Procedures

Petroleum Procedures

MEGA PETROLEUM GROUP 

Issues a draft SCO 

The Draft SCO will either be a direct offering by Mega Petroleum Group or on behalf of a Seller that Mega Petroleum Group represents. The Draft SCO will include all the details including the Quantity, Price, and our Procedures.

Buyer 

Issues ICPO

  1. Buyer will  issue an ICPO along with their Company Profile and Company Registration.

Information that will be required when submitting the ICPO:

  • Corporate Profile
  • Legal name and address of the buyer
  • Name and title of the authorized signatory
  • Company registration
  • Bank name, location, account, routing and swift along with Bankers name and contact.
  • Commodity required with initial lift and monthly quantity
  • Destination port for final delivery

2. A conference call will be set up between Buyer and Seller to go through the logistics of the transaction.

3. When the agreements to move forward are confirmed on the initial Conference call, Mega Petroleum Group will issue the Commercial Invoice to be completed by the Buyer.

4. Buyer returns fully executed Commercial Invoice and it gets lodged with respective Banks. In Some cases the Buyer’s Tank Storage Agreement may be required if we are setting up a direct Injection or bringing in the fuel by ship and need the Buyer’s Logistics to enter the port.

5. Banks will open communication and send the required POF in exchange for POP

6. Depending on the Transaction Buyer and Seller prepare to move the fuel to either the Seller’s Tanks or the Buyer’s Tanks for final verification through SGS.

7. Dip Test is completed at Buyer’s expense.

8. Buyer Pays VIA MT103 and Title of the fuel is transferred

9. Intermediaries are paid

10. Long term Contract is executed with Buyer issuing a SBLC for 1 month’s Supply against a 2% Performance Bond.

Crude Procedures

Through RLR International we have allocations and direct relationships with two of the worlds largest suppliers of crude oil products.  We do not offer “off OPEC” crude.  Therefore in order to engage the purchaser must be a refinery or show its relationship to a refinery.  Before pricing or procedures are given we must get the approval of the supplier of the country and refinery involved.  Only after this approval will the potential buyer/refinery be provided with pricing and procedures which are based on strict policies pre-set by the suppliers based on country and refinery. 

In order to engage contact us and we will provide a sample letter of request that must be completely filled out to get approval.