Eva has designed and carried out workshops for independent, state-owned and international oil companies, done marketing research and analysis on the telecommunications sector of Brazil, and executive coaching at the London Business
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Faculty
School. She has lectured widely on issues of political risk, corporate social responsibility and governance in the United States, Europe, and the Caribbean. Ms. Thorne writes and publishes on political risk in oil, gas, and mining for business journals and has lectured on these topics at industry conferences. She is completing a book on the politics of reform at the World Bank and is working on another book project on indigenous communities, land titling and extractive industries. She has lived and worked all over the developing world and speaks Spanish and Portuguese. Ms. Thorne resides in Boston, MA. Joseph A. Vaszily offers over 35 years of professional experience in the natural gas infrastructure and liquefied natural gas (LNG) energy sectors. Mr. Vaszily began his career as a Construction Field Engineer at Distrigas of New York then as a Gas Consultant at Stone & Management Consultants, Inc. before joining Brooklyn Union Gas where he progressed through several positions of increasing responsibility including Vice President, Gas Energy Inc. (unregulated power development affiliate) and Vice President, Methane Development (unregulated renewable energy affiliate). Thereafter, he became Vice President, Gas Infrastructure Development at KeySpan Energy Development Corp. He has also been an independent Energy Industry Consultant at Gas Asset Solutions, Northeast. He most recently was Director, LNG/natural Gas at Pace Global. Mr. Vaszily has also served as Executive Director by both the American Gas Association and the Natural Gas Supply Association, a national coalition that pursued domestic environmental growth initiatives. Mr. Vaszily holds a Bachelor of Science degree in Mechanical Engineering from the Polytechnic Institute in Brooklyn, NY. Jeanne Westhoff-Knight based in West Palm Beach, FL, is a professional with over nine years of experience in the energy industry. She has held positions with Mobil Oil Corporation as distillate sales consultant and regional trucking manager. As distillate sales consultant, Jeanne was responsible for promoting risk management programs to distributors in the Northeast. These programs included NYMEX based hedging strategies and counseling on the heating oil market. As regional trucking manager, Jeanne was responsible for lubricant sales to truck stops and dealers in New York, New Jersey and the New England states. Prior to her employment with Mobil, Jeanne was sales manager for a distributor in Palm Beach County, Florida. In this position she was responsible for bulk sales and distribution of gasoline, diesel fuels, methanol, lubricants, and additives. David Whitby BSc (Hons), MInstPet, is Chief Executive of Pathmaster Marketing, a business development consultancy for technology-based industrial businesses. Prior to this, he worked for BP for 22 years in a number of management positions, including Marketing and Business Development Manager for Kalsep (an advanced separations company), Business Manager for BP Ventures and Project Leader for Industrial Lubricants for BP Research. Dr. David Wood has some 30 years of international oil and gas experience spanning technical and commercial exploration and production operations, contract evaluation and senior corporate management. Industry experience includes Phillips Petroleum, Amoco (Africa, Europe and UK) and Canadian independents (South America, Africa, Middle and Far East), including three years based in Colombia and four years based in Dubai. From 1993 to 1998 he was he was UK Managing Director for Lundin and then Morrison Petroleum responsible for a broad portfolio of assets and a staff of more than 100. He now works as an independent international consultant and expert witness. He has published an extensive body of work on diverse energy related topics including: performance modelling of fiscal terms, economic analysis, enterprise risk and portfolio simulation, LNG, GTL and gas supply, deepwater exploration and production techniques, corporate performance, portfolio and strategy management, mergers and acquisitions, negotiations and project management. He is actively involved in diverse professional training, research and development programmes.
