Tips To Purchase Crude Oil

Crude oil sellers can be found in oil producing countries like Russia

, Nigeria, Saudi Arabia, Kuwait, Iran, Iraq, Angola etc. They are three types of crude oil sellers where you can purchase your petroleum. They are namely:

1. State sellers

2. Private sellers

3. Independent sellers

1. State sellers: They are government companies. This set of sellers can easily be found in Russia, Nigeria, Saudi Arabia etc. An example of a crude oil state seller is referred to as NNPC. This type of state sellers can be found only in Nigeria. It also has office in London. Petroleum bought from this type of seller is usually sold in market price. Buying petroleum from state sellers is not easy. This is because you will need to show a certified document or verifiable proof of your crude oil previous transaction history. This is bad news for first time buyers. As for first time companies, this will not be easy for them to get. The best way to purchase crude oil through state sellers is to do so through registered or genuine crude oil agents or facilitators. They make this process easy due to their strong connections. If you do not like this idea, then there is still option to go direct to NNPC. This might be complicated but it is a bad idea to try. You may need a capital of up to $100,000,000 USD to transact with state sellers.

2. Private sellers: BP, Total, Shell, Chevron etc are private sellers. These are renowned companies with huge assets. They have oil drilling and oil selling facilities. As such, buying petroleum from them whether heavy or light petroleum is attainable. The first step you should take to buy petroleum from them is to visit their head office or branch office. They offices are in developed countries. Their receptionist will walk you through the whole process. The option of contacting them to show your interest using their email address made available online is a slow process. Most times it does not work because they may mistake you for a fraudster.

3. Independent sellers: independent sellers either buy from private sellers, state sellers or get their petroleum through oil allocation. Some independent sellers are compensated with oil well by the government. An example of independent sellers is Eze Arthur from Anambra State, Nigeria. It is easy to buy petroleum through this set of sellers if you buy a genuine seller. You will not go through the protocols required by private and state sellers. You will not even need to show a minimum fund of $100,000,000. As long as you can prove that you have funds to pay for the oil, this process is easy. You should also bear in mind that there is risk involved in buying petroleum from these sellers.

by: Osita Modozie

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