African Oil Market Fundamentals (May 2026)

19-21 May 2026

Major changes are sweeping across West Africa: exchange rate policy changes, subsidy withdrawal, specification changes and broader liberalisation. This course provides essential training to adapt to this new oil product trading environment. New opportunities are appearing – enhance your skillset to take advantage.

The course will cover:

  • Establishing the fundamentals
    • Terms and definitions
    • Crude oil market history
    • Key players: who makes up the market?
    • Geography and the crude oil market
  • Refining
    • Inputs and outputs
    • Crude properties
    • Refinery yields
    • Introduction to refining margins
    • How is money made in Refining
    • Simple vs Complex refining configurations
    • Key upgrading units
    • Refining in Africa: Dangote case study
    • Product specifications
  • Trading and logistics
    • Title & risk
    • INCOTERMS
    • Freight and vessel basics
    • Maritime terminology unpacked
    • Contracts and key terminology
  • Pricing
    • Crude and product pricing basics
    • Price Reporting Agencies and their roles
    • Trading and pricing in Africa: challenges
    • What are OSPs and how do they work?
    • African product price structures: components & calculations
    • The opportunities and difficulties of predetermined margins
  • Supplying
    • Import processes: Tenders & spot purchases
    • Payment terms & credit
  • African oil flows
    • Market evolution: Growth and maturity
    • Product demand outlook
    • Key product trends
    • Urbanisation & the energy challenge
    • Extended supply chains: hinterland markets
    • Challenges: Pricing, infrastructure, stocks
    • Retail: key trends & outlook

Course consultant : Jeremy Parker, Senior consultant