Level 7 Extended Diploma in Oil and Gas Management

Transcription

1 Level 7 Extended Diploma in Oil and Gas Management Mandatory Units AVA 2015 Unit Title Level Credit GLH 7.1 Strategic Resource Management Petroleum Energy, Economics and Finance in Oil and Gas Logistics and Operation Management Project Management Research Project Optional Units (Learner must choose 1 Unit from the group below) 7.6 Innovation & Risk Management Planning and Economics of Refinery Operations Business Strategy Risk Management in Oil and Gas Portfolio Management of Oil and Gas Assets Strategic Planning Investment Analysis and Decision Making in the Petroleum Industry Trading Oil in International Markets

2 7.1 Strategic Resource Management To explore the mechanisms for resource management to achieve the aims of the organisation, this unit also investigates the strategic importance of resources and decision making. To understand the roles and strategies used in acquiring, managing, and developing human, physical and technological assets. To understand the importance of marketing/human resources in achieving business aims and objectives, and the roles, strategies and processes used to manage the marketing/human resource function. This unit explores how organisation and management theories support the practical analysis and design of organisations. The unit also investigates the strategic importance of organisational change. It examines the factors that promote and limit the achievement of change objectives for the dynamic environment within which organisations operate. Unit Level 7 Credit Value 25 GLH 100 Unit Grading Structure Fail/Pass/Merit/Distinction. Learning Outcomes - The learner will: Assessment Criteria - The learner can: 1 Understand the role of human resource management in supporting business strategy 1.1 Compare and contrast different organisational structures and culture 1.2 Investigate how human resource management contributes to the achievement of organisational objectives. 1.3 Critically evaluate the role of human resource management within an organisation 1.4 How an organisation plans their human resource needs Understand a range of classical and contemporary models, concepts and tools in business strategy and planning Understand the processes by which organisations identify and develop their goals and values Understand the impact of political, economic, social, technological, environmental and legal factors on an organisation Understand the key forces that represent both opportunities and threats to organisations whether for profit or not for profit 2.1 Analyse how organisational theory underpins principles and practices of organising and of management 2.2 Compare the different approaches to management and theories of organisation used by two organisations 3.1 Discuss different leadership styles and the effectiveness of these leadership approaches 3.2 Explain the different motivational theories and their application within the workplace 3.3 Assess the relationship between motivation theory and the practice of management 4.1 Describe the nature of groups and group behaviour within organisations 4.2 Investigate the factors that lead to effective teamwork and the influences that threaten success 4.3 Evaluate the impact of technology on team functioning within a given organisation 5.1 Evaluate the purpose and attributes of SWOT analysis 5.2 Appraise techniques to identify the sources of competition to organisations, such as Porter s Five Forces analysis 5.3 Critically evaluate the turbulence of environmental change and

