Day 1 – Tuesday (start mid-day)

The Agri Supply Chain

1. What is Supply Chain?
2. Supply Chain Framework for Agriculture
3. 4-Rs of the Agri Supply Chain
   1. Reliable (established and integrated network)
   2. Resilient (multiple options to move from Farm to Market)
   3. Resourceful (high volume, throughput, and efficiency)
   4. Redundant (plug and participate system)

Supply Trends and Dynamics

Influence of Energy Transition, Population Shifts and Geopolitics

Demand Trends and Dynamics

Day 2 – Wednesday (full day)

Bringing Supply and Demand Together

Price Formation

1. Commodity Exchanges
2. Cash and Brokerage
3. Basis

Case Studies

4. Soybeans
5. Coffee

Risk Management and Mitigation

1. Crops
2. Proteins
3. Crop Nutrients

Day 3 – Thursday (end mid-afternoon)

Pulling it Together – how agri overcomes supply chain disruptions

Challenges as agriculture meets further requirements

1. Consumer preferences
2. Biofuels needs
3. Decarbonization efforts

• Understand the role of refining in the oil and chemicals supply chain
• Understand how refiners seek to maximize short and long-term profitability
• Participate in classroom exercises that simulate the day-to-day decisions refiners take
• Understand the pressures the industry is facing and how refiners are adapting to short-term volatility and the longer-term challenges of the energy transition

Day 1 – Tuesday

• The Agri Supply Chain - what is supply chain, supply chain framework for Agriculture, 4-Rs of the agri supply chain
• Crop supply trends and dynamics
• Influence of energy transition, population shifts and geopolitics
• Crop demand trends and dynamics, including co- and by-products

Day 2 – Wednesday

• Bringing crop and product supply and demand together
• Price formation – Commodity exchanges, cash & brokerage, basis
• Case studies – Soybeans, coffee or other similar crops
• Risk management and mitigation – Crops, Proteins, Crop Nutrients

Day 3 – Thursday

• Pulling it Together – How agri overcomes supply chain disruptions
• Challenges as agriculture meets future requirements – Consumer preferences, biofuel needs, decarbonization efforts

• Obtain a view of industry trends in crop production and use for food, fiber, fuel and industrials.
• Understanding of market fundamentals and feedstock dynamics for the biofuels sector with measurable contributions to their organization.
• Learn about the tools to meet energy transition and sustainability goals, focusing on the basics of agri commodity markets, risk management concepts, and logistics.
• Gain a perspective of market structures and supply chain vulnerabilities linked to value chain dynamics given the impact of the larger fuel markets impact on agriculture.
• Crop supply and demand, selling and buying, procurement for handling, transport, crushing & grinding, livestock feeding, export, biofuels & renewable energy during this energy transition period.
• Plus, a deep dive into requirements of biofuel feedstocks for renewable transportation fuels (e.g., renewable diesel, SAF, etc.)
• Commodities covered: grains (barley, corn, sorghum, and wheat), oilseeds (canola and soybeans), softs, veg oils, and products (DDGs, soybean meal)

• Detailed understanding of agri-commodity fundamentals and the language of the industry.
• Tools to comprehend market dynamics impacting prices and costs.
• Opportunity to apply:
• New knowledge to unravel complexity while enabling the development of risk management tools for merchandising, trading and procurement.
• New and higher-value level skills to contribute to organizational performance while being able to advance career development.

Introduction to energy transition

• Energy Transition
  • What is energy transition?
  • Drivers of energy transition
  • The role of regulation in energy transition
  • The future of energy
• Regulation
  • The role of government in energy transition
  • The regulatory framework for renewable energy

The economics of energy transition

• Financial implications of the energy transition for energy companies:
  • The cost of renewable energy
  • The impact of carbon pricing
  • The role of government policy
• Carbon markets
  • How carbon markets work
  • The role of carbon markets in reducing emissions
  • The future of carbon markets

The role of technology in energy transition

• Hydrogen technology
  • The production of hydrogen
  • The use of hydrogen in energy systems
  • The economics of hydrogen
• Methanol and ammonia
• Renewable energy technologies
  • Solar photovoltaics
  • Wind power
• Energy efficiency (role in decarbonization)
• Electricity transmission (impact on the pace of energy transition)

Carbon markets

• What’s the difference between compliance markets and voluntary carbon markets?
• What are the active compliance markets globally?
• What are the carbon prices in those markets?