157
Index by Date
January 2012
23-24 25-26 25-26 27 30-31 London Houston London Houston Singapore Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Overview of Physical Crude Oil Trading and Operations (CT)
February 2012
1-2 3 3 13-15 27-28 27 Feb-2 Mar Singapore London Singapore Calgary Houston Oxford Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Front to Back Office- Trading Controls and Best Practices (FTBO) Fundamentals of Refinery Economics and Blending (FREB) North American Gas and Power Trading and Risk Management (NAGP) Fundamentals of Technical Analysis (TA) International Oil Supply, Transportation, Refining and Trading (SP1)
March 2012
13-14 19-20 21-22 London Singapore Singapore Exploring European Natural Gas Markets (EEGM) Energy Derivatives Markets, Instruments and Hedging (DPH1) Energy Derivatives Pricing, Hedging and Risk Management (DPH2)
April 2012
11-13 16-18 18-20 23-25 23-27 24 24-26 24-26 25 26 27 Singapore Oxford Singapore Singapore Oxford Calgary Houston Dusseldorf Calgary Calgary Calgary Trading Operations Practice (TRSQ) Understanding the International Petrochemicals Business - Technology, Markets and Economics (CH0) Tanker Ownership, Chartering and Operations (TD2E) Tanker Ownership and Chartering - Advanced Strategies and Risk Management (TD4) International Oil Trading and Pricing (TR1) Front to Back Office- Trading Controls and Best Practices (FTBO) Oil Trading Orientation (OTO) European Gas and Power Trading (EGPT) Compliance, Ethics and the Role of the Middle Office (FTBOII) Value-at-Risk: The Basics and Beyond (VAR) Overview of the North American Electric Power Industry (ET)
May 2012
7 7-8 7-9 8 8-10 9-10 9-10 10-11 11 14-16 15-16 21-23 New York Calgary Accra New York Dubai Calgary New York Accra Calgary Oxford Calgary Oxford Fundamentals of Energy Futures (FOEF) Overview of Physical Crude Oil Trading and Operations (CT) Retail Marketing - Maximising Outlets and Networks (RM0) Options I - Fundamentals of Energy Options (FOEO) Oil Trading Orientation (OTO) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Energy Risk Management (ERM) Network Planning and Asset Management for Professional Retailers (RMNP) Fundamentals of Refinery Economics and Blending (FREB) Gasoline and Diesel Fuel Technology (GDT1) Fundamentals of Technical Analysis (TA) The Olefins Business - Markets and Economics (CH6)
158
Index by Date
21-25 28 28 28 May- 1 Jun 29 30-31 29 30-31 Oxford London Melbourne Oxford Melbourne Melbourne London London Tanker Ownership, Chartering and Operations (TD2) Fundamentals of Energy Futures (FOEF) Fundamentals of Energy Futures (FOEF) The Use of Advanced Instruments in International Oil Price Risk Management (TR3) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM)
June 2012
4- 5 6-7 11 11-12 11-12 12-13 12-14 13-14 13-15 13-15 18-19 18-20 19-21 20-21 20-23 22 25 25 25-26 25-27 25-27 26 26-27 27-28 27-28 28 29 Houston Houston London Calgary Oxford London Geneva Calgary Oxford Perth New York Melbourne Stavanger New York Singapore New York Mexico City Zug London Oxford Singapore Zug Mexico City London Zug Mexico City London Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) Liquidity and Counterparty Risk Management (LCRM) Fundamentals of Oil, Petrochemicals and Gas Shipping (TD1) Energy Derivatives Markets, Instruments and Hedging (DPH1) Introduction to the Downstream Oil Business (DOB) A Practical Understanding of Commercial Risks in Laytime and Demurrage (TDL) Energy Value Chain (EVC) Energy Derivatives Pricing, Hedging and Risk Management (DPH2) Downstream Sales & Marketing (DSM) Overview of the LNG Value Chain (LNG1) Overview of Physical Crude Oil Trading and Operations (CT) Oil Trading Orientation (OTO) Oil Trading Orientation (OTO) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Principles of International Oil Trading (TR0) Fundamentals of Refinery Economics and Blending (FREB) Overview of the Petroleum Industry (OPI) Fundamentals of Energy Futures (FOEF) Energy Derivatives Markets, Instruments and Hedging (DPH1) Overview of the LNG Value Chain (LNG1) International Oil Trading - Advanced Techniques and Strategic Price Risk Management (TR2) Options I - Fundamentals of Energy Options (FOEO) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Energy Derivatives Pricing, Hedging and Risk Management (DPH2) Energy Risk Management (ERM) Fundamentals of Refinery Economics and Blending (FREB) Trader Psychology The Discipline and Methods to Trading Success (TPS)