3 the impact on strategic dynamics

4 7.2 Petroleum Energy, Economics and Finance in Oil and Gas This unit demonstrates the importance of economics and finance in oil and gas with respect to petroleum energy. Once finance is placed in context, the unit covers financial reporting and the way financial performance is measured. This unit also gives in-depth knowledge in economics and financial aspects of oil and gas. It is aimed at producing internationally minded professionals able to take up positions requiring multidisciplinary skills. It explains how the financial management of each organisation is influenced by its governance and ownership structure as well as accounting standards and the ethical basis on which financial reporting is organised. Candidates who aspire to understand what petroleum energy is and also able to explore sound knowledge of oil and gas will also develop financial knowledge and understanding needed. Unit Level 7 Credit Value 25 GLH 100 Unit Grading Structure Pass Learning Outcomes - The learner will: Assessment Criteria - The learner can: 1 Understand the accounting know how to use financial statements to evaluate performance, and appreciate the limitations of such analysis in P&E Industry 1.1 Identify, calculate and interpret key performance ratios from an organisation s financial statements 1.2 Discuss the limitations of financial statements and consider the impact of these limitations to the analysis 1.3 Use financial statements and other published financial data to evaluate comparative performance 2 3 Understand the Analytical skills in order to understand the implications of corporate financing decisions and theoretical under pinning of corporate finance theory in oil and gas Understand the accounting entries required for the different phases of the activities of international oil and gas exploration and production companies 4 Understand economics and finance principals to examine key issues in the petroleum and petroleum and energy industry, issues examined include an analysis of the world petroleum market, hostelling model and oil price behaviour, the role of OPEC plus global warming and 2.1 Evaluate the different methodologies and approaches to costing products, services, functions and activities 2.2 Use marginal cost methodology to support short term decision making 2.3 Critically analyse the role and limitations of traditional budgets and approaches to driving value through better budgeting 3.1 Appraise the role of activity based management, and use activity based costing method to support reengineering, product costing, budgeting and benchmarking 3.2 Use cost management methodology to support lean enterprise, business excellence and value chain analysis 3.3 Prepare and present strategic management accounting information to analyse investment in advanced manufacturing technology and support competitive strategy 4.1 Appraise the impact of resource decisions on an organisation s performance and effectiveness 4.2 Identify and map the processes and activities of an organisation and use these to improve resource allocation 4.3 Evaluate the use of benchmarking an organisation s products, processes and practices to identify opportunities to deliver value

5 renewable policy 5 Further Understanding of economics to key issues in the energy and petroleum sector for example: petroleum policies, economic rent, licensing and carbon capture and storage. Understand and critically discuss 6 the issues arising in setting an international accounting standard for the oil and gas industry. 7 Analyse and critically comment on the published financial statements of international oil and gas exploration and production companies. 8 Understand the organization risk, evaluating these risks and utilizing management reports on risks. 5.1 Debate the tensions between financial and strategic objectives 5.2 Identify and evaluate alternative sources of finance available to organisations 5.3 Appraise the role of treasury management in the financing, risk and control of liquidity 6.1 Appraise capital investment projects, using alternative methodologies 6.2 Calculate an organisation s cost of capital and explain the limitations of such calculations 6.3 Evaluate strategic investment opportunities and financially appraise strategic proposals 7.1 Identify the financial risks of operating in an international market 7.2 Appraise international investment decisions 7.3 Evaluate financing options for multinationals and overseas subsidiaries 8.1 Use appropriate techniques for evaluating and managing an organisation s risk 8.2 Prepare and utilise risk management reports

6 7.3 Logistics and Operation Management This unit equips learners with the skills to apply significantly based techniques to work-related problems. Learners learn to apply skills in business forecasting, quantitative and heuristic problem-solving, logistics, quality management, and to develop decision support, scheduling and control systems. The unit enables the learner to develop an in-depth study of logistics and Operations management. Learners who aspire to work effectively in oil and gas industry to lead teams will develop knowledge, understanding and skills to fulfil these aspirations. Unit Level 7 Credit Value 25 GLH 100 Unit Grading Structure Pass Learning Outcomes - The learner will: Assessment Criteria - The learner can: 1 Understand the detailed understanding of logistics within the E&P sector of the oil and gas to apply tools, techniques and methodologies applicable to logistics and operations Management. 2 Critically analyse the effectiveness of the key elements of operations management across a range of logistics 3 Examine the full cycle of logistics from procurement and inventory management, to storage and care of the wide range of materials required for complex operations 1.1 Evaluate the logistics strategies 1.2 Critically assess ways of integrating and applying skills and knowledge acquired to understand the problems involved in logistics operations 1.3 Critical appraisal of the relationship between theory and practice and extend their capacity for analysis and logical Inference. 1.4 Examine a comprehensive and systematic understanding of logistics techniques and methodologies applicable to logistics and operation management 1.5 Estimate and evaluate the importance of ethical judgments in strategic project decision made in logistics & operations management 1.6 Critically evaluate the importance of quality of operation management and services 2.1 Identify the key elements of logistics and their effectiveness in maintaining balanced team 2.2 Evaluate the best options available in each of the forgoing applications of operations management. 2.3 Explore issues in performance management and measurement and establishing operations performance objectives and the trade-off decisions made. 3.1 Define Inventory; Identify Inventory Costs, demonstrate an understanding Inventory Management Systems 3.2 Examine the storage system for the protection of goods 4 Analyse the impact of global trade complexities and management issues, investigating within the field of oil and gas industry the 4.1 Operations management is concerned with the design, management, and improvement of the systems that create the organisation's goods or services. 4.2 Compare theories of leadership

