Majlis Energy

Oil Market Training Program

Full Proposal

This document is private and confidential.
Please enter the access code to continue.

Incorrect access code. Please try again.

© 2026 Majlis Energy Advisory (Majlis Altaqa) LLC

Oil Market
Training Program

Full Proposal
Prepared for
The Ministry of Energy
Kingdom of Saudi Arabia
March 2026

Program Overview

Majlis Energy Advisory proposes a uniquely curated Oil Market Training Program designed for the Ministry of Energy, Kingdom of Saudi Arabia. The program strengthens the Ministry's analytical capabilities in oil market forecasting, price analysis, and strategic market intelligence. It comprises two distinct components:

I. Specialist Training Program

A structured, classroom-based training curriculum for Ministry specialists — covering oil market fundamentals, trading, and derivatives across 7 expert-led modules.

  • 7 modules delivered over 15 training days
  • 90 hours of expert-led instruction
  • 15 specialists per cohort
  • 3 sessions per day (120 minutes each)
  • 14 industry expert speaker engagements
  • Certification upon successful completion

II. Executive Roundtable Program

Private, invitation-only dinner discussions for senior Ministry executives, held alongside the world's leading energy conferences with top industry experts.

  • 4 private roundtable dinner discussions
  • Held alongside major global energy events
  • CERAWeek (Houston) · Energy Forum (London)
  • Energy Week (London) · IEF (Riyadh)
  • 15 senior participants per event
  • 8 expert speakers across 4 events
Specialist Training at a Glance
15
Training Days
45
Sessions
7
Modules
14
Expert Speakers
90
Hours
Executive Roundtable at a Glance
4
Roundtable Events
8
Expert Speakers
15
Executives / Event
4
Global Conferences
Program Purpose
Strengthen

Specialist capabilities in forecasting oil balances and the price of oil

Develop

Deep insights into the boom and bust cycles of physical and financial oil markets

Enhance

Practical skills to build data-driven supply-demand reports for OPEC policy

Build

Institutional know-how in short and long-term oil market analytics

Strategy

Majlis Energy will provide structured interactive lectures, workshops and expert-driven analytical training to strengthen the Ministry of Energy's oil market and price forecasting capabilities.

  • Analyze the complexities of the oil market (supply, demand, inventories, policy decisions and financial markets)
  • Understand how paper markets and speculators influence short-term price volatility
  • Discuss the impact of geopolitics, macro-shocks, and risk perception on the oil market
  • Assess OPEC and non-OPEC actions to balance the market in a volatile supply and demand environment
  • Develop a proprietary oil balance and oil price forecast

Investment Summary

ItemAmount (USD)
Specialist Training (1 Cohort × 15 Specialists)$889,826
Executive Roundtables (4 Events)$315,826
Program Fee$1,205,652
Majlis Investment (–5%)*–$60,283
Subtotal$1,145,369
VAT (15%)$171,805
Total Investment$1,317,175
* Majlis Investment represents Majlis Energy Advisory's direct co-investment in the program, applied as a discount to the Ministry. As a Saudi-founded energy advisory firm, Majlis Energy is committed to strengthening the Kingdom's energy institutions and building national analytical capacity. This contribution reflects our belief that investing in the Ministry's people is an investment in Saudi Arabia's continued leadership of global energy markets.
Scenario Comparison

1 Cohort + Executive Roundtables

Program Fee$1,205,652
Majlis Investment (–5%)*–$60,283
VAT (15%)$171,805
Total Investment$1,317,175

2 Cohorts + Executive Roundtables

Program Fee$2,095,478
Majlis Investment (–5%)*–$104,774
VAT (15%)$298,606
Total Investment$2,289,310

I. Specialist Training Program

A comprehensive 15-day curriculum delivered across 7 modules over 6 months. Each module is delivered monthly, combining structured lectures by Majlis Energy core faculty, expert speaker briefings, and hands-on analytical workshops. Each cohort accommodates 15 Ministry specialists.

Module Breakdown
M1
Oil Supply, Demand & Price Forecasting
3 days · 20%
1 Cohort$177,9652 Cohorts$355,930

Objective: Build a comprehensive understanding of global oil market fundamentals and the price of oil

The foundational module covering the full oil supply-demand framework and price forecasting methodologies used by institutional analysts and policy advisors.

Core Components
  • General introduction to energy and the role of oil in history and today's markets
  • Global supply dynamics: OPEC, non-OPEC, shale and conventional oil production
  • OPEC+ policy decisions, spare capacity, and market balancing dynamics
  • Global oil demand by region and by sector: OECD and non-OECD, transport, industry, residential, power and petrochemicals
  • Short-term vs long-term oil supply, demand and price forecasting
  • Inventory dynamics: surplus/deficit and stock balancing effects on oil price
  • Market structure: contango, backwardation and carrying costs
Format

6 structured lectures + 3 hands-on analytical workshops over 3 days

Suggested Expert Speakers

Jim Burkhard — VP & Head of Oil Markets, S&P Global Commodity Insights (TBD)
Dr Cuneyt Kozakoglu — Head of Oil Demand, FGE Nexant

OPEC+ policySpare capacityDemand by region Inventory dynamicsPrice forecastingSupply-demand balancesNon-OPEC supply
M2
Refining Economics
2 days · 13%
1 Cohort$118,6432 Cohorts$237,287

Objective: Develop insight into global refining economics and margin dynamics to map oil product demand

Deep dive into downstream economics, refinery margin cycles, and product market dynamics across global refining centres.

