Author: Stan Edom

The Reality Of The Nigerian Crude Oil Trading Industry

by Stan Edom Stan Edom No Comments

Buying crude oil from Nigeria can be very tricky and dangerous on the part of the refinery. The volatility of the industry and its extreme profit potential has created room for fraudsters to go on a scamming spree. This is why it is highly unadvisable for refineries to seal deals via phone calls or the internet.

The risk involved has kept a lot of refineries from making transactions pending when they can find real people with allocations or real crude oil brokers in Nigeria. After all, there are a lot of crude oil brokers in Nigeria who forcefully emphasize the buyer must make an upfront commitment, leading to wasted funds, because the brokers cannot meet up to their commitments.

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