Transaction Procedures



Procedures form a self disciplined practice that protects every party to the transaction – buyers,suppliers and agents.

off-shore rig

Preliminary Procedures

If you are a REAL buyer please read about the registration procedure required to start the buying process. We have Four Pre-qualified sellers that have been verified at the NNPC office in Abuja, Nigeria. Register to Buy BLCO from Verified Sellers

Below are the approved preliminary procedures for dealing with Nigerian Oil Services, NOS, and for completing an oil purchase in Nigeria.

The very first thing you should do is to read the article “What Oil Buyers Need To Know“.

“Notice to Crude Oil Sellers”


We practice the “Doctrine of Strict Compliance”.

NOS only uses ICC Paris Incoterms 2010 delivery rules and UCP 600 DLC Rules of application. We supply English language formation of contract and foreign governance.

Nigerian Oil Services only uses safe trading proceedings. These procedures protect not only the supplier and the buyer but also intermediaries involved in the crude oil transaction.

Please see our article on Risk Management. It will inform you of the procedures we use to protect every party in the transaction

Below is a list of articles about our transactional procedures that we practice in the course of buying and selling crude oil, finished fuels and other petoleum products.

  • Proof of Prior Performance

    There is a big difference between Proof of Prior Performance (POPP) and Proof of Product (POP). Most of the people we are communicating with equate the two as the same […]

  • Procedure & Timeline

    We have had many buyers request to see what an actual BLCO transaction looks like, how long it takes and what happens on each day. As a result we are […]

  • POF Importance

    Proof of Funds Importance Parties in the deal. Seller = NNPC Consignee = NNPC approved reseller Buyer = the entity signing the purchase agreement End Buyer = Refinery Now when […]

  • Strategic Objectives

    We believe that it is possible to do this business and not fail most of the time – not even part of the time. I think that is somewhat a […]

  • Crude Oil Performance Bond

    A Crude Oil Performance Bond is one way a buyer can get some kind of guarantee that the seller will perform and deliver the product. Nigerian Oil Services has seen […]

  • BLCO Buyer Application

    Register to Buy BLCO from Verified Sellers This article is to help inform a real buyer of the registration procedure required to be able to start the buying process. If […]

  • BLCO – NNPC FOB Procedures

    BLCO is now available for FOB under strict procedures established from the NNPC through our NNPC approved seller. These procedures are not anything like CIF procedures. FOB transactions are only […]


    These are the rules of trade we practice. They have been developed by Davide Papa over the course of 25 years of international commodities trading. You will not find courses […]

  • Risk Management

    Risk management refers to a range of tools or products and procedures which will help a company to manage its exposure to loss. When proper protocols are put in place […]

  • Notice to Crude Oil Sellers

    For Sellers of Crude Oil from Nigeria or other parts of the world. If you are offering a product for sale, such as BLCO (bonny light crude oil) and are […]