July 2012
2-6 2-6 9-11 9-13 11-13 Oxford Oxford Singapore London Singapore International Oil Supply, Transportation, Refining and Trading (SP1) International LNG Contracts - Commercial Factors and Negotiations (LNG5) LPG Trading and Pricing - Shipping, Contracts and Price Risk Management (LP0) The Synergies of Refining, Trading and Supply (TRR) Understanding the International Petrochemicals Business - Technology, Markets and Economics (CH0)
159
Index by Date
16 16-17 16-20 17 18-19 18-19 20 30 Jul- 2 Aug Houston Melbourne Oxford Houston Houston Melbourne Melbourne Singapore Fundamentals of Energy Futures (FOEF) Overview of Physical Crude Oil Trading and Operations (CT) Natural Gas in the Competitive Electricity Generation Market (NGPG) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) The Synergies of Refining, Trading and Supply (TRR)
August 2012
13 14 20-21 22-23 24 27 27-28 28 29-30 Houston Houston Cape Town Cape Town Cape Town Calgary Houston Calgary Calgary Overview of the North American Natural Gas Industry (NANG) North American Natural Gas Transportation and Storage (NGTS) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Fundamentals of Energy Futures (FOEF) A Disciplined Approach to Asset-based Trading in Oil Markets (ABT) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM)
September 2012
3-7 3-7 10-11 10-13 10-13 12-13 14 17 17-18 17-18 17-21 17-21 18 18-20 18-20 19-20 19-20 21 24-25 24-26 24-28 24-28 26-27 27 Oxford Oxford London London Oxford London London London Calgary Singapore London Oxford London Oxford Singapore Singapore London Singapore Houston London Oxford Oxford Houston Houston International Oil Supply, Transportation, Refining and Trading (SP1) The Gas Chain Concept - Industry Structure, Economics, and Pricing (NG3) Overview of Physical Crude Oil Trading and Operations (CT) International Oil Trading - A Practical Approach to the Legal Issues for Successful Management of Claims and Disputes (TRL) Introduction to Renewable Energy: Resources, Technology and Commercial Opportunity (REN) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Front to Back Office- Trading Controls and Best Practices (FTBO) Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) Overview of Physical Crude Oil Trading and Operations (CT) LPG - Supply, Economics, Markets and International Trading (LP1) International Gas Contracts - Commercial Factors and Negotiations (NG5) Value-at-Risk: The Basics and Beyond (VAR) Aviation Fuels: Supply, Trading and Risk Management (AV1) Overview of Petrochemical Processes, Catalysts and Markets (PPCM) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Technical Analysis (TA) Fundamentals of Refinery Economics and Blending (FREB) Energy Derivatives Markets, Instruments and Hedging (DPH1) Energy Value Chain (EVC) Total Risk Management in the International Oil and Derivatives Market (TRM) Tanker Ownership, Chartering and Operations (TD2) Energy Derivatives Pricing, Hedging and Risk Management (DPH2) Overview of the North American Electric Power Industry (ET)
160
Index by Date
October 2012
1-3 1-5 2-4 8-10 10-12 10-12 15 15-19 16 16-18 16-18 17-19 22 22-26 23 23 24 24 29-30 29 Oct -1 Nov Singapore Oxford Geneva Oxford Oxford Singapore Calgary Singapore Calgary Houston London Oxford Houston Oxford Houston London Houston London Calgary Oxford Overview of the LNG Value Chain (LNG1) International Oil Trading and Pricing (TR1) Oil Trading Orientation (OTO) Communicating and Negotiating Major Contracts in the Oil and Gas Industry (CNOG) Overview of Petrochemical Processes, Catalysts and Markets (PPCM) LNG Shipping: The Centre of Global Gas Supplies - Harmonising the Upstream, Downstream and Mid Stream (TDLNG) Overview of the North American Natural Gas Industry (NANG) International LNG Contracts - Commercial Factors and Negotiations (LNG5) North American Natural Gas Transportation and Storage (NGTS) North American Gas and Power Trading and Risk Management (NAGP) European Gas and Power Trading (EGPT) Overview of the LNG Value Chain (LNG1) Front to Back Office- Trading Controls and Best Practices (FTBO) Petrochemical Markets and Economics - The Impact of Feedstocks and Costs on Competitiveness and Business Strategy (CH1) Compliance, Ethics and the Role of the Middle Office (FTBOII) Options II - Options Pricing and Applications (OPA) Value-at-Risk: The Basics and Beyond (VAR) Options III - Option Strategies (OS) Overview of Physical Crude Oil Trading and Operations (CT) International LPG Trading and Pricing - Supply, Shipping Contracts and Risk Management (LP2) Understanding the Global Lubricants Business - Regional Markets, Economic Issues and Profitability (LB1) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Principles of International Oil Trading (TR0)
