The Energy Workshop - Oil & Gas Markets, Power Trading and Energy Supply Chain

Duration:
2 days
Location:
Prague, NH Hotel Prague
  • Global energy supply, demand and prices
  • Distinct characteristics of energy supply chains
  • Features and contrasts between physical and paper trading markets
  • Risks and opportunities in energy trading markets
  • The major trading centres and commodity exchanges
  • Transportation logistics, costs and tariffs; marine tankers, pipelines, rail, river and road
  • Key energy trading contract features
  • Terminology used in contracts
  • Price behaviour and forecasting
Course Description

This programme enables attendees to gain a deeper insight and understanding of the market dynamics in the energy supply chain. The key characteristics of this large and unique business are reviewed, analysed and discussed using current case studies in this highly participative course workshop

Who Should Attend?
  • Senior energy managers
  • Corporate planners
  • Risk managers
  • Investment bankers
  • Fund managers
  • Energy Investment analysts
  • Media analysts and commentators
  • Government agencies
Methodology

A combination of PowerPoint presentations with handout notes, short exercises and current case study reviews

09.00 - 09.15 Welcome and Introduction

The Energy Supply Chain: A review of factors affecting global energy markets

Session 1: Introduction and overview

  • Terminology
  • Energy acronyms, units and conversion factors
  • Crude oil characteristics and benchmarks
  • Natural gas; physical and chemical properties and energy variations
  • Power generation, primary energy sources, scale, efficiencies
  • Energy conversion exercise

Session 2: The 'state of play' in the global energy markets

  • The current and forecast energy mix in the global market
  • Supply-demand and pricing in the current energy markets
  • Key sources of oil, natural gas and coal
  • Key consumers; statistical analysis
  • Impact of renewable in current and future energy markets
  • The growth and future and of non-conventional petroleum; shale gas, coal bed methane, shale oil
  • Energy quiz

12.00 - 13.00 Lunch

Session 3: Energy geopolitics and risk assessments

  • Energy security and diversity
  • Historic precedents of global and regional energy disruption and learning outcomes
  • Assessing and grading political risk
  • Energy risk mitigation strategies
  • The role and influence of OPEC on supply and pricing

Session 4: What drives energy markets?

  • Factors affecting energy commodity prices
  • Price volatility and key drivers for continuing uncertainty
  • Climate change influences and their effects on energy markets
  • Case study; carbon trading in Europe; EU-ETS
  • Market sector growth patterns
  • The future of price correlation between crude oil, oil products and natural gas?

Session 5: Future energy trends to 2040

  • Review of various energy prediction studies; IEA, EIA, Shell, BP, ExxonMobil
  • Possible scenarios
  • Key consensus on predictions and outcomes

Day Two

Trading in Energy Markets

Session 6: Energy Trading Fundamentals

  • The physical markets; spot and term
  • The paper markets; futures, forwards OTC, swaps and options
  • The role of petroleum commodity exchanges; ICE, Nymex, CME, DME, Simex
  • Market signals
  • Price reporting and market transparency
  • Reducing risk and exploiting opportunity; hedging instruments and arbitrage
  • The forward price curve; backwardation and contango
  • Exercise: develop a jet fuel purchasing strategy for an airline

Session 7: Trading characteristics for crude oil, refined products and natural gas

  • Crude oil quality and benchmarks; pricing and differentials
    Case Study: Brent spot crude sales to a Rotterdam refinery

  • Refined products

    • Specification and location
    • Commodities; gasoline, diesel, jet fuel and fuel oils
  • Distinct characteristics of natural gas
    • Evolution of gas markets from local to global
    • Correlation with crude oil prices
    • Transportation; pipelines and LNG
    • Market opening and liberalisation
    • Market hubs
  • Coal markets
    • Rank, location and pricing
    • Coal to power; future trends
    • Carbon emissions, impurities and CCS initiatives

12.00 - 13.00 Lunch

Session 8: Energy Transportation logistics

  • Transportation and International Commercial Terms (Incoterms)
  • Netback pricing
  • Crude and LNG carriers, pipelines
    Exercise: optimise crude transportation from the Arabian Gulf to the U.S Gulf coast

Session 9: Power Generation and Trading

  • Power generation fundamentals
  • Why power trading?
  • Power trading terminology
  • Logistics of power trading

Session 10: Workshop wrap-up and key takeaways

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