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Fighting Fraud in the Petroleum Products Market: Basic Principles and Methods of Checking Counterparties
The oil products market, where huge sums of money are involved and numerous intermediaries are active, unfortunately attracts not only serious participants, but also fraudsters who are ready to use it for their own benefit. These fraudsters pretending to be buyers, sellers, oil storage facilities or logisticians break the law and cause serious damage to
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The basis of a successful transaction: Correct document flow. Sample documents.
When conducting international transactions for the supply of petroleum products, correct and clear document management plays a crucial role. Effective documentation not only ensures the safety and legality of transactions, but also minimises risks and conflicts between the parties. Correctly drafted documents are the basis for guaranteed fulfilment of transaction terms and prevention of possible
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History and modern methods of oil refining: from feedstock to petroleum products
Refining petroleum is a complex process that has undergone significant changes throughout history. From antiquity, when oil was used for lighting and lubrication, to modern technologies that produce a wide range of valuable petroleum products. Let’s take a look at the main stages of modern oil refining in refineries. The main stages of crude oil
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Global Oil Logistics: Ships, Fleets and Tracing. Tips for Traders.
In the world of oil and oil products trading, an efficient transport system plays a key role. From the oilfields to consumers around the world, oil moves in huge volumes, and the main method of this movement is by sea in specialised vessels known as tankers. In this article we look at the variety of
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Transactions with petroleum products: Deciphering key terms and abbreviations
Welcome to the world of petroleum products trading, where the language of business is not only words, but also acronyms, terms and abbreviations. In the process of concluding deals and executing documents in this industry, specialized terms and abbreviations are often encountered that can cause confusion for even experienced professionals. That’s why we’ve compiled this