7 management behaviour regarding the operations 4.3 Assess the link between motivation and leadership 4.4 Evaluate strategies for measuring employee engagement 7.4 Project Management This unit is able to evaluate the success or failure of projects and reflectively analyse and learn from Projects of the future. To be able to manage, monitor and control a project, including project planning, project and team management, change management and conflict resolution. Unit Level 7 Credit Value 25 GLH 100 Unit Grading Structure Pass Learning Outcomes - The learner Assessment Criteria - The learner can: will: Be able to analyse business 1.1 Identify Projects from the pool of projects. 1 objectives to identify 1.2 Assess the feasibility of a proposed project feasible projects in gas and oil 1.3 Make an estimation of time, resources and costs on the Project. 1.4 Evaluate a project methodology suitable for the specific project Be able to design systems and plans for initiating, managing and controlling projects Understand the role of organisational management of a project with special relevance to project architecture, detailed planning and execution Be able to monitor and control the progress of the project 2.1 Analyse the key influences on the development and implementation of corporate governance in the UK 2.2 Project identification and design. 2.3 Project set-up and Planning. 2.4 Define the roles and responsibilities of the project manager. 3.1 Identify the key purpose and responsibilities of the board of directors 3.2 Develop detailed planning and execution. 3.3 Assess the impact of good corporate governance on corporate performance 3.4 Examine different types of board structure 4.1 Identify the differences between Scope Management and Risk Management. 4.2 Evaluate/explain Project Resource/Justification Management. 4.3 Understand the role of institutional investors and Financial backing in the progress of the project. 4.4 Analyse current situation, Identify issues and find solutions, Discover trends and patterns, Keep project activities on schedule

8 5 Be able to review, evaluate and close out a project Project actual progress checked continuously with the standard set. Make decisions about human, financial and material resources To review the completed project and evaluate its effectiveness. Use this practical framework to guide you through the Review and evaluation stage, helping you to ensure that current and future projects will be a success.

9 7.5 Research Project This unit examines research philosophies, paradigms and approaches, and investigates how these are relevant to business research. Candidates are required to write a business project report which pulls together information from several functional areas, thus supporting candidates in developing a holistic approach to business. Candidates should become familiar with the elements of formal research and apply these in the context of their own project. This unit supports candidates to complete research and report writing assignments and projects in their present or future job roles. Unit Level 7 Credit Value 25 GLH 100 Unit Grading Structure Pass Learning Outcomes - The Assessment Criteria - The learner can: learner will: 1 Understand research philosophies and approaches relevant to business research 2 Understand how to plan project reports 1.1 Evaluate research philosophies and assess their relevance to business research 1.2 Evaluate the main research paradigms and assess their relevance to business research 1.3 Select and justify own research philosophy 1.4 Evaluate and select research approaches 2.1 Select a topic for a project report 2.2 Apply appropriate research approaches and strategies 2.3 Conduct literature reviews 2.4 Formulate research questions, objectives and hypothesis 2.5 Write project specifications 3 Be able to conduct research for project reports 4 Understand how to evaluate research outcomes 5 Be able to present project reports 3.1 Conduct research in accordance with project specifications, taking into consideration the relevant ethical issues 4.1 Analyse and evaluate research outcomes against project specifications 5.1 Structure and write up project reports 5.2 Use clear and correct language and style which is appropriate for the intended audience