29 Oct -2 Nov Oxford 31 Oct- 1 Nov Calgary 31 Oct- 3 Nov Singapore
November 2012
5 5-6 5-7 6 6-8 7-8 12-14 12-16 13-15 19 19-21 20 21-22 26 26-27 26-30 Las Vegas London Singapore Las Vegas Cape Town Las Vegas Oxford Oxford Houston London London London London London Singapore Oxford Fundamentals of Energy Futures (FOEF) A Disciplined Approach to Asset-based Trading in Oil Markets (ABT) International Oil Trading - Advanced Techniques and Strategic Price Risk Management (TR2) Options I - Fundamentals of Energy Options (FOEO) Oil Trading Orientation (OTO) Energy Risk Management (ERM) The Aromatics Business - Markets and Economics (CH5) Lubricants Refining and Manufacturing (LB5) Oil Trading Orientation (OTO) Fundamentals of Energy Futures (FOEF) International Trading Operations Practice (TROP) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Overview of the European Natural Gas Industry (ENG) Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) The Use of Advanced Instruments in International Oil Price Risk Management (TR3)
161
Index by Date
27-28 27-29 28-29 29 London Oxford Singapore London Exploring European Natural Gas Markets (EEGM) LNG Shipping: The Centre of Global Gas Supplies - Harmonising the Upstream, Downstream and Mid Stream (TDLNG) Liquidity and Counterparty Risk Management (LCRM) Overview of European Electric Power Markets (EEP)
December 2012
3-4 3-4 3-5 3-5 3-7 4 5 5-6 5-6 6 7 10-12 London Zug Calgary Singapore London New York New York London Zug New York Zug London Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) Overview of Physical Crude Oil Trading and Operations (CT) Oil Trading Orientation (OTO) Oil Trading Orientation (OTO) The Synergies of Refining, Trading and Supply (TRR) Options I - Fundamentals of Energy Options (FOEO) Options II - Options Pricing and Applications (OPA) Liquidity and Counterparty Risk Management (LCRM) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Options III - Option Strategies (OS) Fundamentals of Refinery Economics and Blending (FREB) Oil Trading Orientation (OTO)
162
Index by City
Accra Accra Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Calgary Cape Town Cape Town Cape Town Cape Town Dubai Dusseldorf Geneva Geneva Houston Houston Houston Houston Houston Houston Houston Houston Houston Houston Houston Houston 7-9 May 10-11 May 13-15 Feb 24 Apr 25 Apr 26 Apr 27 Apr 7-8 May 9-10 May 11 May 15-16 May 11-12 Jun 13-14 Jun 27 Aug 28 Aug 29-30 Aug 17-18 Sep 15 Oct 16 Oct 29-30 Oct 31 Oct- 1 Nov 3-5 Dec 20-21 Aug 22-23 Aug 24 Aug 6-8 Nov 8-10 May 24-26 Apr 12-14 Jun 2-4 Oct 25-26 Jan 27 Jan 27-28 Feb 24-26 Apr 4-5 Jun 6-7 Jun 16 Jul 17 Jul 18-19 Jul 13 Aug 14 Aug 27-28 Aug Retail Marketing - Maximising Outlets and Networks (RM0) Network Planning and Asset Management for Professional Retailers (RMNP) North American Gas and Power Trading and Risk Management (NAGP) Front to Back Office- Trading Controls and Best Practices (FTBO) Compliance, Ethics and the Role of the Middle Office (FTBOII) Value-at-Risk: The Basics and Beyond (VAR) Overview of the North American Electric Power Industry (ET) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Fundamentals of Technical Analysis (TA) Energy Derivatives Markets, Instruments and Hedging (DPH1) Energy Derivatives Pricing, Hedging and Risk Management (DPH2) Fundamentals of Energy Futures (FOEF) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) Overview of the North American Natural Gas Industry (NANG) North American Natural Gas Transportation and Storage (NGTS) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Oil Trading Orientation (OTO) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Oil Trading Orientation (OTO) Oil Trading Orientation (OTO) European Gas and Power Trading (EGPT) Energy Value Chain (EVC) Oil Trading Orientation (OTO) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Fundamentals of Technical Analysis (TA) Oil Trading Orientation (OTO) Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) Liquidity and Counterparty Risk Management (LCRM) Fundamentals of Energy Futures (FOEF) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Overview of the North American Natural Gas Industry (NANG) North American Natural Gas Transportation and Storage (NGTS) A Disciplined Approach to Asset-based Trading in Oil Markets (ABT)
