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Participating in crude oil trading as with most serious undertakings, requires  that you have a working knowledge of the industry and a fairly decent understanding of business transactions per se. Crude oil trading typically involves vast amount of money and if not managed significant risks. Most of the risks fall into the category that can be hedged by a variety of financial instruments and whilst never guaranteeing a profit, they certainly prevent a catastrophic loss. In fact most financial counterparties and lenders would mandate the use of such instruments.

Those are not the risks I am contemplating. There is an increasing number of fraudsters purporting to have access to Nigerian crude at ridiculous discounts. Needless to say Nigeria very rarely if ever discount her equity crude and has no reason to do so. Many of these fraudsters will classify the crude as  'off OPEC' or offer transhipment as a method of delivery.

Such offers are made for grades such as Bonny Light or BLCO and invariably come with complicated procedures requiring the Buyer to provide Q88, Charterparty Agreements and banking documents. Many pose as Mandates for the Seller.

If you have been approached by parties purporting to have Nigerian crude and are uncertain, please feel free to contact us. We will confirm any such contracts within a matter of days

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