People that sell light crude oil are persons who have been given oil allocation by NNPC. NNPC simply means Nigeria National Petroleum Corporation. It is a company owned by the federal government of Nigeria which administers the buying and selling of petroleum. We have a lot of crude oil sellers in Nigeria, but the challenge there is the ability to find genuine and verifiable sellers.
The business of dealing in crude oil is a prosperous and flourishing one as long as cars and industries are concerned. People who purchase crude oil from various countries would want to reach sellers in Nigeria to enable them to buy bonny light crude oil (BLCO). It is an accepted ideology that when there is a huge success regarding a type of business, there is likely to be fraudsters on the run. They will claim they want to help the buyer and end up duping them. It is a known fact that some of the available buyers have been duped by these unscrupulous scammers. It requires extreme caution and thrifty meandering to enable a buyer transact with a real seller without getting duped.
Below are cool ideas you need to follow in order to successfully buy crude oil from Nigeria without getting duped.
1. It is NNPC that gives oil allocation to firms and there exist a way which you can use to verify the status of any allocation by using NNPC offices in Bonny, Lagos, Abuja or London. The first step you should take is to demand the seller’s allocation info in order to verify it. If the seller is not able to deliver this, then there is a chance that the seller may be a bogus one. Nevertheless, it is not every seller that is not able to provide their allocation details will be regarded as a fake one. The reason is because some sellers buy from people who have gotten allocation from NNPC and thus they are resellers. You should read on to discover the way to verify resellers.
2. If a seller requires you to commit any amount of money prior to the conduction of QnQ, then he is likely to be the leery type. Why should you give money for goods if you have not tested and confirmed their specs? It is an expected fact that prior to buying a product that you need to ascertain their quality. You need to keep this tip on your mind always. Some will tell you to pay an upfront or clearance fee prior to sailing the vessel to your preferred location for the Q&Q. You need to be very heedful here.
You should ask the seller to provide their cargo details if he tells you that it has been authorized and ready to be sold. Documents like CPA, ATL and q88 should be surrendered so you can be able to authenticate this claim.
Additional stuffs to look out for are Seller’s Export Schedule, Export declaration of customs, Transport / delivery confirmation, Seller’s Authority to re-sell and Port/Terminal confirmation of lifting schedule.
Source by Ositadimma Muodozie