An Intensive 5-day Training Course
International Oil Supply,
Transportation, Refining & Trade
Understanding the Risks & Opportunities and Maximizing Profits
Scheduled Dates
Classroom
| 06 - 10 Oct 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 24 - 28 Nov 2025 | London - UK | $5,950 | RESERVE A SEAT |
| 05 - 09 Jan 2026 | Dubai - UAE | $5,950 | RESERVE A SEAT |
Online
| 05 - 09 Jan 2026 | Online | $3,950 | RESERVE A SEAT |
Would an alternative date be more suitable?
We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.
Why Choose this Training Course?
This 5-Day accelerated PetroKnowledge course is designed to give participants a comprehensive picture of the international oil supply, transportation, refining and trade. Further, This Oil & Gas training course will include crude oil and refined markets, risks, legal and regulatory issues involved in the international trading of crude oil and refined products. The course is presented with the wide range of essential practices of petroleum industry spanning, exploration, extraction, refining; and global oil supply, reserves, production & trade flows. With the overview of these essential upstream and midstream practices, the industry downstream operations dealing with crude oil and refined products trading and its associated risks and uncertainties can be fully understood. Since price volatility always exists, the Price Risk Management appropriate techniques are presented in detail. Sales, Marketing, Trading and Risk Management are crucial and also the most dynamic parts of the value chain, and extremely important for managers to stay on the top of these activities.
This training course will feature:
- Essential success factors in exploration, production, and transportation of oil
- Important elements of petroleum refining and its economics
- Improving refinery economics and overall profitability of oil business
- Focusing on strategic planning and tactics to reduce corporate risk
- Logistics of international supply, transportation and storage of oil
- Practical aspects crude oil sales, marketing and trading
What are the Goals?
By the end of this training course, participants will be able to:
- Understand Upstream oil exploration, production & supply principles and practices
- Understand refining process, compute refinery gross and net margins
- Understand LP models, and develop crude oil selection criteria
- Apply petroleum economics, calculate financial benchmarks and prioritize projects
- Estimate costs, negotiate and compare physical deals and help write contracts for the sale of crude oil and refined products
- Use Worldscale reference to charter a ship and to calculate the profitability
- Understand the international markets, their risks and how prices are formed and disseminated
- Understand the hedging instruments, determine the price risk exposure and manage price risk.
- Acquire legal and regulatory issues relating to the International aspects of oil trading
Who is this Training Course for?
This training course is suitable to a wide range of professionals but will greatly benefit:
- Business Development managers
- Corporate Planning professionals
- Lawyers & law firms’ personnel
- Geoscientists & Engineers
- Refiners
- Bankers, accountants
- Auditors
- Members of Board and Senior Oil Executives
- Media personnel who interface with traders and trading
- Government regulators
- Tax & finance advisors
- Auditors
- Compliance officers
- Equity & Financial Analysts and Bankers
- Joint Venture officers
- Contract Negotiators
How will this Training Course be Presented?
This highly-interactive PetroKnowledge training course is designed to encourage delegate participation through a combination of short videos, group discussions, and business case studies designed to reinforce new knowledge and skills, and discussion of “real life” issues in their organizations.
It will be highly interactive, with opportunities to advance your opinions and ideas. Participation is encouraged in a supportive environment. To ensure the concepts introduced during the course are understood, they will be reinforced through a mix of learning methods, including lecture style presentation, simulations of oil fields, simulation of refineries and demo of real-time market price movements of crude.
The course will be presented with the use of PowerPoint slides and technical videos. This will be augmented by case studies and facilitated discussions, to engage the delegates and to encourage the exchange of ideas. Simulation, Market Buying & Selling Systems and Short videos will also be used to reinforce specific points and to relate the material to real-world experience.