163
Index by City
Houston Houston Houston Houston Houston Houston Houston Houston Las Vegas Las Vegas Las Vegas London London London London London London London London London London London London London London London London London London London London London London London London London London London London London London 24-25 Sep 26-27 Sep 27 Sep 16-18 Oct 22 Oct 23 Oct 24 Oct 13-15 Nov 5 Nov 6 Nov 7-8 Nov 23-24 Jan 25-26 Jan 3 Feb 13-14 Mar 28 May 29 May 30-31 May 11 Jun 12-13 Jun 25-26 Jun 27-28 Jun 29 Jun 9-13 Jul 10-11 Sep 10-13 Sep 12-13 Sep 14 Sep 17 Sep 17-21 Sep 18 Sep 19-20 Sep 24-26 Sep 16-18 Oct 23 Oct 24 Oct 5-6 Nov 19 Nov 19-21 Nov 20 Nov 21-22 Nov Energy Derivatives Markets, Instruments and Hedging (DPH1) Energy Derivatives Pricing, Hedging and Risk Management (DPH2) Overview of the North American Electric Power Industry (ET) North American Gas and Power Trading and Risk Management (NAGP) Front to Back Office- Trading Controls and Best Practices (FTBO) Compliance, Ethics and the Role of the Middle Office (FTBOII) Value-at-Risk: The Basics and Beyond (VAR) Oil Trading Orientation (OTO) Fundamentals of Energy Futures (FOEF) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Front to Back Office- Trading Controls and Best Practices (FTBO) Exploring European Natural Gas Markets (EEGM) Fundamentals of Energy Futures (FOEF) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Fundamentals of Oil, Petrochemicals and Gas Shipping (TD1) A Practical Understanding of Commercial Risks in Laytime and Demurrage (TDL) Energy Derivatives Markets, Instruments and Hedging (DPH1) Energy Derivatives Pricing, Hedging and Risk Management (DPH2) Trader Psychology The Discipline and Methods to Trading Success (TPS) The Synergies of Refining, Trading and Supply (TRR) Overview of Physical Crude Oil Trading and Operations (CT) International Oil Trading - A Practical Approach to the Legal Issues for Successful Management of Claims and Disputes (TRL) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Front to Back Office- Trading Controls and Best Practices (FTBO) LPG - Supply, Economics, Markets and International Trading (LP1) Value-at-Risk: The Basics and Beyond (VAR) Fundamentals of Technical Analysis (TA) Energy Value Chain (EVC) European Gas and Power Trading (EGPT) Options II - Options Pricing and Applications (OPA) Options III - Option Strategies (OS) A Disciplined Approach to Asset-based Trading in Oil Markets (ABT) Fundamentals of Energy Futures (FOEF) International Trading Operations Practice (TROP) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM)
164
Index by City
London London London London London London London Melbourne Melbourne Melbourne Melbourne Melbourne Melbourne Melbourne Mexico City Mexico City Mexico City New York New York New York New York New York New York New York New York New York Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford 26 Nov 27-28 Nov 29 Nov 3-4 Dec 3-7 Dec 5-6 Dec 10-12 Dec 28 May 29 May 30-31 May 18-20 Jun 16-17 Jul 18-19 Jul 20 Jul 25 Jun 26-27 Jun 28 Jun 7 May 8 May 9-10 May 18-19 Jun 20-21 Jun 22 Jun 4 Dec 5 Dec 6 Dec 27 Feb- 2 Mar 16-18 Apr 23-27 Apr 14-16 May 21-23 May 21-25 May 28 May- 1 Jun 11-12 Jun 13-15 Jun 25-27 Jun 2-6 Jul 2-6 Jul 16-20 Jul 3-7 Sep Overview of the European Natural Gas Industry (ENG) Exploring European Natural Gas Markets (EEGM) Overview of European Electric Power Markets (EEP) Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) The Synergies of Refining, Trading and Supply (TRR) Liquidity and Counterparty Risk Management (LCRM) Oil Trading Orientation (OTO) Fundamentals of Energy Futures (FOEF) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Oil Trading Orientation (OTO) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Overview of the Petroleum Industry (OPI) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Fundamentals of Energy Futures (FOEF) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Options I - Fundamentals of Energy Options (FOEO) Options II - Options Pricing and Applications (OPA) Options III - Option Strategies (OS) International Oil Supply, Transportation, Refining and Trading (SP1) Understanding the International Petrochemicals Business - Technology, Markets and Economics (CH0) International Oil Trading and Pricing (TR1) Gasoline and Diesel Fuel Technology (GDT1) The Olefins Business - Markets and Economics (CH6) Tanker Ownership, Chartering and Operations (TD2) The Use of Advanced Instruments in International Oil Price Risk Management (TR3) Introduction to the Downstream Oil Business (DOB) Downstream Sales & Marketing (DSM) Overview of the LNG Value Chain (LNG1) International Oil Supply, Transportation, Refining and Trading (SP1) International LNG Contracts - Commercial Factors and Negotiations (LNG5) Natural Gas in the Competitive Electricity Generation Market (NGPG) International Oil Supply, Transportation, Refining and Trading (SP1)
