Uncover the oil trader where one can get your oil from. It is situated in Nigeria which is a government company which accounts for the sell and buy of Nigerian oil. You have to browse the whole want to know , to uncover how it operates.
NNPC may be the trader responsible for monitoring the drilling, production, trade of oil in Nigeria. It’s a government owned company. The entire concept of NNPC is Nigeria national oil corporation. Buying oil from NNPC isn’t an easy process especially if you’re a very first time buyer or if you don’t have huge funds. There are several needs to purchase oil from NNPC. They are listed below:
1. You ought to have a capital as high as $100,000,000
2. You ought to have a practical refinery or perhaps a prominent oil trader.
A hundred million dollars isn’t chicken money and you will have to be very wealthy so that you can own such amount of cash. NNPC restricts purchasing of oil to local and worldwide refinery and famous oil traders. When you meet the requirements, the next thing is to make contact with the marketing department of NNPC. It’s offices working in london and Nigeria. It’s as much as 3 offices from the NNPC in Nigeria or London. The first is found at Lagos others are in Abuja and Port Harcourt correspondingly. You can do this on paper for them or giving them a call on phone. Both of these processes might take time before getting an answer. You’re going to get faster response should you visit their office and satisfy the right department accountable for this specific issue.
In addition, when you’ll want passed NNPC due process, you’ll be given oil allocation. Prior to being because of the oil allocation, you’ll be needed to provide $a million performance bond via a first-class bank situated in Nigeria or abroad. Oil contracts that you’ve formerly performed may also be needed. The protocol for that sell or acquisition of Nigeria oil through this Nigerian government marketer is brain-cracking specifically for first-time buyers. You have to be organized to be able to pass their due process.