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International Oil Supply, Transportation, Refining & Trade

An Interactive 5-Day Training Course

International Oil Supply, Transportation, Refining & Trade

Understanding the Risks & Opportunities and Maximizing Profits

NASBA
Classroom Schedule
Date Venue Fees
05 - 09 Oct 2026 Dubai $ 5,950
23 - 27 Nov 2026 London $ 5,950
04 - 08 Jan 2027 Dubai $ 5,950
Online Schedule
Date Venue Fees
04 - 08 Jan 2027 Online $ 3,950

Course Summary

This International Oil Supply, Transportation, Refining and Trade training course is designed to give participants a comprehensive picture of the international oil supply, transportation, refining and trade. Further, this Oil & Gas training course will include crude oil and refined markets, risks, legal and regulatory issues involved in the international trading of crude oil and refined products.

This training course on International Oil Supply, Transportation, Refining & Trade is presented with the wide range of essential practices of petroleum industry spanning, exploration, extraction, refining, and global oil supply, reserves, production & trade flows. With the overview of these essential upstream and midstream practices, the industry downstream operations dealing with crude oil and refined products trading and its associated risks and uncertainties can be fully understood. Since price volatility always exists, the Price Risk Management appropriate techniques are presented in detail. Sales, Marketing, Trading and Risk Management are crucial and also the most dynamic parts of the value chain, and extremely important for managers to stay on the top of these activities.

This GLOMACS training course will feature:

  • Essential success factors in exploration, production, and transportation of oil
  • Important elements of petroleum refining and its economics
  • Improving refinery economics and overall profitability of oil business
  • Focusing on strategic planning and tactics to reduce corporate risk
  • Logistics of international supply, transportation and storage of oil
  • Practical aspects crude oil sales, marketing and trading
Course Outline
Day 1

Essential Upstream Practices

  • Introduction to the Course
  • Introduction to How Oil was Formed
    • Origin, Accumulation And Migration of Petroleum
    • Essential Requirements For Hydrocarbon Accumulation
  • Fundamentals of Oil & Gas Geology and Petroleum Engineering
    • Introduction To Oil & Gas Geology
    • Simple Anticline Structural Trap
    • Barrier or Closure – Reservoir Traps - Reservoir Mapping
    • Oil & Gas Drilling Techniques
    • Types Of Drilling – Exploration, Delineation, Appraisal, Developmental, Maintain Potential Wells
    • Drilling Circulatory System – Safety And Environmental Impact
  • Well Logging and Well Completion
    • Tools and Techniques for Evaluating Oil & Gas Wells
    • Open and Cased Well Logs
    • Functions of Well Casing
    • Benefits of Horizontal Well over Vertical well - Multilateral Well Completions
  • Essence of International Oil Supply – Global Reserves, Production & Trade
    • Introduction to Global Oil Business - Exploration, Extraction, Refining, Marketing, Transportation
    • Global Oil Resources – World Oil and Gas Reserves, Production of Oil and Gas
    • Industry Units – for the USA, Europe and Asia, Conversion Factors
    • Crude Oil Classifications
    • Crude Oil Quality Indictors, Crude Oil Characterization by Assays
    • Crude Oil Distillation – Refined Products
    • Oil Industry Units and Conversion Factors
  • Fundamentals of Oil Economics
    • Delivered Price of Crude Oil – The Concept GPW (Gross Product Worth)
    • Net Refining Margin Calculation
    • Value of Crude Oil and the Determining Factors in Crude Selection
Day 2

