Course Description
PVM Smart Learning have worked with renowned expert, Tony Yates, in developing the most comprehensive and interactive two day oil trading operations course available. Effective operations are vital to success in an oil supply and trading business and this course covers those areas with which an Operator needs to be familiar. Delegates will explore the responsibilities needed to handle all aspects of oil trading operations and will gain an understanding as to how they can protect and enhance the value of trades. Throughout the course participants will engage in the movement of crude and product cargoes across regions and experience a mix of interactive team work along with presentations focusing on the key elements of the Trading/Cargo Operator's role. Tony brings his strong leadership and technical and operational experience, gained in his previous role as Head of Operations for BP Supply and Trading, to deliver the essential oil trading operations course. Delegates will also gain insight into an Operator's value from a trading perspective, and be able to discuss a range of commercial issues with experienced practitioners.
Who should attend this course
The course is aimed at all front, middle and back office staff who are involved with physical trades. These are likely to include: new operators with up to 2 years experience, aspiring operators, risk managers and controllers, contract/legal or para-legal staff, financial and accounting staff, charterers, staff working at refineries and storage facilities, terminal project developers, derivative traders moving into physical trading roles, or any trader wishing to gain a greater operational understanding.
What you will learn
By the end of this course you will have:
- Learned the fundamentals of an Operator's role and the skills and competencies required for success
- Determined the financial impact of operations on individual trades and the company's overall results
- Understood the impact that operations has on risk and reputation
- Developed an understanding of the importance of processes and procedures
- Grasped the current changes to legislation taking place in the industry that will impact on the operations sphere
- Developed an insight into future career paths within operations
Realistic Simulations
Throughout the course each delegate’s learning is reinforced by utilising one of our specially developed computer based simulators.
Our unique world class simulated trading and operations environments allow both individuals and teams to practically apply the knowledge gained from each lecture instantly.
All the simulations are based on realistic market scenarios and updated continuously.
Course Content
The Operator's Role and Responsibilities
An introduction to an Operator's role and responsibilities within the trading organisation.
A Trader's View
What makes a good Operator through the eyes of a Trader? How to develop this critical symbiotic relationship.
Contract Formation, INCO Terms and Documentation
Understanding oil contract formation and the part the operator plays, examining the INCO terms as used by the industry and reviewing the essential documents used in cargo transactions.
Ship Knowledge
Gain a greater understanding of tankers and their operational capabilities and limitations.
Cargo Voyage
Learn to appraise a cargo voyage and recognise what can go wrong, ensuring preventative measures are put in place during loading, carriage and discharge.
Cargo Loss and Reconciliation
How cargo loss can be minimised in volume and frequency; the essential steps from pre-loading to post discharge.
Demurrage
The role an Operator has to play in controlling and reducing demurrage costs and supporting effective claim recovery.
Chartering, Ship Vetting and Port Clearance
A clear guide to vessel selection and the vetting process, including the calculation and provisioning of freight costs.
Loading Operations
Learn to specify and manage cargo loading operations in a thorough and accurate manner.
Cargo Quality, Sampling and Analysis
Understand the impact of maintaining cargo quality, and the correct sampling and analysis procedures.
Letters of Credit
A clear understanding of Documentary and Stand-by Letters of Credit, including the crucial role an Operator plays to ensure payment performance.
Discharge Operations
A clear and concise view of how to conduct and operate cargo discharge operations, including final cargo voyage reconciliation.