Carbon credits

• What are carbon credits?
• How can we generate them? How can we use them to offset our emissions?
• How to go about registering a project – what are the steps involved?
• Do you have analytics around the supply/demand on carbon credits?
• How much of the carbon credits are traded in Exchange vs OTC markets?
• What’s the relationship between carbon price and sustainable development goals (SDG’s)?
• Who are the active players in the voluntary carbon market?
• You have so many carbon pricing assessments – which one should I choose to offset my emissions? Can I choose the cheapest one and get away with it?

Get an overview of the energy transition landscape and the potential future of energy systems

Evaluate the role of carbon markets in the energy transition

Understand the role of hydrogen and its alternatives in the energy future

Realize the importance of renewable energy and the various available technologies

Assess the governmental and regulatory environments, and their impact on the energy transition economics

Day 1
Introduction to energy transition

What is energy transition; drivers of energy transition; role of regulation in energy transition; future of energy

Carbon markets: how carbon markets work; role of carbon markets in reducing emissions; future of carbon markets

Day 2
Economics of energy transition

Role of government in energy transition; regulatory frameworks for renewable energy and carbon markets

Financial implications of energy transition for energy intensive companies: cost of renewable energy, impact of carbon pricing, role of government policy

Day 3
Role of technology in energy transition

Hydrogen: production of hydrogen; use of hydrogen in energy systems; economics of hydrogen, methanol and ammonia

Renewable energy: solar photovoltaics; wind power; energy efficiency and its role in decarbonization

Electricity transmission: impact on the pace of energy transition

• This course provides an in-depth study of the global markets and infrastructure for natural gas liquids (NGLs, including LPG), with a focus on why the markets are structured as they are and what that means for pricing.
• The course starts with an introduction to the NGL products (including bioLPG), their generation as byproducts from oil and gas production and refining, and why their unique properties make them ideal for certain applications.
• This leads to a discussion of the end use markets, including demand drivers and competition.
• The course explores the countries in which the major end use markets thrive and provides a global perspective on the industry players involved in the regional distribution of production and demand. Logistics on land and over water play a key role in getting NGLs where they can be used and help to explain why trading and pricing hubs develop.
• The course covers the NGL valuation economics that drive NGL / LPG prices, as well as the influence of specifications, international trade and arbitrage.
• The course ends with discussion of the trends and issues that will shape the future of the NGL / LPG industry.

• Learn why the markets are structured as they are and what that means for pricing
• Understand NGL/LPG valuation economics that drive industry profitability
• Reinforce and refresh skills and knowledge
• Fill in knowledge gaps/learn new skills
• Learn current industry trends shaping the future of the NGL/LPG industry
• Hear different industry perspectives
• Deepen your knowledge to better evaluate current market conditions
• Discover growth opportunities for your company

• The course starts off with a thorough and detailed look at the foundation of our industry- petrochemical feedstocks including natural gas, NGLs, petroleum, coal and bio-based.
• This discussion leads naturally into the industry's 7 Basic Building Blocks: Syngas, Ethylene, Propylene, C4 Olefins, Benzene, Toluene, and Xylenes.
• In turn, we explore each building block's value chain, including commodities such as PE, PP, PVC, PS/EPS, PET and methanol.
• And we also go downstream into more specialized product areas including LAOs, EO/MEG, PO, Phenol, BPA, PC, Epoxies, Acrylics/SAP, Plasticizers, ACN, Synthetic Rubbers, 1,4-BDO, ABS, Nylons, Polyurethanes, PF, MF, UF Resins and many others.

• Gain an understanding of the big picture from feedstocks to olefins and aromatics to plastics
• Reinforce and refresh skills and knowledge
• Fill in knowledge gaps/learn new skills
• Learn current industry trends
• Hear different industry perspectives
• Gain confidence to engage more pro-actively with colleagues, senior management, customers and suppliers

• The course starts off with a thorough and detailed look at the foundation of our industry- petrochemical feedstocks including natural gas, NGLs, petroleum, coal and bio-based.
• This discussion leads naturally into the industry's 7 Basic Building Blocks: Syngas, Ethylene, Propylene, C4 Olefins, Benzene, Toluene, and Xylenes.
• In turn, we explore each building block's value chain, including commodities such as PE, PP, PVC, PS/EPS, PET and methanol.
• And we also go downstream into more specialized product areas including LAOs, EO/MEG, PO, Phenol, BPA, PC, Epoxies, Acrylics/SAP, Plasticizers, ACN, Synthetic Rubbers, 1,4-BDO, ABS, Nylons, Polyurethanes, PF, MF, UF Resins and many others.

