Offshore Crude And Refined Products, With The Equipment Lines Beside Them
Offshore crude and refined products are traded beside the oilfield and gas equipment line, so the cargo and the kit are handled in one file, priced against published references and inspected independently.
One Desk For The Cargo And The Kit
Three lines share one file: offshore crude, offshore refined products and the oilfield and gas equipment the same operations run on. The buyer of a cargo and the buyer of a wellhead check different papers: the desk prepares both.
Crude Graded On Its Assay
Each cargo is graded on its assay: API gravity, sulphur content and the named stream.
A Cargo Prices As Benchmark Plus Differential
Cargoes are priced at a published benchmark, Brent, Dubai or Murban, plus a differential for grade, place and date.
Quantity And Quality, Fixed At Loading
Quantity and quality are fixed at the loading port by independent measurement, and any difference is recorded before the vessel sails.
Measured At Loading
Sampling and gauging under published measurement standards, with quantity and quality recorded in certificates both sides hold.
Inspected Independently
An independent inspection company certifies what went on board, and a letter of credit can make that certificate the condition of payment.
Paid Against Documents
Payment moves through banks against documents, under UCP 600 where a letter of credit is used.
Equipment From API-Licensed Plants
Equipment made to an API specification is sourced from API-licensed plants and delivered with the plant's own documents: the licence checkable on API's Composite List, the material traceable through its EN 10204 3.1 mill certificate.
Every Offer Screened Before Anything Is Signed
Each offer, its documents and its vessel are screened against the published maritime sanctions red flags before anything is signed.
Inside Offshore & Oilfield
Graded By Assay
Crude sells as named grades documented by assay; refined products by their published standards.
Equipment That Can Be Verified
Sourced from API-licensed plants, with the plant's own documents and EN 10204 3.1 batch traceability.
How An Offshore & Oilfield Transaction Runs
The Cargo Or The Kit
Crude, refined product or equipment, handled by one desk.
Screening & Terms
Counterparty and cargo cleared before a term is offered.
Contract
One reference covers product, equipment and paper.
Inspection & Documents
Certificates and shipping documents through banks.
Delivery
The cargo or the kit moves on the contract's delivery basis.