Letter of Intent (LOI) in Crude Oil Deals – The Legal Traps and Pitfalls of LOI for Crude Buyers

Nowadays, to hear many of the oil sellers and operators, particularly their brokers and agents, who are involved in the international open market crude selling, describe it, this document – called the “Letter of Intent” or LOI, for short – is not only an essential document for doing crude oil business, but one which every

Broker Joint Venture Deals – 16 Fast and Easy Ways to Make Money

A Joint Venture (JV) is also known as ‘business deal’, ‘strategic alliance’, or ‘strategic partnership’. Probably the simplest definition is that Joint venture is a win-win strategic partnership between two or more businesses or individuals who agree to leverage each other’s resources in order to achieve common economic objectives. Resources could be in the form

Fraud in Petroleum Trade Deals: The Loaded Vessel of BLCO Scheme in International Oil Trading

RAMPANT FRAUD & SCAM NOW A WELL-ESTABLISHED REALITY IN THE OIL INDUSTRY Put in the most simple and most unambiguous of terms, in the field of so-called international “secondary” market petroleum trade today, there’s ONE central FACT that has become almost conclusively established among virtually all experts and respectable traders alike — and that is,

How to Close Petroleum Trade Deals – 11 Deadly Don’ts for Oil Brokers in Closing Oil Deals

There are some common deadly don’ts and mistakes frequently made by brokers in trying to close deals. Most (in deed, just about ALL) brokers and intermediaries that one meets on the Internet who send out “offers” and “deals” each day claiming they have oil or oil products to sell, haven’t got even the foggiest clue

The Primary Duty of the Intermediary in Internet Oil Trading and Refined Petroleum Product Deals

A. LACK OF KNOWLEDGE AND PROPER INFORMATION AMONG INTERMEDIARIES Most experts and keen analysts of the industry often lament and bemoan one nagging fundamental shortcoming of the modern Internet-era class of brokers, agents and other intermediaries – namely, that, as a class, they tend to be overly handicapped and plagued by a general lack of