Things to know about buying and selling crude oil in Nigeria
Availability of Funds:
To purchase or sell crude oil in Nigeria, you would have to get a great deal of cash, typically multi-millions of bucks. This is the main reason many men and women find it hard to venture to the crude oil broker business.
Ordinarily, when a primitive oil purchaser suggests interest, they would have to show that the seller that they have evidence of funds.
If a trade is to pull through finally, the crude oil vendor having an allocation will also need to get the cash-value of this crude oil inside their bank account prior to the NNPC could send the crude petroleum. But because many crude oil sellers do not possess this any crude oil agents have the capability to increase the cash, and thus, source the crude oil on behalf of this crude oil vendor having an allocation, get the ICPO into their organization title, also leverage the crude oil vendor’s allocation in the NNPC to send the crude petroleum, while settling the initial crude seller together with the feasibility.
In case the crude oil dealer is able to get the cash in their bank account, the agent can negotiate a reduction per barrel offered on each barrel that’s successfully sold. It might be 50 cents per barrel, lower, or even a little more.
You would require a crude oil supplier:
As mentioned in the last stage, a crude oil purchaser is going to need to obtain a real crude oil vendor or crude oil agent in Nigeria to have the ability to transact faithfully. To confirm their validity, you would want to guarantee the crude oil vendor or crude oil agent could offer a proof of merchandise, while you the crude oil purchaser will offer a proof of money.
You Would Require a Crude Oil Buyer:
As a purchaser desires a vendor, a primitive oil vendor also wants a oil purchaser. The fantastic thing is crude oil buyers are constantly searching out for real crude oil vendors, and if they do find one, they like to get a long-term contract which spans through many decades.
You might also supply crude oil buyers yourself by reaching out to them via their business contact details.
