Third Edition of Definitive oil traders’ dictionary published

A sell-out dictionary of oil traders’ jargon, covering more than 2000 terms, definitions and abbreviations, has been fully revised and expanded. The third edition of Oil Traders’ Words, compiled by Stavanger-based Stefan van Woenzel, is based on almost 30 years’ experience in the oil business.

Stefan began his career with Vopak in Rotterdam in 1988, working in operations, customs and oil storage, then moved in 1999 to Stavanger and has worked for Statoil since then, as a trader in various types of oil, including gasoline and crude.

In 2006 Stefan became course leader for a trading training course. The course materials included a glossary of 30 words. This list grew over time and in 2010 there were enough words and terms for a 200-page book, which was used mainly for the training courses, but also sold about 50 copies in the wider market.

“The positive feedback I’ve received shows that this book is unique in the market and provides a much-needed reference for traders and operators to be able to communicate more clearly. I have tried to write it in language that’s easy to understand, and also inject a bit of humour into a fairly dry subject,” Stefan commented.

Stefan continued to collect trading terms, and in 2012 published a second edition of the book, now more than 500 pages, which sold into the thousands.

“The oil business is fast moving, constantly changing and traders and other operators need all the help they can get to stay up to date and increase their competence.”