Core Components
  • Refinery configurations: hydroskimming, cracking, coking and integrated
  • Crude slate optimization and refinery yield economics
  • Crack spreads and refinery margin calculation
  • Seasonal product demand patterns and regional differences
  • Fuel specification impacts on refinery operations and crude demand
  • Refinery utilization rates and maintenance cycles
  • Petrochemical integration and feedstock competition
  • Impact of product margins on crude quality premiums/discounts
Format

4 lectures + 2 case-study workshops analysing real refinery margin scenarios

Suggested Expert Speakers

Alan Gelder — VP, Downstream Research, Wood Mackenzie (TBD)
Dr Iman Nasseri — Manager, FGE Nexant

Crack spreadsMargin cyclesCrude quality premiums Petrochemical feedstockRefinery configuration
M3
Geopolitics & Global Trade
2 days · 13%
1 Cohort$118,6432 Cohorts$237,287

Objective: Understand the geopolitics of oil markets

Understanding how geopolitical events, sanctions regimes, and trade disruptions shape oil flows and pricing across regions.

Core Components
  • Impact of sanctions and geopolitics on oil flows and the risk premium on oil price
  • Major global oil trade routes and strategic chokepoints
  • Oil tanker markets: VLCC, Suezmax, Aframax freight economics
  • FOB vs CIF pricing and cargo valuation
  • Term vs spot crude trading and pricing formulas
  • Storage economics and floating storage arbitrage
  • Freight cost impact on crude arbitrage flows
  • Price reporting agencies and benchmark assessment processes
Format

4 lectures + 2 scenario planning exercises modelling geopolitical disruption events

Suggested Expert Speakers

Bob McNally — President, Rapidan Energy Group (TBD)
Jamie Ingram — Managing Editor, MEES
Colby Connelly — Head of Middle East Content, Energy Intelligence

SanctionsTrade routesTanker economics FOB/CIF pricingStorage arbitrage
M4
Physical Trading
2 days · 13%
1 Cohort$118,6432 Cohorts$237,287

Objective: Understand physical oil trading (shipping, pipelines and trade)

Mechanics of physical oil trading from cargo origination through to settlement, including risk management along the trade lifecycle.

Core Components
  • Shipping, pipeline and regional and global crude oil trade
  • Trade lifecycle: execution, clearing, settlement processes
  • Clearinghouse functions and risk management frameworks
  • Physical delivery procedures in crude futures contracts
  • Exchange for Physical (EFP) mechanisms
  • Regulatory reporting requirements and compliance frameworks
  • Settlement price formation and manipulation risks
  • Digital settlement innovations and emerging infrastructure
Format

4 lectures + 2 trade simulation workshops replicating real cargo transactions

Suggested Expert Speakers

Xavier Tang — Oil Market Analyst, Vortexa (TBD)
Alex Mikhov — Senior Oil Trader, Trafigura
Antoine Halff — Chief Energy Analyst, Kayrros

Trade lifecycleClearinghouse riskEFP mechanisms Settlement frameworksCargo logistics
M5
Financialization of Oil
2 days · 13%
1 Cohort$118,6432 Cohorts$237,287

Objective: Analyze the transformation of oil into a financial asset class

How financial markets, investor behaviour, and macroeconomic forces influence oil prices beyond physical fundamentals.

Core Components
  • Oil's evolution from commodity to financial investment asset
  • Role of hedge funds, banks, ETFs, and index investors
  • Impact of passive investment flows on futures markets
  • Correlation between oil and equities, bonds, currencies
  • US dollar movements and macroeconomic drivers of oil prices
  • Algorithmic and high-frequency trading influence
  • Liquidity shifts and extreme volatility events
  • ESG pressures and capital allocation effects
Format

4 lectures + 2 data-driven workshops analysing fund flows and positioning data

Suggested Expert Speakers

Daan Stuyvens — Head of Commodities, Goldman Sachs
Professor Bassam Fattouh — Director, Oxford Energy Institute (TBD)

Hedge fundsETFsAlgorithmic trading Dollar correlationESG impact
M6
Paper Markets
2 days · 13%
1 Cohort$118,6432 Cohorts$237,287

Objective: Comprehend how financial markets impact price volatility and interact with the physical oil market

Futures exchanges, swaps markets, and speculative dynamics across the world's key energy trading platforms.