10 7.6 Innovation and Risk Management To develop an understanding of the importance of managing equality and diversity within the organisation. To develop the skills/ approaches to Innovation and Risk Management. Risk management forms a key part of many business activities and this course will help you successfully manage risk in your organisation. The course will take through the practical risk management process. Unit Level 6 Credit Value 15 GLH 60 Unit Grading Structure Pass Assessment is by internal assignment verified by BAA Learning Outcomes - The learner will: Assessment Criteria - The learner can: 1 Understand the importance of effectively managing equality and diversity 2 Understand the risk management function in business and how risk is assessed and managed. 1.1 Analyse the legal requirements relating to equality within the organisation and in the organisation s relationships with others 1.2 Evaluate the implications of guidance and codes of practice relating to equality and diversity in specific industry sectors 1.3 Analyse the implications of equality and diversity for the organisation 1.4 Analyse the needs and expectations of stakeholders in relation to an organisation s policy on equality and diversity 2.1 Examine the role of the risk management function in business 2.2 Assess the role of business functions in the management of risk. 2.3 Assess the role of business functions in the management of risk 2.4 Evaluate approaches to managing risk 2.5 Examine the risk management process 3 Understand the effects of Organisational risks and how they can be managed 3.1 Appraise the impact of different types of risk for a business organization. How different types of risks can be managed. 4. Understand approaches to crisis management and continuity planning. 3.2 How different types of risks can be managed Understand approaches to crisis 4.1 management and continuity planning. 4.2 Critically evaluate approaches to crisis management and organisational continuity planning.

11 7.7 Planning and Economics of Refinery Operations Enable delegates to understand the essential elements of refinery operations and investment economics, to review the various parameters which affect refinery profitability and to develop a working knowledge of the management tools used in the refining industry. Unit 6 Credit Value 15 Level GLH 60 Unit Grading Structure Pass Learning Outcomes - The learner Assessment Criteria - The learner can: will: Knowledge to assess the latest trends in product specifications, process unit yields and refining schemes Understand how to calculate product value, refinery margins and process unit margins, how costs and margins compare. How to simulate refinery operations and product blending and how to Optimise refinery operations, crude oil selection and product manufacturing. Scheduling of refinery operations. 1.1 Review of petroleum products applications, characteristics and specifications. 1.2 Main refining process units 1.3 Refining schemes and basic economics of the various process units 2.1 Explain Crude oil, product markets and prices, analyse refining costs. 2.2 Calculate refining Margins and how refining Margin has developed. 3.1 Simulation of product manufacturing using spreadsheets Analyse the main constraints affecting product Manufacturing. 3.2 Basic k owledge of Li ear Progra i g LP, The Simplex method Simplified example of refinery modernisation and analysis of an LP solution material balance, marginal costs, opportunity costs, incentives to construction. 3.3 Analyse using sensitivity method. 4.1 Review of scheduling problems, Control of results and practical application in a refinery 5. Construction of a new process Unit 6. How to improve refinery profitability. 5.1 Use basics of profitability analysis and economic evaluation. 5.2 Case study: construction of a new isomerisation unit simulation of material balance cash flow calculation investment and cost Internal Rate of Return 6.1 Future of the refining industry forecast development of oil Consumption and environmental constraints. Impact on refining economics.

