COURSE OVERVIEW

This practical and highly-interactive course includes real-life case studies where participants will be engaged in a series of interactive small groups and class workshops.

This course is designed to provide participants with a detailed and up-to-date overview of Crude Economics. It covers the global crude oil industry, types and classifications of crude oil and market structures and pricing mechanisms; the factors influencing crude oil prices, term contracts versus spot deals, exchange-traded contracts, risk and hedging strategies and incoterms and contract logistics; the crude oil benchmarking and arbitrage, crude assay data and refinery configurations and complexity; the refining processes, product specifications and market values; and the crude valuation techniques and crude slate optimization.

Further, the course will also discuss the refining margins and economics, planning and scheduling interface and economic evaluation of crude alternatives; the linear programming models for crude economics and the tools and software in crude economics; the key performance indicators (KPIs), crude blending economics and storage and logistics economics; the supply chain risk, volatility management and swapping economics and motivations; the operational and quality considerations; and the contractual and commercial terms and regional case examples.

During this interactive course, participants will learn the environmental and regulatory considerations, disruption scenarios, sensitivity to price shocks, strategic reserves usage and contingency crude sourcing plans; the crude procurement strategy development covering annual sourcing strategy, contract structuring, price negotiations and timing and benchmarking performance; and the strategic long-term crude planning comprising of crude availability trends, emerging supply sources, impact of energy transition and integration with corporate planning.