• Gain an understanding of the big picture from feedstocks to olefins and aromatics to plastics
• Reinforce and refresh skills and knowledge
• Fill in knowledge gaps/learn new skills
• Learn current industry trends
• Hear different industry perspectives
• Gain confidence to engage more pro-actively with colleagues, senior management, customers and suppliers

• The course starts off with a thorough and detailed look at the foundation of our industry- petrochemical feedstocks including natural gas, NGLs, petroleum, coal and bio-based.
• This discussion leads naturally into the industry's 7 Basic Building Blocks: Syngas, Ethylene, Propylene, C4 Olefins, Benzene, Toluene, and Xylenes.
• In turn, we explore each building block's value chain, including commodities such as PE, PP, PVC, PS/EPS, PET and methanol.
• And we also go downstream into more specialized product areas including LAOs, EO/MEG, PO, Phenol, BPA, PC, Epoxies, Acrylics/SAP, Plasticizers, ACN, Synthetic Rubbers, 1,4-BDO, ABS, Nylons, Polyurethanes, PF, MF, UF Resins and many others.

• Gain an understanding of the big picture from feedstocks to olefins and aromatics to plastics.
• Reinforce and refresh skills and knowledge
• Fill in knowledge gaps/learn new skills
• Learn current industry trends
• Hear different industry perspectives
• Gain confidence to engage more pro-actively with colleagues, senior management, customers and suppliers

Gain an overall understanding on petrochemical price definition and forecasting techniques, production cost analysis and inherent margin analysis – to assist the participants to become confident at forecasting for the short, medium and long term.

1. Introduction to price definitions & forecasting techniques
   • Short-term
   • Medium-term
   • Long-term
2. Short term forecasting techniques
   • Linear regression analysis method
   • Linear programming method

   Case Study#1 (a) & (b): Forecasting next quarter’s prices (* selected petrochemical product)

3. Medium-long term forecasting techniques

   Production cost analysis

   • Underlying energy and feedstock values
   • Feedstock, variable, fixed costs, and co-product credits
   • Alternative values
   • Production cost models

   Case Study #2: Cash Cost of Production (* selected petrochemical product)

   Case Study #3: Estimating Historical Return on Investments (ROI)

   • Cost curves
4. Inherent margin analysis
   • Supply/demand balances

   Case Study # 4a: Demand forecast for 2019

   • Impact of operating rates
   • Market momentum & psychology

   Case Study # 4b: Global supply-demand-trade flow-operating rates planning

   • Return on investment

   Case Study # 4c: Forecast medium-long term ROI and prices

5. Diagnostic Checks
   • Diagnostic checks
   • Regional relationships and arbitrage

• To better understand how energy and feedstock values, variable and fixed production cost elements affect the final selling prices.
• To better capture short term pricing dynamics quantitatively through utilization of price forecasting tools in Excel™ like regression analysis and linear optimization programs.
• To better appreciate how supply/demand balances and projected operating rates will impact inherent margins and project return on investment
• To perform diagnostic checks of the forecasted prices by reviewing historical relationships and arbitrage opportunities (where possible).

Consumers and investors are demanding increased sustainability commitments from the chemical players. As a result, companies need to develop strategies to improve their sustainability and meet net zero targets. The development of resilient roadmaps to achieve these objectives requires an understanding of potential sources of opportunities with improved sustainability and an assessment of options, whilst acknowledging that there are significant market and regulatory uncertainties. For chemical producers, many of the opportunities are outside their direct control and linked to the agribusiness, refining, plastics circularity and CO2 use.

