1. Sophie Stampfli, Céline Vo and Sylvain Morel 1

2.  1 st presentation : Daniel Loeffler – Promotion économique  2 nd presentation : Ina Stumpe – Litasco  Remind of the code of conduct  Trading vocabulary list Sophie Stampfli, Céline Vo and Sylvain Morel 2

3.  The mission of the company is :  To attract foreign companies  To collaborate with other cantons  « Conditions » to start a company  Different phases implicated by the promotion of foreign directing investment :  Exploration phase  Implementation phase  Animation of the network 3 Sophie Stampfli, Céline Vo and Sylvain Morel

4.  Attractivity of Geneva :  Attractive framework conditions  Quality of life with efficient infrastructures  Highly skilled with a multilingual workforce  Values linked to Switzerland  34,000 people in financial sector and 6,000 in trading industry  Geneva and trading activities  Heart of Europe  Easy access and International airport  Hosts global commodities events  Competitive frameworks conditions 4 Sophie Stampfli, Céline Vo and Sylvain Morel

5.  2009 – crisis year  Interesting year  Prospection on the US market slowed down  Growth of prospection in China  Tax for higher revenues in England  2011 – debt crisis  Strong Swiss Franc  European pressure on Swiss taxes  Uncertainty 5 Sophie Stampfli, Céline Vo and Sylvain Morel

6.  About Litasco  Belongs to Lukoil  International oil trading and supply company  Founded in 2000 in Switzerland  Litasco value add area  Shore tanks  Sea transport  Delivered to end customers 6 Sophie Stampfli, Céline Vo and Sylvain Morel

7.  Trading  A changing environment  A consequence of regional demand and supply imbalances  Producers vs consumers  2 quotations for the oil barrel  The European quotation : Brent ($ 110)  The American quotation : WTA ($ 85)  3 typologies of companies  Only trading focused  With an asset base  Financial houses 7 Sophie Stampfli, Céline Vo and Sylvain Morel

8.  Respect for guest lecturers  Late arrival, please come after break time  Laptops cannot be used during in the class  Take notes and ask questions to speakers  More than 10% absenteeism will be penalized  Absences must be excused 8 Sophie Stampfli, Céline Vo and Sylvain Morel

9.  Hedging : reducing or controlling risk  Spot market : commodities or securities market in which goods are sold for cash and delivered immediately  Incoterms (International Commercial terms ) : rules that govern international trading terms in respect of delivery and insurance  WTI (West Texas Intermediate) : type of crude oil used as a benchmark in oil pricing  Pipeline : a long pipe, typically underground, for conveying oil, gas… over long distances 9 Sophie Stampfli, Céline Vo and Sylvain Morel