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VAT on Virtual and Online Programmes

VAT is applicable on virtual programmes to delegates attending from the UK*. If participating from the EU, a valid VAT number is required to ensure VAT will not be charged under the reverse charge mechanism. VAT is not applicable to attendees from all other countries.
*For virtual courses ran through our Asia office, VAT may be applicable to HK and Singapore residents only. Find out more by contacting


Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.

Claim the VAT that's rightfully yours in four simple steps:

1. Register your interest

2. Sign a few simple documents

3. VAT IT processes your claim

4. Receive your refund

Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 

Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.


You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

International Oil Trading

Explore physical and financial oil trading & understand the market
  • The course will be delivered virtually using video conferencing technology. For more information please contact

    The International Oil Trading course uses state of the art simulations to allow delegates to experience first-hand aspects of trading covered in the course based on real historical events.

    Course material uses up to date issues facing the industry today to illustrate the principles being taught and is led by a trader with 25 years experience who is still actively trading in all of the markets that are discussed in the course

    Course Objectives:

    • To equip delegates with a thorough understanding of all aspects of physical and derivative oil trading and risk management
    • To allow delegates to appreciate the fundamentals that have historically faced the oil industry and the new issues that face the industry today
    • To help delegates understand international trade flows of crude oil and oil products and how the industry differs regionally
    • To teach delegates how to set up a trading business, and best practice methods of running a physical trading and risk management business in todays regulatory environment
    • To give delegates an appreciation of how oil interacts with other energy and agricultural commodities as globalization of commodities becomes an increasingly important factor to traders.

  • This course will run using video conferencing technology.

    To find out more, please contact

    The course will run over distinct sessions each day, allowing for regular intervals.

    The course will start at 9am BST (British Summer Time - UK)
     Day 1 - Morning Session - 3 Hours


    Oil Exploration and Production
    • Finding hydrocarbons summary
    • Exploration commercial issues & risks
    • Major New Oil & Gas Development areas
    Physical Crude Oil
    • OPEC and Non-OPEC Supply
    • Shale Oil and Gas and how they have changed global markets
    • Pricing Methodologies
    • Crude Oil Marker Grades
    • Price Reporting Agencies
    Crude Oil Assays including a crude oil assay exercise

    Day 1 - Afternoon Session - 3 Hours
    • Oil Demand
    • CoVid 19 and its effect on the energy markets
    • Physical Oil Contracts
    • Introduction to risk management, paper trading and hedging
    • Derivative Trading instruments
      • Futures Trading
      • Futures Clearing
    • Introduction to styles of trading
    • Flat Price Trading

    TRADING SIMULATION 1 - Trading Flat Price 1 Hour

    Day 2 - Morning Session - 3 Hours
    OTC Derivatives
    • Swaps
    • OTC Clearing
    • Options
    General Principles for a Trading and Hedging Strategy
    • Risk Profile, Risk Appetite and Market View
    Compliance Issues
    • The Dodd Frank Act , MIFID II
    • Front Office, Middle Office, Back Office
    • Risk Measurement

    Oil Refining
    • Refinery configurations
    • Variations in Yield: Configuration, Mode, Crude Type
    • Refining margins & economics
    • Refining Linear Programme
    Day 2 - Afternoon Session 3 Hours

    • Oil Fundamentals Revised
    • Shipping and Arbitrage
      • Worldscale
      • Physical and Financial Arbitrage
      • Freight Forward markets
    • Introduction to styles of trading
      • Spreads and Arbitrage Trading

    TRADING SIMULATION 2 - Trading Time Spreads and Arbitrage 1.5 Hours

    Day 3 Morning Session 3 Hours
    The Oil Products Markets
    • LPG
    • Gasoline
    • Kerosene
    • Diesel
    • Fuel Oil
    • Ethanol and the RINS markets
    • Biodiesel and the Vegetable Oils Markets
    Emissions and Carbon Markets 

    Day 3 Afternoon Session 3 Hours


    • The dual role of naphtha
    • Steam Cracking and the global plastics industry

    Introduction to styles of trading
    • Spreads and Cracks Trading
    TRADING SIMULATION 3 - Trading Cracks 2 Hours

    Course Wrap Up

  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run as an In-house or Tailored Learning programme


  • Andy Mills


    Andy is a highly experienced commodity trading and risk management professional with a demonstrated history of working across commodities. Skilled in Portfolio Management, Commodity Risk Management, Consultancy, Training and Proprietary Trading. Andy has worked as a Trader for BP, UBS, Engen Petroleum, Oak Commodities, Graham Capital and as a Trader and Head of Oil, LNG, Biofuels and Soft Commodity Trading for RWE. He has extensive experience in business development and advisory functions for Trading and Broking Companies and has set up new commodity cleared instruments working closely with major exchanges to do so.