MOST SUPPLIERS PROVIDE NO VERIFIED OR VERIFIABLE PROOFS OR SOURCES
In world oil deals involving the crude oil and petroleum products trading, especially in the so-called international “secondary” market, probably the single most fundamental and most thorny common problem which legitimate buyers frequently confront today, is the issue of the genuineness and authenticity of the supplier of product and the sales offer he presents. The central source of that problem can be summed up in one word – namely, most persons or entities who claim via the Internet to be oil or petroleum products suppliers or “sellers,” or to be suppliers of other similar commodities, either provide NO proofs or evidence at all of that, or provide proofs or evidence that are often absolutely meaningless because they’re unverified and unverifiable. Put very simply, for the serious or credible Internet buyer involved in the world oil deals seeking to find genuine suppliers, there are generally just NO duly VERIFIABLE authentic oil and petroleum products suppliers or trade offers in the so-called “secondary” market.
For the serious oil buyer, the problem is particularly acute and compounded by the fact that almost all “sellers” (or suppliers), or their brokers or intermediaries, that one meets on the Internet, are essentially unknown, unestablished dealers who lack any name, reputation or identity, or any known location on the planet, and lack any record or history of past performance in doing the business. In consequence, the serious buyer is often being asked — and actually being realistically expected — to, in effect, merely take “the word” of some dubious, anonymous, unidentified and apparently unidentifiable, phantom “seller” or “supplier” for it, with no credible supporting evidence provided, and no verification or authentication whatsoever of the Internet seller’s offer or claims. He’s being asked — and actually being expected — to risk, or, rather, to gamble away, his hard-earned mini-fortune of some $200 million merely on such a “word.”! This, it should be added, is being expected of the buyer in a business environment and climate that is patently awash in fraud and a network of notorious scammers worldwide!
THE BASIC CREDO OF THE BUSINESS
Yet, probably the most sacred, inviolable credo of any respected experts or trading practitioners ‘in the know,’ is that no responsible buyer (or seller) may seriously entertain or consider a trade offer UNLESS he has first examined and verified it to be genuine, and first confirmed that the party selling or supplying it is real. In sum, when it comes to the business of world oil deals, finding authentic petroleum products suppliers that can provide some credible tangible proofs or evidence of being one, and which are actually verifiable, is the central, Number #1 need and requirement of any prudent and credible buyer. Today World Info
As Davide Papa, a respected expert on the proper methodology and procedures of modern trading and the co-author with Lona Elliot of “International Trade & Successful Intermediary,” put it: “The golden rule of trading is this: never offer goods to anyone unless you [as a trader or an intermediary] have verified personally that the goods are genuine. Never!” Elaborating, Papa adds that “you are not allowed to trade on goods offered by another intermediary in undisclosed form – this means if you secure a supplier, or an intermediary gives you an offer, YOU must know who the supplier is, or there is not [a] deal… [This is primarily so, because it is only] once you have the details of the supplier, [that] you can then begin to check the [information concerning the supplier],” drawing on your training and knowledge to do the essential due diligence required and to interpret the information gathered to determine whether you are dealing with an AUTHENTIC supplier in possession of goods, or simply another fake or confused intermediary masquerading as a seller or supplier of goods, or as a seller of another fake or confused intermediary seller.
FIND THE SELLER FIRST, THEN THE BUYER
In deed, knowledgeable experts and successful trading practitioners who have made a huge success of trading in oil and other commodities, go a little bit farther. Namely, they advice that not only must you never seriously entertain or consider a petroleum trade deal or offer UNLESS you have first adequately verified it to be genuine, and first confirmed the end-seller to be real, but that as a competent businessman and trader, you must make that your first priority and get that accomplished FIRST, before you may seek to secure a buyer. That is, the doctrine is that for a good and informed trader (or intermediary), if you are ever to be successful in the business, you must seek an authentic supplier, FIRST, and secure one; and ONLY then, after you’ve first secured such a supplier, should you then turn to search for a credible buyer next — the proper and fruitful order it should always go. That you NEVER should, in short, secure a buyer first, and then search for a supplier.
Why should it follow such chronological order? Because, according to experts and successful traders, in world oil deals and the refined petroleum products industry, the business is often the “seller’s market” where it is often generally harder to find the authentic petroleum products suppliers that actually have the product to sell, than to find buyers needing to buy them — a phenomenon that is even far more true and more acute in respect to finding sellers for products like the Nigerian BLCO, which is the brand of crude viewed in the industry as the “gold standard” having the most coveted and highest quality specifications of crude and is always in great demand.
One expert, for example, with vast practical experience in this, Davide Papa, who has expended several decades of efforts trying to find even one authentic BLCO supplier but without success, pointedly makes the point that first finding oil Suppliers and having an assured verified supply in hand, and then seeking end buyers, is “how it works [and should work] for very good reason – I have never seen ONE real Bonny offer in 25 year – hundreds/thousands of fakes.” Papa adds that, in any case, “This has to be the case because real suppliers are simply very hard to secure for anything – so many ill-informed sellers are also offering fake products – thinking that ‘If they can find a real end buyer, they will get supply’ – nonsense.”