Let me take time to explain how things really work here in Nigeria with regards to off-OPEC transactions.

Real sellers of Nigerian bonny light crude oil will not let the general public know who they are.  It would put them at considerable personal risk. Since the privatization of the oil industry there are multiple sources.

A seller’s agent will never let you know who his seller is because as a buyer you will just do an end-around on him and leave him out of the income cycle. 

The real sales of sweet crude oil are made on the streets first. It is like the trading floor of the New York Stock Exchange only without walls and electronics.  This is a person to person business.

If you want to buy oil from Nigeria then knowing the right people, not the ones that are so prevalent (the crooks) is absolutely essential to get to the first step in any transaction. Once you have found a real oil seller, any deal has to have government approval.  If you think you have a crude oil deal and yet do not have the support of those in government then you can not complete delivery.  Once again, if you do not know the right people with significant influence you will never be able to take delivery.

The NNPC is the front door. The NNPC owns no oil but it is charged with the responsibility to transact every drop of crude that leaves the country.  They publish procedures and if you go direct to them you can get it done if you are a refinery or have several sales already completed and can make a commitment to invest some of your profits into Nigeria’s growing economy. Otherwise forget it

This is the back door... You must find a politically connected entity that, with a phone call, can get crude oil released to them to sell.  This may not seem fair but every government in the world works this way.  Those that govern make advantages for themselves.  For instance, in the USA it is illegal to do insider trading.  But if you are a congressman or senator it's legal. 

Know this, there are those that have or do work for the government that will announce that every notice of available oil is fraudulent unless if comes from the NNPC.  That is only partially true. The fact is that if someone says they have oil available you had better check all of their documentation through the appropriate government offices. The fact is that this back door only works if you are the end buyer and can prove you have the capability to financially get it done.  Bottom line the only crude that comes out this way is already sold.  Nobody is sitting around with a boatload of oil waiting for a buyer to show up.  Just like nobody is sitting on 10 or 100 kilos of gold waiting for a buyer to show up so they can offer them a discount.  This is all done quietly with personal contacts.

Nigeria is the fifth-largest exporter of oil to the United States. So transactions are actually going on. Somebody knows how to get the job done – to complete transactions where EACH side’s interests are protected.  Every now and then you will find an oil facilitator that knows who the real sellers of BLCO are, has the political connections to push through a transaction and requires proven honest shipping concerns that can do delivery in the actual quantity and quality that is being paid for.

If you are looking for such a facilitator, then please feel free to forward us a formal LOI, and we will take it from there, procedurally and contractually.

Regards,

Uche Nwosu
Eastern Union
Email: easternu9ion@gmail.com
Phone: 08030653233