165
Index by City
Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Oxford Perth Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore 3-7 Sep 10-13 Sep 18-20 Sep 17-21 Sep 24-28 Sep 24-28 Sep 1-5 Oct 8-10 Oct 10-12 Oct 17-19 Oct 22-26 Oct 29 Oct- 1 Nov 29 Oct- 2 Nov 12-14 Nov 12-16 Nov 26-30 Nov 27-29 Nov 13-15 Jun 30-31 Jan 1-2 Feb 3 Feb 19-20 Mar 21-22 Mar 11-13 Apr 18-20 Apr 23-25 Apr 20-23 Jun 25-27 Jun 9-11 Jul 11-13 Jul 30 Jul- 2 Aug 17-18 Sep 18-20 Sep 19-20 Sep 21 Sep The Gas Chain Concept - Industry Structure, Economics, and Pricing (NG3) Introduction to Renewable Energy: Resources, Technology and Commercial Opportunity (REN) Aviation Fuels: Supply, Trading and Risk Management (AV1) International Gas Contracts - Commercial Factors and Negotiations (NG5) Total Risk Management in the International Oil and Derivatives Market (TRM) Tanker Ownership, Chartering and Operations (TD2) International Oil Trading and Pricing (TR1) Communicating and Negotiating Major Contracts in the Oil and Gas Industry (CNOG) Overview of Petrochemical Processes, Catalysts and Markets (PPCM) Overview of the LNG Value Chain (LNG1) Petrochemical Markets and Economics - The Impact of Feedstocks and Costs on Competitiveness and Business Strategy (CH1) International LPG Trading and Pricing - Supply, Shipping Contracts and Risk Management (LP2) Understanding the Global Lubricants Business - Regional Markets, Economic Issues and Profitability (LB1) The Aromatics Business - Markets and Economics (CH5) Lubricants Refining and Manufacturing (LB5) The Use of Advanced Instruments in International Oil Price Risk Management (TR3) LNG Shipping: The Centre of Global Gas Supplies - Harmonising the Upstream, Downstream and Mid Stream (TDLNG) Overview of the LNG Value Chain (LNG1) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB) Energy Derivatives Markets, Instruments and Hedging (DPH1) Energy Derivatives Pricing, Hedging and Risk Management (DPH2) Trading Operations Practice (TRSQ) Tanker Ownership, Chartering and Operations (TD2E) Tanker Ownership and Chartering - Advanced Strategies and Risk Management (TD4) Principles of International Oil Trading (TR0) International Oil Trading - Advanced Techniques and Strategic Price Risk Management (TR2) LPG Trading and Pricing - Shipping, Contracts and Price Risk Management (LP0) Understanding the International Petrochemicals Business - Technology, Markets and Economics (CH0) The Synergies of Refining, Trading and Supply (TRR) Overview of Physical Crude Oil Trading and Operations (CT) Overview of Petrochemical Processes, Catalysts and Markets (PPCM) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB)
166
Index by City
Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Stavanger Zug Zug Zug Zug Zug Zug 1-3 Oct 10-12 Oct 15-19 Oct 31 Oct- 3 Nov 5-7 Nov 26-27 Nov 28-29 Nov 3-5 Dec 19-21 Jun 25 Jun 26 Jun 27-28 Jun 3-4 Dec 5-6 Dec 7 Dec Overview of the LNG Value Chain (LNG1) LNG Shipping: The Centre of Global Gas Supplies - Harmonising the Upstream, Downstream and Mid Stream (TDLNG) International LNG Contracts - Commercial Factors and Negotiations (LNG5) Principles of International Oil Trading (TR0) International Oil Trading - Advanced Techniques and Strategic Price Risk Management (TR2) Advanced Energy Derivatives Pricing, Hedging and Risk Management (DPH3) Liquidity and Counterparty Risk Management (LCRM) Oil Trading Orientation (OTO) Oil Trading Orientation (OTO) Fundamentals of Energy Futures (FOEF) Options I - Fundamentals of Energy Options (FOEO) Energy Risk Management (ERM) Overview of Physical Crude Oil Trading and Operations (CT) Fundamentals of Petroleum Refining - A Non-Technical Introduction (FPR) Fundamentals of Refinery Economics and Blending (FREB)
167
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Registration Form
Mention this code CAT12 and receive up to 5% off*
Yes! Please register me for the following course(s):

