Objective and Rationale

Welcome to the story of Big Oil. The petroleum industry in Thailand and the region has grown in its importance to the economy and has given rise to the petrochemical industry here. Value addition is indeed the name of this game, where the two industries sometimes compete for the same commodities. Understand the meaning of reserves, R/P ratios, who holds the resources and where, etc. Learn how the two industries synergizem what makes or breaks the oil business, and how the worl doil markets work. How and why OPEC and non-OPEC dominate the worl. See how one makes money in the oil refining and marketing arena. Learn how emerging suppliers and buyers play the game of oil, and how countries manipulate geopolitics to get an upper hand.

Course Outline

1. Towards Understanding the Petroleum and Petrochemical Industries' Synergy

Petroleum Products: Fuel or Feedstock?

2. Economics of the Oil Industry and Consequences of Its Structure:      The Polarity/ Dislocation between Demand and Supply

Reserves and R/P Ratio Structure and Features

3. Characteristics of Crude Oil Market

Demand/Supply Can Demand be Sustained? What about Supply? Demand/Supply Overview Trading pattern Costs to Produce Oil & Technology Pricing The Role of OPEC and Crude Oil Price Formation Crude Oil Pricing: Cost Stacking/ Floor Price Demand/Stock: Impact on Short-Term Pricing Critical Development in the Next 5 Years: OPEC's Dilemma

4. Refining – Refinery Margins & Product Price Formation

Refinery Configuration & Industry Characteristics Refinery Margins & Outlook: Specs and Refining Margins Product Price Formation and Relationship

5. Petroleum Products Market

International Cargo Markets Consumer Pricing & Retail Market

6. Future Scenarios

Russian Oil Caspian Oil