Session 1 – Agricultural Background and Biofuels

• Legislation overview
• Agri-feedstocks overview and carbon intensity including new fuels.
• Routes to gasoline blending components
• Routes to diesel/aviation fuel blending components
• Biogas developments
• Biomethanol
• RFNBOs – eFuels, hydrogen, etc.
• Market overview
• Manufacturing costs
• Carbon footprint and availability of petrochemical feedstocks

Session 2 – Plastics Recycling

• Scoping the challenge
• Legislation overview
• Market overview and development
• Petrochemical value chain Integration
• Technology Solutions
• Production economics
• Carbon footprint implications.

Session 3 – Biodegradable Polymers

• Definitions
• Legislation overview
• Market overview and development
• Polymer Families and Building Blocks
• Technology Solutions
• Production Economics
• Carbon Footprint Implications.

Session 4 – Bio-based Plastics and Intermediates

• Definitions
• Legislation overview as appropriate
• Market overview and development
• Polymer Families and Building Blocks
• Technology Solutions
• Comparative production economics
• Carbon Footprint Implications.

Session 5 – Carbon Dioxide

• Market overview and development
• Major sources
• Technology solutions for CCS/CCSU and re-use
• Comparative production economics
• Introduce impact on biofuel/chemical operations.

Session 6 – More Sustainable Petrochemical Building Blocks

• Definitions
• Legislation overview as appropriate
• Market overview and development – focus on production
• Reminder of feedstocks from biofuels, circular plastics, etc.
• Low carbon building blocks and footprint
• Alternative approaches to reduction in scopes 1, 2 and 3.
• Comparative production economics
• Impact of developments in CO2 pricing on competitiveness

Conclusions – what does this all mean?

For stakeholders in the chemical industry, this course offers a review of advances in chemicals sustainability options, a discussion of the drivers for their development and some key elements necessary to their assessment.

• The course starts off with a thorough and detailed look at the foundation of our industry- petrochemical feedstocks including natural gas, NGLs, petroleum, coal and bio-based.
• This discussion leads naturally into the industry's 7 Basic Building Blocks: Syngas, Ethylene, Propylene, C4 Olefins, Benzene, Toluene, and Xylenes.
• In turn, we explore each building block's value chain, including commodities such as PE, PP, PVC, PS/EPS, PET and methanol.
• And we also go downstream into more specialized product areas including LAOs, EO/MEG, PO, Phenol, BPA, PC, Epoxies, Acrylics/SAP, Plasticizers, ACN, Synthetic Rubbers, 1,4-BDO, ABS, Nylons, Polyurethanes, PF, MF, UF Resins and many others.

• Gain an understanding of the big picture from feedstocks to olefins and aromatics to plastics
• Reinforce and refresh skills and knowledge
• Fill in knowledge gaps/learn new skills
• Learn current industry trends
• Hear different industry perspectives
• Gain confidence to engage more pro-actively with colleagues, senior management, customers and suppliers

• The course starts off with a thorough and detailed look at the foundation of our industry- petrochemical feedstocks including natural gas, NGLs, petroleum, coal and bio-based.
• This discussion leads naturally into the industry's 7 Basic Building Blocks: Syngas, Ethylene, Propylene, C4 Olefins, Benzene, Toluene, and Xylenes.
• In turn, we explore each building block's value chain, including commodities such as PE, PP, PVC, PS/EPS, PET and methanol.
• And we also go downstream into more specialized product areas including LAOs, EO/MEG, PO, Phenol, BPA, PC, Epoxies, Acrylics/SAP, Plasticizers, ACN, Synthetic Rubbers, 1,4-BDO, ABS, Nylons, Polyurethanes, PF, MF, UF Resins and many others.

• Gain an understanding of the big picture from feedstocks to olefins and aromatics to plastics
• Reinforce and refresh skills and knowledge
• Fill in knowledge gaps/learn new skills
• Learn current industry trends
• Hear different industry perspectives
• Gain confidence to engage more pro-actively with colleagues, senior management, customers and suppliers

• The course starts off with a thorough and detailed look at the foundation of our industry- petrochemical feedstocks including natural gas, NGLs, petroleum, coal and bio-based.
• This discussion leads naturally into the industry's 7 Basic Building Blocks: Syngas, Ethylene, Propylene, C4 Olefins, Benzene, Toluene, and Xylenes.
• In turn, we explore each building block's value chain, including commodities such as PE, PP, PVC, PS/EPS, PET and methanol.
• And we also go downstream into more specialized product areas including LAOs, EO/MEG, PO, Phenol, BPA, PC, Epoxies, Acrylics/SAP, Plasticizers, ACN, Synthetic Rubbers, 1,4-BDO, ABS, Nylons, Polyurethanes, PF, MF, UF Resins and many others.

