Petroleum Trading & International Law

Paris




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Course overview

 It explores mechanisms and tools for both physical and financial oil trading to give you an unparalleled view into the world of trading, its role within the oil industry, and its importance in the success of oil companies.

 

Course Objectives of Petroleum Trading & International Law

  • Review crude oil supply, demand, and products

  • Understand crude oil refining, evaluation, and selection

  • Explore physical markets, and contracts

  • Appreciate pricing formation and price risk management

  • Learn about futures, swaps, options, and over-the-counter markets

  • Become familiar with trading techniques and terminology

 



Day 1
Introducing Oil and Gas - Overview and Industry Segments
<p><span id="docs-internal-guid-32b3bcd4-7fff-4c38-50b5-bfc84e9e67d5"></span></p><ul style="margin-top:0;margin-bottom:0;padding-inline-start:48px;"><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:14pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">The origins of oil and gas and how they are formed</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Types of petroleum: conventional and unconventional</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Global distribution of fossil fuels and Organization of Petroleum Exporting Countries (OPEC) resource endowment</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Industry overview and segments</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Uses and markets for oil and gas</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Role of government agencies in the oil and gas industry</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Introduction to the supply and value chain: upstream to downstream</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:14pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Distinct economic issues for oil and gas supply chains</span></p></li></ul>

Day 2
Finding Oil and Gas - Reservoir Characteristics and Exploration
<p><span id="docs-internal-guid-7d48792a-7fff-80b1-3c25-abbab0324dbd"></span></p><ul style="margin-top:0;margin-bottom:0;padding-inline-start:48px;"><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:14pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">An introduction to petroleum geology</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Defining and calculating resources and reserves</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Assessing exploration chance of success</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Reservoir characterization, performance, and engineering</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Conventional and non-conventional petroleum resources</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Shale gas, tight gas sands, and coal bed methane</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Shale oil, oil sands, and bitumen</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Exploration and prospecting: broad surveying techniques</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Remote detection methods</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Seismic and other geophysical surveying technologies</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Exploration and appraisal drilling</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Types of borehole and reasons for drilling them</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Types of exploration and production contract and fiscal system</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Accounting for risk</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:14pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Economics of exploration: financing, time value,&nbsp;and expected value&nbsp;&nbsp; &nbsp;</span></p></li></ul>

Day 3
Extracting and Processing Oil and Gas - Drilling, Production, and Optimizing Recovery
<p><span id="docs-internal-guid-f1f74f3d-7fff-b8d7-a310-5c0f5a28e32a"></span></p><ul style="margin-top:0;margin-bottom:0;padding-inline-start:48px;"><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:14pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Well planning and design</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Types of drilling rigs, systems, and equipment</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Drilling procedures, problems, and remedies</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Blowout preventers (BOPs) and blowout contingency planning</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Production engineering and technologies</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Marine operations</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Subsea technologies</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Artificial lift and reservoir stimulation</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:14pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Typical timings and costs</span></p></li></ul>

Day 4
Oil Treatment - Storage and Transportation
<ul style="margin-top:0;margin-bottom:0;padding-inline-start:48px;"><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:14pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Crude oil evaluation and classification</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">The organic chemistry of petroleum&nbsp;</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Transporting and storing crude oil: pipelines and tankers</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Refinery configurations and processes</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Supply and demand trends and markets of petroleum products</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Transporting and storing gas: pipelines and other methods</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:14pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Petroleum product distribution networks</span></p></li></ul><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Selling Oil and Gas - Markets, Trading, Risk, Margins, and Stocks</span></p><p><span id="docs-internal-guid-1387ace9-7fff-f537-8d56-218985dc396d"></span></p><ul style="margin-top:0;margin-bottom:0;padding-inline-start:48px;"><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:14pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Market segments: wholesale and retail</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Spot and term sales</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Benchmark prices and formula pricing</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Commodity exchanges, electronic trading, and over-the-counter (OTC) trades</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Trading instruments: forwards, futures, swaps, and options</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:14pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Hedging from various supply chain perspectives</span></p></li></ul>

Day 5
Managing Oil and Gas - Risks, Opportunities, Organizations, and the Future
<ul style="margin-top:0;margin-bottom:0;padding-inline-start:48px;"><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:14pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Geopolitical risks and opportunities</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Environmental and sustainability issues</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Prudent operators and best practice</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Industry and regulatory bodies</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Legal concepts and contractual frameworks</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Farm out and joint venture arrangements</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Cost recovery from government and producer perspectives</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Future of energy: challenges and opportunities</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">World primary energy mix and substitutes for oil and gas</span></p></li><li dir="ltr" style="list-style-type:disc;font-size:10pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;" aria-level="1"><p dir="ltr" style="line-height:1.2;background-color:#ffffff;margin-top:0pt;margin-bottom:14pt;" role="presentation"><span style="font-size:12pt;font-family:'Open Sans',sans-serif;color:#212529;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;white-space:pre;white-space:pre-wrap;">Forecasts for fossil fuels and the primary energy balance to 2050</span></p></li></ul><p><span id="docs-internal-guid-15291b54-7fff-410a-5f77-503ce28902b1"><br></span></p>
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