Core Components
  • Futures, forwards, and swaps instruments and use cases
  • Major exchanges: ICE, NYMEX, DME, Shanghai INE
  • Contract structures, delivery points, and specifications
  • Futures influence on spot market pricing
  • Basis trading between physical and futures markets
  • Market participants: producers, traders, funds, speculators
  • Hedging versus speculative positioning dynamics
  • Regulatory oversight and position limit frameworks
Format

4 lectures + 2 live market analysis workshops using real exchange data feeds

Suggested Expert Speakers

Dr. Florian Thaler — Head of OilX, Energy Aspects
Robert Ryan — Ryan Commodities, Former Chief Commodity Strategist, BCA Research

ICE / NYMEX / DMEBasis trading Speculative positioningOpen interest
M7
Futures & Derivatives
2 days · 13%
1 Cohort$118,6432 Cohorts$237,287

Objective: Develop working knowledge of derivative instruments used for risk management

Advanced derivatives strategies, options pricing, and risk management frameworks for oil market participants.

Core Components
  • Futures contract mechanics: margining, settlement, contract roll
  • Calendar spreads and inter-commodity spreads
  • Options fundamentals: calls, puts, strike, premium, volatility
  • Options strategies: collars, straddles, structured hedging solutions
  • Swaps markets: price, basis, and crack spread swaps
  • OTC markets and counterparty risk management
  • Clearing reforms and post-2008 derivative infrastructure
  • Application of derivatives for producer and consumer hedging
Format

4 lectures + 2 hedging strategy workshops building real options structures

Suggested Expert Speakers

Robert Ryan — Ryan Commodities, Former Chief Commodity Strategist, BCA Research

Options strategiesCollars & straddlesSwaps OTC riskProducer hedging
Total — 15 Days · 45 Sessions · 90 Hours
1 Cohort$889,826
2 Cohorts$1,779,652
Delivery Timeline

Modules are delivered monthly over six months, progressively building analytical capabilities.

1
April 2026
Curriculum finalization and material development
2
May 2026
Participant selection and onboarding by the Ministry
3
June 2026
Cohort 1 launch — Module 1 (3 days)
4
Jul – Nov 2026
Modules 2–7 delivered monthly (2 days each)
5
Dec 2026 – May 2027
Cohort 2 delivery (Scenario 2 only)

II. Executive Roundtable Program

Four exclusive private roundtable dinner discussions organised on the margins of major international energy conferences. These are highly curated, confidential strategic engagements bringing together senior Ministry of Energy executives with leading global industry experts for candid, closed-door dialogue.

Each roundtable features a private dinner setting with carefully selected participants, expert-led strategic discussions, and real-time market intelligence exchange. They are not public-facing events, open panels, or large-format presentations.

ROUNDTABLE 01
CERAWeek
Houston, USA
15Guests
2Speakers
$78,957Fee
ROUNDTABLE 02
Energy Intelligence Forum
London, UK
15Guests
2Speakers
$78,957Fee
ROUNDTABLE 03
International Energy Week
London, UK
15Guests
2Speakers
$78,957Fee
ROUNDTABLE 04
International Energy Forum
Riyadh, KSA
15Guests
2Speakers
$78,957Fee
Total — 4 Events · 8 Expert Speakers
$315,826

Exact dates to be confirmed based on official conference schedules. Venues will be premium hotels in each city, final selection at the Ministry's discretion.

Program Outcomes

The program delivers measurable, lasting impact on the Ministry's analytical capabilities. Participants develop practical, immediately deployable skills.

Analytical Skills

Forecasting & Scenario Planning

Build proprietary oil supply-demand and price forecasts for OPEC+ policy support

Refining & Product Market Analysis

Analyse crack spreads, crude differentials, and arbitrage flows across regions

Market Intelligence

Geopolitical Risk Assessment

Evaluate sanctions, trade disruptions, and political shocks on oil flows and pricing

Physical & Financial Integration

Connect tanker flows, storage, and pipeline data with futures and options positioning

Risk & Derivatives

Derivatives & Risk Management

Interpret clearing mechanisms, liquidity dynamics, and producer hedging strategies

Deliverables

Strategic Market Intelligence

Produce structured market reports, briefing notes, and data-driven presentations

Certification & Knowledge Transfer

Earn Advanced Oil Market Analysis Certification with seven module-linked reports

Next Steps

To initiate the program, we propose the following steps:

1

Approve Program Framework

April 2026

Confirm structure, module priorities, cohort size, and scenario selection

2

Allocate Budget & Approvals

April 2026

Secure internal budget allocation, formal approval, and contract execution

3

Develop Training Materials

April – May 2026

Majlis Energy finalizes curriculum, session plans, and workshop materials

4

Select Participant Cohort

May 2026

Ministry identifies and nominates specialist participants for each cohort

5

Establish Success Metrics

May 2026

Define KPIs, assessment criteria, certification and reporting structure