Daily Agenda
Day One: Essential Upstream Practices
- Introduction to the course
- Introduction to how oil was formed
- Origin, Accumulation And Migration Of Petroleum
- Essential Requirements For Hydrocarbon Accumulation
- Fundamentals of Oil & Gas Geology and Petroleum Engineering
- Introduction To Oil & Gas Geology
- Simple Anticline Structural Trap
- Barrier or Closure – Reservoir Traps - Reservoir Mapping
- Oil & Gas Drilling Techniques
- Types Of Drilling – Exploration, Delineation, Appraisal, Developmental, Maintain Potential Wells
- Drilling Circulatory System – Safety And Environmental Impact
- Well Logging and Well Completion
- Tools and Techniques for Evaluating Oil & Gas Wells
- Open and Cased Well Logs
- Functions of Well Casing
- Benefits of Horizontal Well over Vertical well - Multilateral Well Completions
- Essence of International Oil Supply – Global Reserves, Production & Trade
- Introduction to global oil business - Exploration, Extraction, Refining, Marketing, Transportation
- Global Oil Resources – World Oil and Gas Reserves, Production of Oil and Gas
- Industry units – for the USA, Europe and Asia, Conversion factors
- Crude Oil Classifications
- Crude Oil Quality Indictors, crude oil characterization by Assays
- Crude Oil Distillation – Refined Products
- Oil Industry Units and Conversion factors
- Fundamentals of Oil Economics
- Delivered price of crude oil – the concept GPW (Gross Product Worth)
- Net Refining Margin calculation
- Value of Crude Oil and the Determining Factors in Crude Selection
Day Two: Crude Oil Trading
- The Evolution of International Oil Pricing System – The Big Picture
- Introduction
- Evolution of Crude Oil Pricing System
- The Era of the Posted Price
- The Pricing System Challenged by Independent Oil
- The Emergence & Consolidation OPEC Administered Pricing System
- The Changing Landscape for IOC’s/NOC’s
- The Collapse of the OPEC Administered Pricing – Net Back Pricing
- The Market-Related Oil Pricing System and Formulae Pricing
- Spot Markets, Long Term Contracts and Formula Pricing
- Benchmarks in Formulae Pricing
- Oil Price Reporting Agencies and Price Discovery Process
- The Brent Market and its Layers
- The US Benchmarks
- The Dubai-Oman Market
- Trading Physical Crude Oil and its Logistics – Chap 2 CON
- Trading Fundamentals and Trading Terminology
- Impact of Production Sharing Contracts and its components
- Fiscal Tools
- Cost Recovery Component
- Profit Oil Component
- Royalty and Tax
- Tax Implications – Ring Fencing
- Market Price
- Joint Operating Agreements
- Transportation Agreements
- Tariffs
- Value Adjustment Mechanism
- Terminal Logistics
- Floating Platform Storage Operations
- Crude Oil Lifting Agreements
- Marine Vessel Nomination
- Physical Sales and Purchase Agreements
- Freight Contracts
- Freight Costs
- Laytime
- Demurrage
- The Dissection of Crude Oil Price
- First Component - the Absolute Price
- What are Benchmark crudes
- Brent
- WTI
- ASCI
- Dubai/Oman
- TAPIS
- ESPO
- Criteria for Ideal Benchmarks
- The Regulation of Benchmark Crudes
- Determination of Absolute Value of Crude
- Forwards and Future
- Brent Chains
- Credit Security and Forward Market
- The Futures Market and Absolute Value of Oil
- Initial Margin
- Variation Margin
- Physical Delivery
- Exchange for Physical Delivery
- Hedging the Absolute Value of Crude Oil
- Basic Hedging Theory
- Practical Considerations
- Dated Brent Risk Hedged with Forward Brent Contract
- Floating Priced Hedging
- Speculation
- Oil Price Formula – The 2nd Component - Time Differential
- Arbitrage
- Swap - the “Contract for Difference”
- What is the right time to set the price?
- What goes on when two traders transact a deal?