Course Date Location Course Fee
r If you would like to take advantage of our residential package, please check here (applicable for courses offered in Oxford only)
Please note: All registrants are liable for course fees at time of registration. Upon submission of this registration you are obligated to the terms of our cancellation policy. Due to the popularity of our courses, all registrations are accepted on a first come, first served basis. Frequently our courses sell out; before registering, please check the schedule on our website or call for availability. In the event that a course sells out, full payment or credit card guarantee is required to reserve your seat. Please provide your credit card information on this form.
Name (Please print exactly as you would like it to appear on your certificate) Company Name Address City/State/Postal Zip Code Country
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The information provided on this form will be stored and used to keep you updated on future events. Occasionally we send information from carefully selected third parties who offer products or services we believe are of interest. If you DO NOT want to receive this type of information, please check here r
Circle one: Visa/MasterCard/AmEx

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(if paying by check, your credit card number will reserve your seat)
Check here if you require a Visa letter. Nationality:

For Canada and U.S.A.: invitation letters for visa applications are sent upon receipt of full payment of fee(s).
Register by Fax: Fax this form to USA +1 (609) 524-1120, UK +44 1865 254599 or Singapore +65 6337 7691 Cancellation Policy: Days Prior to Course Changes: Fee Charged* Cancellations: Fee Charged*** 91 days or more No charge 7.5% of course fee 41-90 days 7.5% of course fee 20% of course fee 40 days or less Delegate substitution ONLY** Nonrefundable * A course may be taken at a later date or substituted for a course of equal or greater value in accordance with the prorated schedule. ** If you are unable to attend a course, you are welcome to provide a delegate substitution, up to 24 hours prior to the course. *** In the event the course is cancelled entirely by The Oxford Princeton Programme, liability is limited to the refund of the course fee only. NOTE: Fees charged apply to fee (plus accommodation where applicable). r By checking this box I confirm that I have read the conditions outlined in the Cancellation Policy and that I agree and accept them. UK Government Value Added Tax (VAT) (for courses held in the UK only): VAT at the standard rate is 20%, will be charged on course fees to all companies and individuals in the UK and overseas. Where the supply is made to a foreign government in furtherance of its sovereign activity and evidence of this is provided, the fees for the training will be zero rated. Canadian Taxes (GST/QST) (for courses held in Canada only): GST - The goods and services tax (GST) is a 6% tax charged in Canada (except in Nova Scotia, New Brunswick, and Newfoundland and Labrador). QST - The Quebec sales tax (QST) is a 6.5% tax charged in the Province of Quebec in addition to GST. Singapore Taxes (GST) (for courses held in Singapore only): GST The goods and services tax (GST) is a 7% tax charged in Singapore. If paying by check or direct transfer, please contact us for complete banking details. Tel: +44 (0) 1865 250 521 (UK), +1 609 520 9099 (US) or +65 6837 8030 (Singapore) Important: Payment is due upon receipt of invoice. Please quote invoice number with payment. * Mention this code CAT12 and automatically receive a 5% discount on any instructor-led course. When registering 60 calendar days or more prior to the course date and receive up to 10% off the course fee (cannot be combined with any other discount from The Oxford Princeton Programme).
CAT12

