Learn how to deal with the continuously changing market environment of the international oil trade.
Are you interested in the oil trade or is knowledge of oil markets essential for your function? Than this training will offer you support in the continuously changing market environment of the international oil trade. During this course PJK International will familiarize you with the most important topics applicable to the oil industry.
Themes that will be covered are the Northwest European market structure, Refining Economics, Risk Management, Barge Economics, Oil prices, Oil Futures Contracts, Arbitrage and Spread Trading.
The two-day training is led by Patrick Kulsen who, in addition of being PJK International’s Managing Director, works as an oil market consultant. He has a background in Financial Econometrics and has conducted multiple market research projects especially in price formation of oil futures contracts.
After completion of this training the participants will receive a certificate of participation and all the course material in a convenient handout.
A full program outline is provided in the contents section.
Module 1: Overview of the NWE / ARA region
-Introduction NWE/ARA market structure
Module 2: Refining economics
-Chemistry of oil
-Installation and configuration of refineries
-Profit margins of refineries
Module 3: Risk management
-Derivatives and hedging
-Hedging in NWE crude markets
-Hedging in ARA product markets
Module 4: Tanker barge economics
-Transport modalities in NWE
-Introduction barge market
-Barge market structure
-Barge freight rates
Module 5: Oil prices – dynamics, relation and impact
-Features of oil prices
-Relation between oil prices
-Oil futures contracts
Module 6: Oil futures forward curves
-Features of forward curves
-Relation between stocks and forward curves
-Development of ICE Brent & gasoil forward curves
Module 7: Arbitrage and spread trading
-Arbitrage between trading hubs
-Storage arbitrage strategy
Module 8: Oil trade case study
-Connection theory to practise
This program is for reference only and subject to change without prior notice.
What you will learn:
-Structure of the market
-Relation of the physical and futures market
-Insights in price formation
This training is designed for anyone who directly or indirectly is engaged in the oil trade.
That means that this training is applicable for people in business management functions but also young professionals.
No specific prior education is required.
This course is a two-day in-house training provided at your business premises anywhere in the world, for between 3 and 12 people on dates to suit your needs.
After an in-company training we assist our clients to put together an actionable plan.
The course is provided by our partner Insights Global from Breda, The Netherlands.
Patrick Kulsen is managing director at PJK International and Downstream/PortStorage Group, collectively belonging to the Insights Global brand. For clients which are active in oil trading, oil products/chemicals distribution and tank storage, Patrick heads market research and consultancy projects. Recent projects focused mainly on market and commercial Due Diligence of tank terminal assets up for sale. Patrick has degrees in Quantitative Finance (MSc.), Industrial Engineering (MSc.) and Mechanical Engineering (B).
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