12 6.2 How to schedule refinery operations from the monthly plan to daily operations and to evaluate the profitability of a new process unit. 7.8 Business Strategy This unit explores how organisation and management theories support the practical analysis and design of organisations. The unit also investigates the strategic importance of organisational change. It examines the factors that promote and limit the achievement of change objectives for the dynamic environment within which organisations operate. Candidates who aspire to positions involving change management, organisational analysis and design will develop knowledge, understanding and skills necessary for such job roles. It investigates how strategic analysis lays the foundations for strategy formulation and how strategy is implemented through organisational structures and processes. Candidates will understand the general, competitive and internal organisational environments. The unit also investigates the role of administrative management in strategy formulation and implementation and deals with different approaches to strategic change. Candidates who aspire to management positions involving strategic analysis, strategy formulation and implementation will develop knowledge, understanding and skills necessary for such job roles. Unit Level 7 Credit Value 15 GLH 60 Unit Grading Pass Structure Learning Outcomes - The learner Assessment Criteria - The learner can: will: 1 Understand the nature, scope and need for strategy of Business and planning in international oil and gas sector for profit 2 Understand a range of classical and contemporary models, concepts and tools in business strategy and planning 3 Understand the processes by which organisations identify and develop their goals and values 1.1 Compare and contrast different organisational structures and culture 1.2 Analyse the relationship between an organisation s structure and culture and the effects on business performance 1.3 Analyse the factors which influence individual behaviour at work 2.1 Analyse how organisational theory underpins principles and practices of organizing and of management 2.2 Compare the different approaches to management and theories of organisation used by two organizations 3.1 Discuss different leadership styles and the effectiveness of these leadership approaches 3.2 Explain the different motivational theories and their application within the workplace 3.3 Assess the relationship between motivation theory

13 and the practice of management 4 Understand the impact of External analysis which include PESTLE, SWOT analysis Internal analysis: Understand the mission and vision 5 Understand the key forces that represent both opportunities and threats to organisations whether for profit or not for profit 6 Understand the framework for developing strategy its analysis and developing functional strategies 4.1 Describe the nature of groups and group behaviour within organizations 4.2 Investigate the factors that lead to effective teamwork and the influences that threaten success 4.3 Evaluate the impact of technology on team functioning within a given organization 5.1 Evaluate the purpose and attributes of SWOT Analysis 5.2 Appraise techniques to identify the sources of competition to organisations, such as Porter s Five Forces analysis 5.3 Critically evaluate the turbulence of environmental change and the impact on strategic dynamics 6.1 Critically evaluate the marketing plan 6.2 Describe the nature of operational plan for the organisation dealing within oil and gas sector 6.3 Explain the importance of financial plan and hot it works

14 7.9 Risk Management in Oil and Gas To raise business risk awareness and develop skills to assess, monitor and control business risks. To develop an appreciation of the implications of business risks. Unit Level 6 Credit Value 15 GLH 60 Unit Grading Structure Pass Learning Outcomes - The learner will: 1 Understand the risk management function in oil and gas 2 Understand how business risk is assessed and managed 3 Understand the effects of business risks and how they can be managed 4 Understand approaches to crisis management and business continuity planning for oil and gas Assessment Criteria - The learner can: 1.1 Examine the role of the risk management function in oil and gas 1.2 Assess the role of business functions in the management of risk 2.1 Analyse the risk assessment process 2.2 Evaluate approaches to managing risk 2.3 Examine the risk management process 3.1 Analyse the main drivers of business risk 3.2 Appraise the impact of different types of risk for a Oil and gas Management organisation. 3.3 Assess which business areas are high risk 3.4 Analyse risk management strategies 4.1 Critically evaluate approaches to crisis management and business continuity planning 4.2 Analyse the vulnerability of businesses to breaks in continuity

