Countries that are rich in crude oil are USA, Nigeria, Saudi Arabia, Russia, Iran, Kuwait, and some other Middle East nations. They supply oil and petroleum products to other countries across the world. Nigeria is known to be the most flexible and dependable oil supplier, but only if you are able to find a dependable supplier company.
Different Kind of Crude Oils:
When you are considering dealing with crude oil, the first thing that you should know is about the different varieties available. Some of the popular crude oil types are:
- Brent crude oil
- Bonny Light crude oil
- Forcados crude oil
- Saudi Light crude oil
Among the above mentioned crude oil, the most popular and the one that is widely in demand is the Bonny Light crude oil. The reasons for the popularity of this particular crude oil are:
- It is higher in API gravity
- It is low in sulfur content
- Low corrosiveness
- Refinery infrastructure
- Low environmental impact
Ways to Buy Crude Oil
When you are planning to purchase oil from a supplier, there are a number of procedures that you should follow. These procedures are made in such a way that it suits the requirement of the buyer. It is now possible for the buyers to sit in the comforts of their own home or offices, and write down the procedure that the seller needs to follow.
You will be glad to know that most of the sellers leave room for the purpose of negotiation, so that you get the fair chance of bargaining with the supplier.
We know that it is the NNPC that deals with crude oil in Nigeria, and it is with the help of the traders and the agents that they are able to find buyer. The NNPC does not fill the vessel with crude oil and wait for the buyer, the vessel is only filled if genuine interest for purchasing of crude oil is shown from the buyers.
It is really important that you do not think that the NNPC will start filling the vessels if you sign the SPA. Signing an SPA does not mean that you will be able to pay for the crude oil that you are ordering.
NNPC will not fill any vessel in your name. For the NNPC to start filling the vessels for shipment, it is necessary that you produce proof of funds or POF.
Make sure that you Deal Only with the Credible Suppliers:
When you are ordering crude oil from the supplier in Nigeria, it is important that you check the credibility of the supplier. If the supplier is not registered with the NNPC it is advisable that you do not go ahead with the deal.
You will also come across a number of sellers or buyers who have registered themselves on websites and online directories. However, it is important for you to do complete research about the suppliers before signing up the contract. Companies like the Seasif Petroleum have a very good track record as one of the best oil suppliers in the world. It is always safer to deal with such companies.