Course Summary

This three-day workshop provides an overview of the supply, trading and risk management of the aviation fuels market. The course covers the key building blocks of knowledge for anyone needing to understand the jet fuel and aviation gasoline markets. Topics explored include the basics of aviation fuel production and refining processes, aviation fuels quality and specifications, supply and logistics, market fundamentals of supply and demand, jet fuel trading, pricing mechanisms and the management of price risk. Delegates will get the chance to participate in industry case studies and trading and hedging simulations.

Who Should Attend?

Anyone who needs to know more about the aviation fuels market including those working in refining, marketing, distribution, trading, operations, risk management, purchasing, credit, finance, contracts and IT within an oil company, airline, airport or aviation authority.

Course Contents

Market fundamentals

• Supply
  • Key refining processes used to produce aviation fuels
  • Quality standards, including key international specifications
  • Blending and the use of additives
  • Possible future sources of fuel including the development of synthetic jet fuel
• Demand
  • Demand characteristics: volumes and geographic distribution
  • Growth rates and future market trends: overview of developments for new aircraft and passenger and cargo traffic growth
  • Impact of environmental issues: fuel consumption reduction initiatives and emission restrictions

Distribution and logistics

• Marine, pipeline, road and rail infrastructure
• Airport fuel system operations

Aviation fuel trading and marketing

• Trading patterns and trade flows
• Factors driving aviation fuel prices
• Pricing mechanisms and price sources

Price exposure and risk management

• Impact of price volatility on fuel costs
• Types of risk, including price and basis risk
• Exposure and risk measurement
• Tools for hedging: futures, forwards, swaps and options

The following course(s) are available..

Date / No of days	Location	Fee: Course only	Fee: + accommodation	Code
27 - 29 Sep 2010 (3)	Oxford, UK	GBP£2000 + 17.5% VAT	GBP£2405 + 17.5% VAT	AV1\AGBR10