2012 Global Course Offerings

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2012 Global Course Offerings

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World-Class Training for Energy Business Professionals

HARNESS THE ENERGY OF TRAINING

Guide to Course Icons

Postgraduate Diploma and Certification Programmes

Diploma in International Oil Supply and Trading

For Those Attending Courses in Oxford:

For Those Attending Courses other than in Oxford:

Certificate in Derivatives Pricing, Hedging and Risk Management

Business Analysis and Project Finance

Analyzing Energy Companies - A Practical Approach for Non-Finance Managers (AEC)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

Energy Sector Capital Investment: NEWC Project Management Orientation (PMO)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

Trading, Derivatives, Hedging and Risk Management

Futures Options Technical Analysis Derivatives Oil Trading Tanker Shipping

Fundamentals of Energy Futures (FOEF)

Who Should Attend

Course Icon Guide see page 6

and keeps you moving. It is not your typical classroom setting.

K.S., NRG Energy

Options I - Fundamentals of Energy Options (FOEO)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

Energy Risk Management (ERM)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

The instructors business

Options II - Options Pricing and Applications (OPA)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

good information Well presented.

Options III - Option Strategies (OS)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

Options IV - Exotic Options (EXO)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

European Gas and Power Trading (EGPT)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

Fundamentals of Natural Gas Basis Trading (NGBT)

What You Will Learn

Who Should Attend

Course Icon Guide see page 6

Excellent course, well taught, very relevant.

Fundamentals of Technical Analysis (TA)

What You Will Learn