Trading Operations Practice

Trading Operations Practice is a three-day instructor-led course presented by the energy training experts at Mennta Energy Solutions. This course provides the detailed practices and techniques involved in 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 operations best practice and emphasises the factors which have impact on corporate profitability and risk. It will also appeal to personnel who have recently joined a trading group of an oil company, 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, and the formation of a contract and moves on to the elements flowing from this that require operations management, including chartering, nomination, documentation and claims.

Each area is discussed in detail and topics such the relevant quality and specifications of actively traded product groups, the logistics of managing pipeline and storage deals and appointment of inspectors are also covered.

The course also highlights critical areas of exposure in oil trading operations and ways to avoid or mitigate problems.

Course topics include:

• The progress of a trade
• Basic terminology of tankers and freight
• Key operational clauses in a contract and areas of exposure
• Price reporting and pricing clauses
• Chartering processes and shipping operations
• Nomination procedures
• Overview of refining and quality
• Blending operations
• Laytime and demurrage
• Documentation instructions
• Managing letters of credit
• Pipeline and storage deal operations
• Measurement of quantity and quality
• Cargo insurance, losses & mitigation