We
are an international marketer of petroleum products,
focused on providing a comprehensive fuel and lubricant
offering to commercial and industrial industries. As
energy deal makers (mostly in D2 Gasoline),
innovation and customer service is the hallmark of our
success. Hence, our basic procedures when dealing with
oil related commodities is very simple:
We want immediate proof of product (PO) before going
to the banks and after signature of contracts and our
method of payment is a documentary letter of credit. In
some cases we would consider a transferable, but will
never give a divisible.
We do not do bank guarantees or standby letters of
credit. If proof of product cannot be given, the seller
may have the option of putting up a non operative
performance bond first.
We do reciprocate with Proof of Funds (POF), but only
between principals and will only deal with sellers who
are ready to provide documentation.
Regarding Financial Instruments (Medium Term Notes, Bank
Guarantees …) , we do operate through many “trading
platforms” as
our very sophisticated financial and industrial partners
won’t stand for anything less. As to our basic
procedures when dealing with such instruments, it
is equally very simple:
Buyers of such instruments have to provide the paperwork
FIRST. Until buyers understand this basic rule and
provide the Proof of Funds (POF) and the submission
documents first, any such transaction is a non-starter.
Banks literally cannot by law solicit and will not.
Our Mission in the Physical Commodities
Trading business is to become a major participant in the
global flow of oil and money resources by combining the
knowledge gained through our own diversified portfolio
of assets with the strength of our unique marketing
capability.
Our role on the other hand is to be the
most reliable and competitive partner that we can be to
businesses in the segments of the market which we serve
and to support these businesses as they expand and
develop.