Crude Oil Trading

  • The Evolution of International Oil Pricing System – The Big Picture
    • Introduction
    • Evolution of Crude Oil Pricing System
    • The Era of the Posted Price
    • The Pricing System Challenged by Independent Oil
    • The Emergence & Consolidation OPEC Administered Pricing System
    • The Changing Landscape for IOC’s / NOC’s
    • The Collapse of the OPEC Administered Pricing – Net Back Pricing
    • The Market-Related Oil Pricing System and Formulae Pricing
    • Spot Markets, Long Term Contracts and Formula Pricing
    • Benchmarks in Formulae Pricing
    • Oil Price Reporting Agencies and Price Discovery Process
    • The Brent Market and its Layers
    • The US Benchmarks
    • The Dubai-Oman Market
  • Trading Physical Crude Oil and its Logistics – Chap 2 CON
    • Trading Fundamentals and Trading Terminology
    • Impact of Production Sharing Contracts and its Components
      • Fiscal Tools
      • Cost Recovery Component
      • Profit Oil Component
      • Royalty and Tax
      • Tax Implications – Ring Fencing
      • Market Price
    • Joint Operating Agreements
    • Transportation Agreements
      • Tariffs
      • Value Adjustment Mechanism
      • Terminal Logistics
      • Floating Platform Storage Operations
    • Crude Oil Lifting Agreements
    • Marine Vessel Nomination
    • Physical Sales and Purchase Agreements
    • Freight Contracts
      • Freight Costs
      • Laytime
      • Demurrage
  • The Dissection of Crude Oil Price
    • First Component - the Absolute Price
    • What are Benchmark Crudes?
      • Brent
      • WTI
      • ASCI
      • Dubai / Oman
      • TAPIS
      • ESPO
    • Criteria for Ideal Benchmarks
    • The Regulation of Benchmark Crudes
    • Determination of Absolute Value of Crude
      • Forwards and Future
      • Brent Chains
      • Credit Security and Forward Market
    • The Futures Market and Absolute Value of Oil
      • Initial Margin
      • Variation Margin
      • Physical Delivery
      • Exchange for Physical Delivery
    • Hedging the Absolute Value of Crude Oil
      • Basic Hedging Theory
      • Practical Considerations
      • Dated Brent Risk Hedged with Forward Brent Contract
      • Floating Priced Hedging
    • Speculation
  • Oil Price Formula – The 2nd Component - Time Differential
    • Arbitrage
    • Swap - the “Contract for Difference”
    • What is the right time to set the price?
    • What goes on when two traders transact a deal?
    • CFD and the time value in Oil Price
    • Value Fixation
    • Floating Fixing or Hedging Value of Oil
    • Hedging and the Slope of the Forward  Oil Curve
    • The Term Contract Pricing of Oil
  • Oil Price Formula – The 3rd Component - Grade Differential
    • The Crude Oil Grade
    • The Crude Oil Quality
    • The Crude Discount
    • The Refining Assay
      • Paraffinic
      • Naphthenic
      • Refining Processes
    • The Gross Product Worth
    • Location and Freight
  • Price Risk Management - Hedging the Crude Oil Price
    • The Types of Risks
    • The Strategic Hedging
    • Operational Hedging
    • Risk Management Considerations
      • Correlations and Basis Risk
      • Tax Basis Risk
    • Choosing The Right Tools
      • The Company Risk Profile
      • The Company Risk Appetite
      • Market Price View
    • When to Close a Hedge
    • When Strategic Hedge Go Operational
    • Swaps
    • Options
      • Premium
      • Option Style
      • Option Strategy
      • The Zero Cost Collar
    • Option Valuation
    • Summary
Day 3

Refined Products Trading

  • The Trading Refined Products
    • Light Distillate
    • Middle Distillate
    • Fuel Oil
    • Other Products
    • Participants in Refined Products Trading
    • Arbitrage
    • The 24/7 Market
    • The Roll of Traders
    • The Importance of Location
    • Transportation and Operations
    • Pricing and the Netback War
    • Pricing Policies Latest Trends
    • Price Fixing
    • Storage
    • Types of Oil Products
    • Supply / Demand Balance
    • Production, Consumption and Refinery Capacity
    • Future Trends
    • Environmental Products
  • Refining I – Basics
    • Paraffin
    • Olefins
    • Napthenes
    • Aromatics
    • Catalysts
    • API and Sulfur
    • Acid
    • Salt
    • Water
    • Metals
    • Other
    • Separation
    • Treatment 
    • Upgrading Conversion
    • Gross Product Worth
    • GPW and Refiner Margin
    • Team Work
    • Simple Chemistry for Non-Chemists
    • Crude Oil Properties
    • The Crude Oil Assay
    • Basic Refining Processes 
    • Blending Refinery Economics
  • Refining II – Conventional Refinery Upgrading
    • Cat Cracking
    • Hydrocracking
    • Visbreaking
    • Coking  
  • Oil Products and their Qualities
    • Methane
    • Ethane
    • Propane
    • Butane
    • Naphtha
    • Gasoline
    • Kerosene
    • Gas Oil
    • Diesel
    • Lubes
    • Waxes
    • Bitumen
    • Coke / Carbon Black
    • Physical Oil Products and the Grade Value of  Crude
    • Quality
    • Petroleum Gases
    • Light Distillate
    • Middle Distillate
    • Fuel Oil
    • Straight Run Fuel
    • Cracked Fuel Oil
    • LSWR
    • Bunker Fuel Oil
    • Specialty Products
  • Oil Logistics and the Art of Trade
    • Shipping
    • Pipeline
    • Rail Car
    • Road Truck
    • Split Weekends
    • Counterparties
    • Grade / Quality
    • Quantity
    • Delivery
    • Price
    • Payment Clause
    • Irrevocable Documentary Letter of Credit
    • Standby Letter of Credit
    • Parent Company Guarantee
    • Open Credit
    • Dispute Resolution
    • Nominations
    • Vetting
    • Delivering Oil Products
    • Delivery Term 
    • Other Pricing Bases for Refined Products
    • Oil Contracts
    •  Storage 
  • The Price of Refined Oil Products
    • The Characteristics of Bench Marks
    • Choosing the Right Benchmark: Price Reporting Agencies
    • The Bid-Offer Spread
    • Regulatory Oversight
    • The Regulatory Investigation
    • Bulls and Bears
    • The Contango Arbitrage
    • History of Oil Prices and How the Benchmarks Evolved
    • The Components of the Oil Price
    • The Absolute Value of Products Price: the Role of Benchmark
    • The Time Differential Value of Product Price
    •  Trading the Time Spread: Contango without Getting Physical
    • The Value of Product Grade Differential
Day 4

