Supply & Economics Course

Last 3 days (25-27 Nov), I have attended an inhouse training held in my office.

This training covered the topics of supply & demand of petroleum products, shipping & chartering, refinery processes, refinery optimisation, trading terms, risks/exposure management and also did role-playing games.

At the end of the course, we were recommended to read Daniel Yergin's book on "THE PRIZE" - which traces the history of oil from its humble, entrepreneurial beginnings in the hillsides of western Pennsylvania, to the shrewd domination of the industry by John D. Rockefeller, to the breakup of Standard Oil, and through the discovery of oil in the farthest flung coners of the globe. Part of it is the tragedy: the gradual seizure of oil from the voyagers who discovered it by national governments who were able to use their seizures to threaten the West during the 1973 oil shock and beyond. In this one very big instance, third world governments really did take on multinational corporations - and defeated them.....