Vice President, Global Sales
Oil Price Information Service (OPIS)
Scott is an oil industry veteran with more than 30 years of experience covering spot markets, wholesale gasoline and diesel fuel markets, as well as industry news. He developed the OPIS West Coast Spot market report, whose spot prices have been the industry benchmark for over 20 years. Scott also travels around the country teaching fuel buyers the latest strategies on how to purchase fuel at the spot and rack level.
Fuel Supply Expert
Oil Price Information Service (OPIS)
Dolores Santos is one of the industry’s most respected executives, with 40 years of experience buying and selling fuel for some of the industry’s largest petroleum products companies, including Wickland Oil and New West Petroleum. Before joining OPIS, Dolores was Director of Supply and Distribution for Flyers (Nella Oil Company), one of the largest and most prominent jobbers on the U.S. West Coast.
"Helped me see the big picture much better and connect the dots on the various components of the fuel chain. Thorough and comprehensive review of the intricacies and challenges of fuel procurement and purchasing."
Before beginning our intensive work during these two days, we'll outline our key objectives, what we will learn, a summary of what is happening in the oil markets and how it affects your business.
The refining process is very complex and sophisticated – we’ll give you an easy-to-understand tutorial on how gasoline and diesel fuel are produced and how they get from the refinery to the rack and ultimately to the station or end-user tank.
Before you can learn to buy fuel smarter you must understand two key components of how racks are priced: the New York Mercantile Exchange (NYMEX) and U.S. spot markets. In this session, we’ll zero in on everything you need to know about the NYMEX.
Once you understand the NYMEX, we'll explain how spot markets work and why they are so important to a fuel buyer. We’ll detail the intricacies of the seven U.S. spot markets and who the big players are in each of those markets.
Rack price discovery began back in 1980, and although it has changed much in the intervening years, the bottom line is that nearly all wholesale gasoline and diesel fuel transactions are based on rack prices. We’ll define what rack means, who posts prices, branded vs. unbranded, spot replacement costs, how taxes work, and the impact of the changing fuel slate.
Retail is perhaps the most complex link in the fuel chain. We’ll explain the five major classes of retail trade, how retail prices are determined and the huge challenge retailers face from hypermarketers.
Here we take step one – choosing a supplier.
A rack benchmark is a cost basis that every fuel buyer needs to have and understand. The choices of which benchmark to use are numerous, and a bad decision can have very serious ramifications for the company’s fuel budget. Here you’ll learn:
More and more rack transactions are being done off a spot pipeline price. Understanding spot pricing is complicated, and we’ll break it all down for you. In this session you’ll learn:
We’ll take an in-depth look at how super jobbers buy fuel, and the unique challenges and risks that affect the way they do business and how they price fuel to resellers. Plus, we’ll discuss what many in the market are curious about – how do I become a jobber?
One of the most critical parts of any fuel buying plan is having a contract that works for you and your supplier. There are many key things that you need to be aware of in negotiating a supply contract. You’ll learn the key do’s and don’ts involved in creating and executing supply contracts and what you need to know both as a buyer AND a seller/reseller.
"This training de-mystifies how fuel markets work, and why. It was valuable to see the industry through the eyes of supplier, jobber, and end user."
Due to the exclusive nature of OPIS's Winning Fuel Buying Strategies event, OPIS is limiting the available sponsorships to one - A single sponsor whose brand and products/services will be the sole message that attendees are exposed to prior to, during and following the event.
This opportunity is offered on a first-come, first-served basis and will only be available to a single sponsor for maximum brand exposure. Once the Exclusive Sponsor is confirmed for this event, the opportunity will close and no further sponsorships will be sold.
For complete details on this focused marketing opportunity and pricing, please contact David Coates, Director of Conferences at firstname.lastname@example.org or (713) 305-0116.
REGISTER BY 1/26/18
REGISTER BY 2/23/18
REGISTER BY 3/22/18
"I would recommend this to people on all sides of the business, no matter how far invested or removed the individual may be from the actual buying of the fuel."
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Main Phone: 202-789-1234
Oil Price Information Service (OPIS) by IHS Markit believes there should be complete price transparency across the oil supply chain so that all stakeholders can buy and sell petroleum products confidently. We provide that transparency through educational courses, software tools, real-time news and pricing services, and market-specific benchmark pricing reports. Being a reliable information source with world-class customer service is important to us, as it helps fulfill our mission to enable customers to make smarter, more informed decisions. Navigating oil price volatility is tough – OPIS strives to make it a little easier. Learn more at www.opisnet.com