Table of Contents Executive Summary i 1.0 Introduction 3 2.0 Methodology 4 3.0 Features of a supply chain 6 3.1 Supply security 3.2 Supply chain components 3.3 Market participants 3.4 Petroleum market generic features 3.5 Trade flows and arbitrage 3.6 Contracting in the petroleum market 10 3.7 Supply Chain Timeframes 12 3.8 The influence of demand 13 3.9 The role of inventory 13 4.0 Supply chain processes (the levers) 15 4.1 Crude oil sales, trading and 16 4.2 Refining, product sale, trading and supply 19 4.3 Domestic storage and managing market demand 23 5.0 Disruption events and response 26 5.1 Crude supply 26 5.2 Refinery and product supply disruption 29 5.3 Shipping risk 33 5.4 Financial market risk 34 5.5 Domestic disruption 34 6.0 Resilience and the changing Australian market 38 6.1 Refinery closures 38 6.2 Commodity traders 38 6.3 Resilience of commodity traders 40
Table of Contents Executive Summary i 1.0 Introduction 3 2.0 Methodology 4 3.0 Features of a supply chain 6 3.1 Supply security 3.2 Supply chain components 3.3 Market participants 3.4 Petroleum market generic features 3.5 Trade flows and arbitrage 3.6 Contracting in the petroleum market 10 3.7 Supply Chain Timeframes 12 3.8 The influence of demand 13 3.9 The role of inventory 13 4.0 Supply chain processes (the levers) 15 4.1 Crude oil sales, trading and 16 4.2 Refining, product sale, trading and supply 19 4.3 Domestic storage and managing market demand 23 5.0 Disruption events and response 26 5.1 Crude supply 26 5.2 Refinery and product supply disruption 29 5.3 Shipping risk 33 5.4 Financial market risk 34 5.5 Domestic disruption 34 6.0 Resilience and the changing Australian market 38 6.1 Refinery closures 38 6.2 Commodity traders 38 6.3 Resilience of commodity traders 40
htresiliencereport2014.docx