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Finding Sellers of Crude Oil and Intermediary Facilitators in Nigeria When a buyer must have made up his/her mind to purchase light petroleum and have the funds available, then there are few genuine crude sellers to purchase from.
The standard (grades) of crude petroleum varies and their prices vary as well. The amount of money can get up to 2 million barrels of petroleum.Buyers generally prefer to buy light grades to heavy grades because the light grades are lower in sulphur content, easy to refine, produce bigger volumes of diesel and other end products of crude oil. You will also need about 5 to 10 million USD for expenses. The reason is because they are many buyers of crude oil aggressively searching for available crude oil to buy mainly in USA and Europe.As long as cars and factories are concerned, crude oil will always be in high demand.This can either be done through bank to bank by means of MT799; irrevocable of Letter of Credit may also be used for payment, etc.The Price of Crude Oil from Nigeria One should bear in mind that Nigeria petroleum is sold in barrels.It is easy to buy petroleum through this set of sellers if the buyer meets a genuine seller.
Buyer will not go through the protocols required by NNPC and major oil companies.
The procedures for crude oil business appears to be very straight-forward process when both the buyer and seller are genuine.
There are, however, certain basic terms and procedures to know and follow to avoid problems and frauds.
: It requires the buyer to get a vessel while the oil is transshipped and everything is settled.
Method of Payment for Crude Oil in Nigeria Method of payment is usually through swift, or, wire transfer.
The procedures involved in crude oil business varies, however, they all appear to be very simple when both the buyer and seller are genuine.