Oil & Gas
We acquire and sell crude oil and refined petroleum products as principal buyer and seller, with transfers at storage hubs in the United States, Europe, and Asia.
Products
Specifications, quantities, and delivery terms are confirmed in each contract.
Diesel EN590 10 ppm / ULSD
Ultra-low sulfur diesel to EN 590 specification, used in transport, industry, and power generation.
Jet A-1 (JA1)
Kerosene-type aviation turbine fuel for commercial aviation.
Virgin D6 fuel oil
Heavy residual fuel oil, No. 6 grade, used for power generation and industrial boilers.
Light crude oil
Low-density crude oil supplied as refinery feedstock.
LNG
Liquefied natural gas for power generation and industrial fuel.
Transfer methods and locations
TTT
Tank to tank
Product moves from the seller's tank to the buyer's tank at the terminal.
TTV
Tank to vessel
Product is loaded from terminal storage onto the buyer's vessel.
TTO
Tank takeover
The buyer takes over the seller's storage tank, with the product in place.
VTT
Vessel to tank
Product is discharged from a vessel into the buyer's storage tank.
Transfer locations
Houston
Gulf Coast, United States
Rotterdam
Netherlands
Jurong
Singapore
Malaysia
Southeast Asia
How a transaction works
Every transaction is structured so that neither party is asked to take risk before the other has performed.
- 01
Counterparty review
Know-your-customer, anti-money-laundering, and sanctions checks on both parties.
- 02
Contract
Product, specification, quantity, price, and transfer method are set in a sales and purchase agreement.
- 03
Terminal verification
Product is verified directly with the storage terminal. No advance fees are paid.
- 04
Settlement and transfer
Payment and transfer of title are coordinated through the agreed instrument and transfer method.
Settlement
Settlement is made bank to bank. Instruments, issuing banks, and required documents are set out in each contract.
First lift
MT103 / TT
Payment by direct bank wire, sent as a SWIFT MT103 telegraphic transfer.
Term contracts
SBLC (MT760)
A standby letter of credit, issued by SWIFT MT760, that secures payment over the contract term.
Term contracts
DLC (MT700)
A documentary letter of credit, issued by SWIFT MT700, that pays against agreed documents.
Compliance
Full adherence to U.S. anti-money-laundering and sanctions requirements, in every transaction.
Counterparty screening
Know-your-customer and sanctions checks before any commitment.
Non-sanctioned counterparties
Import and export only with non-sanctioned counterparties.
No advance fees
Neither party takes risk before the other has performed.
Direct verification
Product is verified directly with the storage terminal.