- CFD and the time value in Oil Price
- Value Fixation
- Floating Fixing or Hedging value of Oil
- Hedging and the Slope of the Forward Oil Curve
- The Term Contract Pricing of Oil
- Oil Price Formula – The 3rd Component - Grade Differential
- The Crude Oil Grade
- The Crude Oil Quality
- The Crude Discount
- The Refining Assay
- Paraffinic
- Naphthenic
- Refining processes
- The Gross Product Worth
- Location and Freight
- Price Risk Management - Hedging the Crude Oil Price
- The Types of Risks
- The Strategic Hedging
- Operational Hedging
- Risk Management Considerations
- Correlations and Basis Rick
- Tax Basis Risk
- Choosing The Right Tools
- The Company Risk Profile
- The Company Risk Appetite
- Market Price View
- When to Close a Hedge
- When Strategic Hedge Go Operational
- Swaps
- Options
- Premium
- Option Style
- Option Strategy
- The Zero Cost Collar
- Option Valuation
- Summary
Day Three: Refined Products Trading
- The Trading Refined Products
- Light Distillate
- Middle Distillate
- Fuel Oil
- Other products
- Participants in Refined Products Trading
- Arbitrage
- The 24/7 Market
- The Roll of Traders
- The importance of Location
- Transportation and Operations
- Pricing and the Netback War
- Pricing Policies Latest Trends
- Price Fixing
- Storage
- Types of Oil Products
- Supply/Demand Balance
- Production, Consumption and Refinery Capacity
- Light Distillate
- Middle Distillate
- Fuel Oil
- Other products
- Future Trends
- Environmental Products
- Refining I – Basics
- Simple Chemistry for Non-Chemists
- Paraffin
- Olefins
- Napthenes
- Aromatics
- Catalysts
- Crude Oil Properties
- API and Sulfur
- Acid
- Salt
- Water
- Metals
- Other
- The Crude Oil Assay
- Basic Refining Processes
- Separation
- Treatment
- Upgrading Conversion
- Blending Refinery Economics
- Gross Product worth
- GPW and refiner Margin
- Team Work
- Simple Chemistry for Non-Chemists
- Refining II – Conventional Refinery Upgrading
- Cat Cracking
- Hydrocracking
- Visbreaking
- Coking
- Oil Products and their Qualities
- Physical Oil Products and the Grade Value of Crude
- Quality
- Petroleum Gases
- Methane
- Ethane
- Propane
- Butane
- Light Distillate
- Naphtha
- Gasoline
- Middle Distillate
- Kerosene
- Gas Oil
- Diesel
- Fuel Oil
- Straight Run Fuel
- Cracked Fuel Oil
- LSWR
- Bunker Fuel Oil
- Specialty Products
- Lubes
- Waxes
- Bitumen
- Coke/Carbon Black
- Oil Logistics and the Art of Trade
- Delivering Oil Products
- Shipping
- Pipeline
- Rail Car
- Road Truck
- Delivery Term
- Other Pricing Bases for Refined Products
- Oil Contracts
- Split Weekends
- Counterparties
- Grade/Quality
- Quantity
- Delivery
- Price
- Payment Clause
- Irrevocable Documentary Letter of Credit
- Standby Letter of Credit
- Parent Company Guarantee
- Open Credit
- Dispute Resolution
- Nominations
- Vetting
- Storage
- Delivering Oil Products
- The Price of Refined Oil Products
- History of Oil Prices and How the Benchmarks evolved
- The Components of the Oil Price
- The Absolute Value of Products Price: the Role of Benchmark
- The Characteristics of Bench Marks
- Choosing the Right Benchmark: Price Reporting Agencies
- The Bid-Offer Spread
- Regulatory Oversight?
- The Regulatory Investigation
- The Time Differential Value of Product Price
- Bulls and Bears
- The Contango Arbitrage
- Trading the Time Spread: Contango without Getting Physical
- The Value of Product Grade Differential
Day Four: The Risk Management
- Oil Products Price Risk Management
- Measuring Risk
- Strategic Hedging
- What is a Hedge
- What is a Hedge Loss
- Hedging and Speculation Compared
- The Role of Risk Manager
- Operational Hedging
- The Long and the Short of it
- Opening and Closing Hedges
- Basis Risk
- The Forward Market
- The Future Market
- The Swaps Market
- The Options
- The Size of the Premium
- The Option Style
- The Zero Cost Collar
- Crack Spreads
Day Five: Legal and Regulatory
- Legal and Regulatory Issues
- Contractual
- Regulatory
- International
- International Aspects of Oil Trading
- Special Trade Terms
- Standardization of Terms
- International Sales of Goods
- General Trade Laws
- World Trade Organization
- Financial Issues
- Banks’s Role
- Shipping Laws
- Marine Insurance
- Dispute Resolution
- Impact of National Laws
- US an UN Trade Sanctions
- Sovereign Immunity
- United States
- Oil Trading in the US
- General Commercial
- Anti-Trust Legislation
- Sovereign Immunity Act
- Foreign Corrupt Practices Act
- Commodity Trading Law
- Specific Contracts
- Futures & Options Contracts
- Exchange of Futures for Physical (EFP)
- Swaps
- United Kingdom
- Oil Trading in the UK
- General Commercial Law
- Competitive Law
- Finance and Banking Law
- Protection of Trading Interest Act
- Financial Services Law
- International Petroleum Exchange
- Singapore
- Oil Trading in Singapore
- Singapore Exchange
- Comparison with London and New York
- Controlling Financial Risk
- What is trading Risk?
- Other Potential Sources of Loss
- What are Characteristics of Energy Markets
- Determination of Risk
- Operations
- Conclusions
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
In Association With
Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to [email protected]
When should I expect to receive confirmation of registration?
Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to [email protected].
