Certainly, crude oil
trading and dealing in its derived products has always been a money-spinning trade.
This is because it is the market of sellers, which means it is conquered as
well as dictated by the seller's entrance instead of the buyers. Thus, it would
not be wrong to say that selling the product is not a tricky all the time when
it comes to dealing in crude oil. At the identical instant getting share of the
products still remains most complicated fraction with elevated entrance of
hurdles.
Nearly the entire oil bought or sold in
open market is from OPEC which is known as Organization of Oil Producing &
Exporting Countries. In particular the Nigeria National Petroleum Corporation, usually
recognized as NNPC, trades great part of its hoards in the open market. If you
are interested to deal in such products, you might be thinking how you can get share
from NNPC. Well, you will require having the below mentioned for obtaining a chance
of getting share from this government organization:
Ø Funds:
Without any doubt it is must to have. You will require having finances more
than 100 Million dollars and presenting the evidence of such funds to National
Petroleum Corporation.
Ø Performance
Bond: Not merely the funds, but you need to provide a performance
bond of 1 percent (1 million dollars) as a minimum of the above sum.
Besides this you are also likely to be
a local or a global oil processing plant. In case, if you do not have any of
these, then you must be a well known dealer in the Oil industry as a minimum.
If you are not able to be eligible to
meet the above talked about measures, there is one more approach to obtain crude
oil trading. You can now opt for acquiring from the individuals who acquire the
share from NNPC. However, you will need to shell out a premium above the sale
price of NNPC.
By getting hold of ownership of the
shipment For Oil Trading
you can get two options. Here, you can come to a decision to stock up the goods
at a tank terminal and later on vend it as a split mass cargo if a price climb
is predictable. In order to keep your risk to least, you can also opt for
selling the whole cargo in one go. However your earnings limits in such case
will be compact.
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