• Gain an understanding of the big picture from feedstocks to olefins and aromatics to plastics.
• Reinforce and refresh skills and knowledge
• Fill in knowledge gaps/learn new skills
• Learn current industry trends
• Hear different industry perspectives
• Gain confidence to engage more pro-actively with colleagues, senior management, customers and suppliers

See the big picture of the oil industry with an understanding of its structure, fundamentals, supply, and demand

Get an understanding of oil trading, pricing, and benchmarks

Create short term and long term outlooks for the oil markets, in an environment being impacted by energy transition

Develop risk management strategies for selling, purchasing, and trading uncertainties

Learn, reinforce, and refresh knowledge and skills, while hearing different industry perspectives and gauging current industry trends

Discover growth opportunities by building confidence to engage more pro-actively with colleagues, senior management, customers, and suppliers on current and future market conditions.

Opportunity to develop professional network of industry participants.

DAY 1
Oil Market Fundamentals

• Global energy fundamentals: global energy supply & demand;
• Structure of the world oil industry
• World oil market fundamentals (part 1): Oil market history; oil demand and supply; forces shaping future of world oil demand; history of oil supply regulation; US Shale; Emergence of OPEC+
• World oil market fundamentals (part 2): oil price history; factors shaping the oil price today; role of futures markets; price benchmarks
• Oil and the energy transition: How to think about the future

Oil price discovery and trading

• Oil Pricing: How does the Brent market work?; Understanding what the physical trading data represents; Methodology: How do we arrive to the price?
• Trading: The mechanics of trading physical crude
• Oil Price Forecast

DAY 2
Benchmarks

• Overview of Platts Oil Benchmarks and assessment methodology
• Update on Platts Benchmarks: Dated Brent/Urals
• Update on Platts Benchmarks: Platts Dubai/Oman

Market Outlook

• How to develop an oil price outlook, short and long term
• Value of scenario framework for forecasting
• Oil market outlook to 2024 and through 2050

DAY 3
Risk Management Concepts

• Approaches to Risk Management
• Risks with discretionary positioning
• Long and Short
• Basis and Outright risk
• Physical v. Financial Exposure

Basic Futures

• Futures: ecosystem and settlement
• Margins, basis and spreads

Introduction to Basis Trading

• Implications of basis
• Models for basis analysis

Overview of Options

• Basics and definitions
• Variables to determine option prices
• Profit and Loss diagrams
• Basic option strategies

Introduction to Hedging

• Hedging strategies in trading
• Basic hedging instruments

• Refining operations and technical configuration, economics, and margin optimization
• Key drivers behind the energy transition and short, medium, and long-term commercial outlook
• Refining petrochemical integration including olefins and aromatics and Crude-Oil-to-Chemicals (COTC)
• Refinery flexibility and how to optimize and/or shift yields without making a major capital investment
• Ways to increase the percent of barrel to chemical feedstocks (COTC)
• Use of greener power and hydrogen in refining
• Technical and design approaches to accommodate a net-zero future

• Gain a good understanding of refining operations and technical configuration, economics, and margin optimization
• Reinforce and refresh skills and knowledge
• Fill in knowledge gaps/learn new skills
• Learn current industry trends
• Hear different industry perspectives
• Review the key drivers behind the energy transition and short, medium, and long-term commercial outlook
• Learn about increased efforts at higher levels of refinery/petrochemical integration
• Gain insight about refinery flexibility and how to optimize and/or shift yields without making a major capital investment
• Review ways to increase the percent of barrel to chemical feedstocks (COTC)
• Assess technical and design approaches to accommodate a net-zero future

• Crude Oil Grades & Qualities
• Refined Products and their Qualities
• Refining Configurations & “Complexity”
• Refinery Technology
• Refined Product Price Formation
• Crude Oil Valuation
• Refinery Margin Calculations
• Short-term Market Outlook
• Responding to Near-term Changes
• Long-term Market Outlook
• Refining & Petrochemical Integration
• Greener Refiners