15 7.10 Portfolio Management of Oil and Gas Assets Successful oil and gas companies constantly review, value and risk their assets with a view to optimising the overall performance of their asset portfolio. This activity requires a strategic approach to managing uncertainty, exploiting synergies and ensuring they maintain a balanced and diversified mix of assets. Modern portfolio techniques involve the Construction of sophisticated models to value risk and characterise alternative combinations of assets. Such models can provide a range of graphical displays to aid decision-making, such as feasible envelopes and efficient frontiers defined in terms of financial and non-financial metrics over defined planning horizons. Unit Level 6 Credit Value 15 GLH 60 Unit Grading Structure Pass Learning Outcomes - The learner will: Assessment Criteria - The learner can: 1 Understand the Asset portfolios Operational and strategic management. 2 Understand how Asset portfolio analytical techniques and tools are useful. 3 Understand the Methodology and analysis for asset portfolio optimisation 4 Understand Integrating portfolio valuation, risk and the human dimension 1.1 Need for a portfolio approach and Portfolio characterisation. 1.2 Strategic dimension to portfolio management, planning and rationalisation. 1.3 Capital allocation issues for asset portfolios and Rationalising exploration and production portfolios. 1.4 Explain Organisational structures and corporate styles. 2.1 Select assets to fit with an existing portfolio, how portfolio approach implements a quantified strategy. 2.2 Explain portfolio risk and probability of achieving key strategic targets, setting portfolio development Objectives and its strategic performance and Implementation. 2.3 Identify portfolio optimisation techniques, rank and cut, simplex and genetic optimise. 3.1 Analyse Competitive bidding theory versus practice, risk analysis, probabilities and expected values. 3.2 Rationalising an asset portfolio aided by simulation models. 3.3 Combine simulation, optimisation and risk and Strategy analysis. Use acquisition and divestment decisions and its challenges and pitfalls to mergers and acquisitions. 3.4 Portfolio management case study: independent company approach. Critically evaluate Key portfolio roles for estimating 4.1 and forecasting. Portfolio analysis tools: software options.

16 4.2 Contrast the spectrum of possible oil and gas portfolios, with particular reference to qualitative value and risk assessment of third-party portfolios. 4.3 Analyse portfolio strategies from published reports, Benchmark portfolio performance 4.4 Utilise efficient frontiers to guide portfolio decisions

17 7.11 Strategic Planning This unit explores how organisation and management theories support the practical analysis and design of organisations. The unit also investigates the strategic importance of organisational change. It examines the factors that promote and limit the achievement of change objectives for the dynamic environment within which organisations operate. Candidates who aspire to positions involving change management, organisational analysis and design will develop knowledge, understanding and skills necessary for such job roles. It investigates how strategic analysis lays the foundations for strategy formulation and how strategy is implemented through organisational structures and processes. Candidates will understand the general, competitive and internal organisational environments. The unit also investigates the role of administrative management in strategy formulation and implementation and deals with different approaches to strategic change. Candidates who aspire to management positions involving strategic analysis, strategy formulation and implementation will develop knowledge, understanding and skills necessary for such job roles. Unit Level 7 Credit Value 15 GLH 60 Unit Grading Structure Pass Learning Outcomes - The learner Assessment Criteria - The learner can: will: 1.1 Compare and contrast different organisational 1 Understand the nature, scope structures and culture and need for strategic Management and planning in international profit and notfor-profit 1.2 Analyse the relationship between an organisation s structure and culture and the effects on business performance organisations 1.3 Analyse the factors which influence individual behaviour at work 2 Understand a range of classical and contemporary models, concepts and tools in business strategy and planning 3 Understand the processes by which organisations identify and develop their goals and values 4 Understand the impact of political, economic, social, technological, environmental and legal factors on an organisation 2.1 Analyse how organisational theory underpins principles and practices of organising and of management 2.2 Compare the different approaches to management and theories of organisation used by two organizations 3.1 Discuss different leadership styles and the effectiveness of these leadership approaches 3.2 Explain the different motivational theories and their application within the workplace 3.3 Assess the relationship between motivation theory and the practice of management 4.1 Describe the nature of groups and group behaviour within organisations 4.2 Investigate the factors that lead to effective teamwork and the influences that threaten success 4.3 Evaluate the impact of technology on team functioning within a given organisation

