Refining and Market Analyst (Oil)
£40,000 - £45,000 + bens + bonus
The primary responsibility of this role is to support and proactively contribute to the fundamentals market analysis produced by the team with focus on the evaluation of crude oil/refined products values, their quality, developments of the refining industry. Such goals to be achieved by development of models and reports and sharing results with for the internal customers.
These activities will be performed under the leadership of the manager and working closely with the team and other departments, in particular Front Office, Upstream Marketing, Origination, IT and other Market Strategy teams.
This is an office based job which may require business travel within and outside of UK.
MAIN JOB FUNCTION:
- Conduct insightful economic analysis of crude oil refining values both as single crude and as a part of a mix, constantly monitor crude oil netback and refining margins in various market areas with particular focus on equity productions.
- Comparison of various crude oils from a refining point of view, highlight the main elements which determine their marketability and market value; build models to perform such activity
- Develop, implement and back test short and long term global refining industry outlooks, including: global and regional changes in capacity levels, changes in crude and other feedstock, impact of planned and unplanned maintenances, total production rates by major product groups, global and regional trade balances and the general industry margins and profitability trends.
- Monitor and assess an impact of international regulations on the global and regional refining business.
- Suggesting and supporting implementation of continuous software/IT enhancements required to improve.
- Analysis activities in terms of quality and efficiency.
- Maintaining updated energy market statistics, including worldwide crude oil production/demand and expected future developments. Develop, maintain and improve refined products demand/supply balances and forecasts by product type.
- Prepare well written and illustrated documents and presentation material upon request from Management and internal customers. Helping and advising internal customers about crude oil / refined products profitability and suggesting potential trading strategies / upstream investments.
KEY RESPONSIBILITY AREAS:
- Perform daily activities as requested by his/her superior and maintain a proactive attitude to achieve individual and team goals.
- Contribute to communication flows between the team and the other desks
- Contribute to the Company's short and medium term global refining industry outlook, including: global and regional changes in capacity levels, changes in crude and other feedstock, total production rates by major product groups, global and regional trade balances and the general industry margins and profitability trends.
- Utilize, adjust and maintain economic evaluation models for different crude oil in different markets to allow appropriate evaluation of the specific refining value evolution of crude oils.
- Build relationships with key stakeholders across the internal customers to guarantee steady information flows.
- Maintain crude oil and products price/balance monitoring by crude/product type in each region to serve as the basis for the evaluation of both trading activities and industrial projects.
- Effective communication, including design of tools and layouts to share focused and time critical data with the management, trading desks and other internal customers.
- Regularly follow up on refining market trends and new developments. Monitor and assess the impact of international regulations on the global and regional refining business.
- Propose robust and accurate solutions for resolving data analysis problems including make or buy decisions in terms of statistics/data.
- Prepare ad hoc material and presentations for management as and when required.
- Contribute to the regular and ad hoc analysis flow to support upstream affiliates activity by evaluation of equity grades and their specific market dynamics from a fundamental point of view.
- Conducts reviews of industry business developments, trends, and economics.
The role requires:
- Strong academic background: preferably a Bachelor degree in Chemical Engineering / Economics or related specialty from a leading university;
- Fluent knowledge of English language (written & spoken);
- Knowledge about available data sources / information providers;
- Good knowledge of market dynamics and different type of prices/pricing benchmarks (physical, forward).
- Highly organised, structured and analytical thinking: ability to define problems, collect data, establish facts and draw valid conclusions in a timely manner. Works effectively and responsibly on both regular/structured and relatively unstructured tasks.
- Strong quantitative capability, programming and software expertise. Fundamental modelling experience
- Excellent Excel/VBA, Power Point skills. Python knowledge appreciated.
- Strong written and oral communication skills. Ability to communicate complex technical, economic and commercial concepts in a clear and succinct manner.
- Inquisitive mind and keeping abreast of topics that affect the evolution of refining markets.
- Being a team player, but at the same time ready to take responsibility while respecting internal roles. Ability to establish strong co-operation with internal stakeholder.
- Ability to build and nurture effective relationships internally and externally; flexibility and adaptability to work in a rapidly changing environment. Self-disciplined and stress resilient
- Honesty and integrity;
- Ability to work in an international, multi-locational organization. Having worked in an oil major or a trading environment would be an advantage.
- Fundamental Analysis
- Market Analysis