| ext">Crude oil dealers can be found in oil producing | | | | transact with state sellers. |
| countries like Russia, Nigeria, Saudi Arabia, Kuwait, | | | | 2. Private dealers: BP, Total, Shell, Chevron etc are |
| Iran, Iraq, Angola etc. They are three types of crude | | | | private sellers. These are renowned companies with |
| oil dealers. They are namely: | | | | huge assets. They have oil drilling and oil selling |
| 1. State dealers | | | | facilities. As such, buying petroleum from them |
| 2. Private dealers | | | | whether heavy or light petroleum is attainable. The |
| 3. Independent dealers | | | | first step you should take to buy petroleum from |
| 1. State dealers: They are government companies. | | | | them is to visit their head office or branch office. |
| This set of sellers can easily be found in Russia, | | | | They offices are in developed countries. Their |
| Nigeria, Saudi Arabia etc. An example of a crude oil | | | | receptionist will walk you through the whole process. |
| state seller is referred to as NNPC. This type of state | | | | The option of contacting them to show your interest |
| sellers can be found only in Nigeria. It also has office | | | | using their email address made available online is a |
| in London. Petroleum bought from this type of seller | | | | slow process. Most times it does not work because |
| is usually sold in market price. Buying petroleum from | | | | they may mistake you for a fraudster. |
| state sellers is not easy. This is because you will need | | | | 3. Independent dealers: independent sellers either buy |
| to show a certified document or verifiable proof of | | | | from private sellers, state sellers or get their |
| your crude oil previous transaction history. This is bad | | | | petroleum through oil allocation. Some independent |
| news for first time buyers. As for first time | | | | sellers are compensated with oil well by the |
| companies, this will not be easy for them to get. The | | | | government. An example of independent sellers is |
| best way to buy crude oil through state sellers is to | | | | Eze Arthur from Anambra State, Nigeria. It is easy to |
| do so through registered or genuine crude oil agents | | | | buy petroleum through this set of sellers if you buy a |
| or facilitators. They make this process easy due to | | | | genuine seller. You will not go through the protocols |
| their strong connections. If you do not like this idea, | | | | required by private and state sellers. You will not |
| then there is still option to go direct to NNPC. This | | | | even need to show a minimum fund of $100,000,000. |
| might be complicated but it is a bad idea to try. You | | | | As long as you can prove that you have funds to |
| may need a capital of up to $100,000,000 USD to | | | | pay for the oil, this process is easy. |