Beginners guide to crude oil trading business

March 2nd, 2011 by admin No comments »

Trading in crude oil and its derivative products has always been a lucrative business as it is a seller’s market. This means that the market is dominated and dictated by the seller’s lobby rather than buyers. So selling the product is not always the difficult part when it comes to trading crude oil. At the same time getting allocation of the products still remains most tricky part with high entry barriers.

Most of the oil traded in open market is from OPEC (Organization of Oil Producing & Exporting Countries). More specifically the Nigeria National Petroleum Corporation, commonly known as NNPC, sells most of its stocks in the open market. Now the big question is how to get allocation from NNPC? You need to have following in order to stand a chance of getting allocation from this government owned agency:

1.      Funds: You must have funds in excess of $ 100 Million and present Proof of these funds (POF) to NNPC.

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CMO COMPLIANCE and Firstline join forces to provide the world`s most complete and integrated audit & inspection solution for the Oil Industry

February 28th, 2011 by admin No comments »

CMO compliance, the world’s leading provider of audit, risk, compliance and QEHS management software solutions and Firstline, the oil industry inspection consultants, today announced a strategic partnership to provide global oil production and drilling companies with the mostcomplete and integrated audit & inspection solution on the market.

Firstline, providers of inspection and audit services to the oil production and drilling industry, with clients ranging from Statoil to Dolphin and Island Offshore, have partnered with CMO COMPLIANCE to provide industry leading inspection and audit tools to allow  companies to  manage and monitor  their compliance central, anywhere anytime.
“In the wake of the spill in the Gulf of Mexico, the oil industry is looking for solutions to their safety audit and inspection requirements as it is so important to the success of their business. This is where our partnership with CMO COMPLIANCE can help by combining the world’sleading software solution with our industry experience.”  said Roger Bjorkli, Managing Director of Firstline.

Oil drilling and production companies can  use CMO compliance to provide a fully integrated, state of the art solution supporting the audit and inspection functions, from risk assessment and planning to inspection execution, including document management and remediation.Such clients will also benefit from CMO COMPLIANCE being highly configurable software that is very well suited to multi site/multi user deployments for large corporations who face greater challenges to ensure compliance in today’s increasingly regulated environment.

» Read more: CMO COMPLIANCE and Firstline join forces to provide the world`s most complete and integrated audit & inspection solution for the Oil Industry

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