We are allocation holder of Nigerian Light Crude Oil & Refined Petroleum Products.
We have allocation of 34 million barrels of Nigerian Bonny Light Crude Oil for 10 years with R&E on off OPEC. We regularly trade wide range of refined products, Aviation Jet fuels, Mazut M100 TYPE 75, D2 10ppm,500ppm, CST 280/380, Bitumen 60/70 and LPG. We buy products from three refineries in central of Russia. Aside from that, in a process of acquiring Jet A & Jet A1 allocation from a renown refinery in the United States. 30 years of network and relationship management has led us to a unique availability of huge amounts of refined petroleum products which we can lift at almost each port in Russia and a few outside Turkey. All our access point refineries are connected to the Russian pipeline network. Our grown relationship over decades to the American & Russian oil infrastructure brings us into the outstanding position that we can deliver higher amounts than the competitors in the market. We can combine several options and deliver large quantities. Our seller refineries have also built up all transportation and logistics facilities with charter companies on JV and partnership basis. This guarantees that they can deliver what they produce to Any Safe Port in the world.
As for our transactional history, we are selling fuel to various private large organizations. We are periodically trading Aviation Kerosene Colonial Grade 54 with FedEx & ExxonMobile. For our international transactions we prefer financial instruments from Prime banks such as UBS, HSBC, Standard Chartered, Barclays, Chase Manhattan, Citi Bank but would accept any other bank ranked in the Top 50's.
Our portfolio of buyers is sophisticated. We like to treat with serious parties that have a substantial track record in the industry and are credit worthy. One of our tasks as trader of refined petroleum products is to evaluate potential exit buyers before introducing them to our exist seller refineries, this in order to have smooth operation and all in the benefit of trilateral relationship. As often, potential exit buyers are represented by at least one intermediary, in order to get immediate transparency, we start always by signing a non-disclosure & fee protection agreement so that everybody feels comfortable enough to introduce us to their client or client’s mandate in case there are questions to be answered. Important to know that procedures offered are non negotiable.
• We exercise a Due Diligence on all exit buyers that are presented
• In case of Majors clients, we have to be able to trace that the request is actually coming from a Major itself.
• Transactions always start with a basic paper trail sent to Budget Petroleum Trading.
• Exit buyers sends to BPT their company profile along with LOI to proceed with the transaction.
For genuine exit buyers, the procedures are as follows and are strictly Non negotiable.
1. Seller sends Commercial Invoice to Buyer
2. Exit buyer signs Commercial Invoice, following draft term contract issued by the seller
3. Exit buyer's bank opens RWA communication to seller's Bank via Swift Message. Seller's Bank replies providing the Sellers confirmation of title, soft POP, DTA and SGS and sends Swift message to buyers bank with willingness to answer any questions regarding Seller through bank to bank communication.
4. Exit buyer's bank issues RIDLC for the spot & term contract. After confirmation of the instrument by seller's bank, seller issues DTA at exit buyer's expense. Upon successful Q&Q certification by SGS or any Independent International Surveyor Company, seller issues ownership transfer to exit buyer at loading port.
5. Vessel sails to ASWP Port
1. Upon receipt of exit buyer's ICPO, Seller issues Commercial Invoice (CI) to exit buyer.
2. Exit buyer signs CI and sends it back, seller issues draft term contract for approval and signature.
3. Exit buyer's bank opens RWA communication to seller's Bank via Swift Message. Seller's Bank replies providing the Seller's confirmation of title, POP, DTA and SGS via Swift message to exit buyer's bank.
4. The exit buyer then issues IRDLC for the spot amount & the term contract to seller's bank.
5. Within 24 hours or as agreed Seller issues DTA at exit buyer's expense, Upon successful Q&Q certification by SGS or any Independent International Surveyor Company, seller issues ownership transfer to exit buyer at loading port.
Delivery within 48 hours after confirmation of funds by seller's bank