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Trading & Risk Advisory

Is This a Good Time to Hedge Oil Prices?

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The energy industry has endured two hard shots: the pandemic and breakdown in OPEC+ supply restrictions.  The firms that succeed on the other side will be those that learn...

Trading & Risk Advisory

What Do Negative Oil Prices Mean?

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In the midst of all the personal, health, economic, and industry upheaval that we’re experiencing, we never expected to hear this: oil prices have increased over $40/barrel...

Trading & Risk Advisory

Four Components of Credit Risk Analysis

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Among commodity trading organizations, there is an unexpectedly wide variety of internal credit risk analysis processes.  Many firms measure less than is prudent given their...

Trading & Risk Advisory

Market Relationships: The Foundation for Risk Analysis

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Modeling the relationships between markets is sometimes underappreciated as a prerequisite to solid risk analysis.  Market relationships reflect linkages between markets that...

Trading & Risk Advisory

Should I Obtain the GARP ERP Certification?

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As a holder of the Global Association of Risk Professionals (GARP) Energy Risk Professional (ERP) certification, people often ask me whether they should obtain it. As with most...

Trading & Risk Advisory

How PCAOB Changes Will Influence Your Organization's Audits in the Next Five Years

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For public and private companies alike, an external audit is a normal component of operating the business. It is also integral in confirming the operational and financial...

Trading & Risk Advisory

Refinery Risk Management and VaR Modeling

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This is the third in a series of VaR blogs. The first, Value at Risk: Overview and Benefit Case, provided an introduction to Value at Risk (VaR). The second, Successful...

Trading & Risk Advisory

Successful Implementation of a VaR Solution

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An earlier VaR blog, Value at Risk (VaR): Overview and Benefit Case, provided an introduction to Value at Risk (VaR). We critiqued “industry standard” VaR definitions, reviewed...

Trading & Risk Advisory

Management and Optimization of Real Options in the Energy Supply Chain

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What are Real Options?

Understanding and optimizing real options within your business can unlock massive value, which in many cases is being overlooked or underestimated. This...

Trading & Risk Advisory

Value at Risk (VaR): Overview and Benefit Case

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The VaR Mystique

Value at Risk (VaR) is surrounded by mystique and confusion in the Commodity Trading and Risk Management industry. This confusion complicates its use, due to...

Trading & Risk Advisory

Foreign Currencies: Fundamental Fx Accounting Concepts and Implications

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The energy industry is truly global. The location of the buyers, sellers, and the actual commodity can be in any corner of the earth. It is without question that the purchase...

Trading & Risk Advisory

4-Step Process to Create an Energy Inventory Management Program

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Inventory. The lifeblood of many companies in the energy industry. For certain companies, it can also be a source of pain and frustration. The adage “it’s simple but not easy”...