The Risk Management

  • Oil Products Price Risk Management
  • Measuring Risk
    • Strategic Hedging
    • What is a Hedge?
    • What is a Hedge Loss?
    • Hedging and Speculation Compared
    • The Role of Risk Manager
    • Operational Hedging
    • The Long and the Short of It
    • Opening and Closing Hedges
    • Basis Risk
  • The Forward Market
  • The Future Market
  • The Swaps Market
  • The Options
    • The Size of the Premium
    • The Option Style
    • The Zero Cost Collar
  • Crack Spreads
Day 5

Legal and Regulatory

  • Legal and Regulatory Issues
    • Contractual
    • Regulatory
  • International
    • International Aspects of Oil Trading
    • Special Trade Terms
    • Standardization of Terms
    • International Sales of Goods
    • General Trade Laws
    • World Trade Organization
    • Financial Issues
    • Banks’s Role
    • Shipping Laws
    • Marine Insurance
    • Dispute Resolution
    • Impact of National Laws
    • US an UN Trade Sanctions
    • Sovereign Immunity
  • United States
    • Oil Trading in the US
    • General Commercial
    • Anti-Trust Legislation
    • Sovereign Immunity Act
    • Foreign Corrupt Practices Act
    • Commodity Trading Law
    • Specific Contracts
      • Futures & Options Contracts
      • Exchange of Futures for Physical (EFP)
      • Swaps
  • United Kingdom
    • Oil Trading in the UK
    • General Commercial Law
    • Competitive Law
    • Finance and Banking Law
    • Protection of Trading Interest Act
    • Financial Services Law
    • International Petroleum Exchange
  • Singapore
    • Oil Trading in Singapore
    • Singapore Exchange
  • Comparison with London and New York
  • Controlling Financial Risk
    • What is trading Risk?
    • Other Potential Sources of Loss
    • What are Characteristics of Energy Markets?
    • Determination of Risk
    • Operations
    • Conclusions
Certificates
  • On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates. Continuing Professional Education credits (CPE): In accordance with the standards of the National Registry of CPE Sponsors, one CPE credit is granted per 50 minutes of attendance.
Providers and Associations

Endorsed Education Provider

KHDA
NASBA

In Association With

Options & Brochure
Related Categories
Oil and Gas Refining

Why Choose Saudi GLOMACS?

Saudi GLOMACS is the official Saudi Arabian division of GLOMACS International (glomacs.com), delivering internationally recognised training courses both within Saudi Arabia and across international locations. Our training courses are aligned with the highest professional and institutional standards, supported by a strong understanding of the professional landscape in Saudi Arabia and access to global expertise.

Saudi GLOMACS enables professionals and organisations to strengthen leadership, capability, and long-term excellence through consistently high-quality learning experiences.

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Official Saudi Arabian division of GLOMACS with established global credibility.

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Internationally benchmarked training courses aligned with professional best practices.

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Training courses delivered within Saudi Arabia and across international locations.

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What Our Clients Say

Risk management is considered as one of the hardest topics but GLOMACS training course facilitator explained it in a very simple and effective way.

- Delagate
Frequently Asked Question

No. Saudi GLOMACS delivers courses in Saudi Arabia and internationally, including delivery across Europe and Asia. This allows organisations and professionals to access training both locally and abroad.

No. While governance and leadership are part of the portfolio, Saudi GLOMACS delivers training across the entire business and professional lifecycle, including administrative, technical, legal, regulatory, and sector-specific training.

Yes. Saudi GLOMACS designs and delivers bespoke in-house training tailored to organisational objectives, sector requirements, and workforce needs. Training can be delivered in Saudi Arabia or internationally, depending on requirements.

Courses delivered in Saudi Arabia are adapted to reflect local regulatory frameworks, organisational structures, sector conditions, and professional expectations. This ensures training is relevant, practical, and aligned with Saudi workplace realities.

GLOMACS has been delivering professional training for over thirty years, with courses delivered across Europe, the Middle East, Asia, and other international markets.

Saudi GLOMACS combines three decades of global training experience with a clear focus on Saudi market relevance. This allows it to deliver training that is both internationally credible and locally applicable, across a broader range of disciplines than niche or single-focus providers.

Saudi GLOMACS is a Saudi-based professional training provider delivering courses tailored to the Saudi market and applicable internationally. It operates within the global GLOMACS framework and draws on more than three decades of international training experience.

Saudi GLOMACS offers professional training across a wide range of disciplines, including administration, leadership and management, governance and regulation, law, oil and gas, energy, engineering, finance, digital technologies, and sector-specific specialisations.

Training supports professionals across all career stages, from operational roles to specialist and senior responsibilities.

Participants include professionals from public sector, semi-government, and private sector organisations, across a wide range of roles and industries. Attendees range from administrative and operational professionals to technical specialists, managers, and senior decision-makers.

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