Trading and Risk Management for Crude oil and Refined Products
Effective techniques in maximizing trading profits and minimizing risks
24-25 May 2017 | Singapore
Workshop overview
This 1.5-day seminar is clearly structured to cover the instruments and market characteristics
in depth, addressing the specifics of modelling energy products and the risk management
applications of these instruments.
Risks are defined in the context of energy markets including main approaches to estimating and
calculating value-at-risk.
The practical case studies will ensure you discuss areas of concern that might arise from your
day-to-day work and enable you to put into practice any theory discussed.
Who should attend
Trading analysts, traders, trading managers, risk managers, portfolio managers, risk consultants
from trading houses, financial institutions, exchanges, refineries, etc.
Course schedule
Day 1
Day 2
13:45-14:00 Registration
09:00-10:45 Session 3
14:00-15:30 Session 1
10:45-11:00 Refreshment Session
15:30-15:45 Refreshment Session
11:00-12:30 Session 4
15:45-17:30 Session 2
12:30-14:00 Lunch
14:00-15:30 Session 5
15:30-15:45 Refreshment Session
15:45-17:30 Session 6
Course outline
REFINED PRODUCTS MARKETS AND INSTRUMENTS: PHYSICAL AND FINANCIAL
TRADING
• Overview of the global refined products markets
• Trading crack spreads, refineries as derivatives
• Forwards, swaps, basis swaps, options, strips of options, Asian options, crack spread
options
STRATEGIC AND TACTICAL ISSUES AROUND HEDGING WITH ENERGY DERIVATIVES
• Understanding operations and entity-wide objectives
• Close out value - liquidity measures in OTC markets
• Evaluating the use of derivatives to control market risk and linking use to entity-wide and
activity-level objectives (the risk matrix)
HEDGING USING ENERGY FUTURES, FORWARDS, SWAPS
• Hedging with futures.
• Buyers and sellers long or short?
• Hedging with forward and swaps
• Energy swaps and exotic swaps – Learning for the forward curve
Petroleum
illuminating the markets
Market Reporting
Consulting
Events
Trading and Risk Management for Crude oil and Refined Products
HEDGING AND SPECULATION USING ENERGY OPTIONS
• Review of options types
• Understanding option payoffs
RISK MANAGEMENT
• Understanding and interpreting risk measures, VaR
• Overview of methodologies
STRESS TESTS IN ENERGY MARKETS
• Stress tests as a complementary tool to VaR and other market risk measures Types of stress
tests and main applications
• Integrating liquidity, credit and operational risk in the formal risk management process
TECHNICAL ANALYSIS AND OTHER TOOLS TO OPTIMIZE TRADING DECISIONS
• Technical analysis and key tools that can help you in the market
• Advanced analysis for timing in OTC swaps markets - linked to Platts/Argus pricing
• Key fundamentals
SELECTED TRADING STRATEGIES IN OIL FUTURES & SWAPS MARKETS
• Crude oil arbitrages
• Crude oil spreads
• Product spreads
• Product arbitrages
Trainer
Fee Table
Samuel Owen
Samuel Owen has 30 years of experience in oil trading operations, chartering
and physical oil trading in various companies including Phibro, Caltex,
Chevron, ENOC and RWE. A chemical engineer by training, he started his career
at the Shell refinery in Singapore. He has a wide breadth of knowledge and
experience in the oil industry, ranging from leading multinationals’ oil trading
desks to establishing effective risk management systems to developing and
analysing oil trading business plans and risks. In the past few years, he has also been involved in
the renewable energy space, mainly developing biomass trading and carbon emissions in Asia for
RWE.
Early Bird (30 April) Standard
Conference Only
USD1600
USD1800
Training Only USD1699
USD1899
Conf & Training
USD3299 USD2499
USD3799 USD2999
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