18 5 Understand the key forces that represent both opportunities and threats to organisations whether for profit or not for profit 5.1 Evaluate the purpose and attributes of SWOT Analysis 5.2 Appraise techniques to identify the sources of competition to organisations, such as Porter s Five Forces analysis 5.3 Critically evaluate the turbulence of environmental change and the impact on strategic dynamics

19 7.12 Investment Analysis and Decision Making in Petroleum Industry This unit provides the learner with an understanding of the effect of legislation and global integration on decisions, policies, processes and activities undertaken by organisations. It aims to raise awareness of sustainable development issues and how they impact on the strategic development of the business. Unit 7 Credit Value 15 Level GLH 60 Unit Grading Structure Pass Learning Outcomes - The learner Assessment Criteria - The learner can: will: 1 Understand the global sustainability agenda 2 Understand the concept of the sustainable business organisation 1.1 Analyse the global sustainability agenda and how it translates into national practice 1.2 Analyse the forces for change in the sustainable business environment 1.3 Evaluate the impact of current sustainability issues on healthcare organisations 2.1 Determine the extended boundaries of the sustainable healthcare organisation 2.2 Evaluate impact on business structure and objectives of becoming a sustainable healthcare organisation 3 Understand sustainable strategic planning 4 Understand the wider implications and effects of global integration on organisations 5 Understand the effects of environmental legislation, directives and guidance on organisations 3.1 Determine change required within healthcare organisations to meet sustainability agenda 3.2 Analyse the concept of the triple bottom line and how it is implemented in healthcare organisations 3.3 Review the process of sustainable strategic business planning 4.1 Explain the effects of globalisation on national Economies 4.2 Discuss the influence of international institutions on Organizations 4.3 Explain the role and responsibility of European Union membership on the workplace 5.1 Discuss the economics of adopting a policy of environmental awareness in organizations 5.2 Explain the actions that need to be taken by organisations to maintain the environment 5.3 Describe the measures that exist to improve workplace health and safety practice

20 7.13 Trading Oil in International Markets

21 To develop the skills as delegates become part of Invincible trading team, taking decisions about the company s activities to maximise profits through an understanding of the economics of trading and the management of inherent price risks. They trade the live crude oil and refined product markets worldwide under the guidance of tutors, reacting to events as they happen using real time information from Reuters and Telerate screens and daily price information from Plats and Petroleum Argus. The economics of trading are fully studied. Unit Level 7 Credit Value 15 GLH 60 Unit Grading Structure Pass Learning Outcomes - The learner Assessment Criteria - The learner can: will: 1 Be able to Minimise the operational and counterparty risks. Negotiate, cost and compare deals, directly and through a broker. 1.1 Introduction to trading and markets Price reporti g Prici g echa is s 1.2 Learn International pricing of crude oils Crude oil tradi g Bre t / BFOE arket Write a contract for the purchase and sale of crude oil and refined products Be able to calculate freight costs using World scale and charter a ship. Calculate the profitability of deals. Understand the effects of environmental legislation, directives and guidance on organisations 2.1 Mechanics of trading products. Oil broking, Costing, Comparing alternative outlets, Arbitrage trading and Valuing product quality. 2.2 How to Negotiate a deal by writing a contract, calculating the profitability of deals, spread trading, continuo and backwardation, exchange for physical (EFP) and legal issues. 3.1 Calculating freight costs using world scale. 3.2 Chartering a ship 3.3 Calculate demurrage and freight exposure and swaps 4.1 Identifying and minimizing risks in trading, price exposure and separation of price and supply. 4.2 Futures markets that is forward markets, swaps and OTC markets. Introduction to Options and comparison of instruments. 4.3 Explain the role and responsibility of European Union membership on the workplace 5.1 Hedging with futures and swaps Basis risk Refi ery argi a age e t Tech ical a alysis 6 Manage a corporate position and prepare and evaluate a tender. 6.1 How to manage a corporate position and mark to market? Tender is floated and quotations are received.