There is a place in the world that is known to be one of the top oil suppliers with so many light crude oil reserves. It is known as the top exporter of crude oil in the whole world. That place is known to generate millions of oil barrels in a single day. The NNPC is that end supplier of that place when it comes to crude oil. The allottees, operators, or fiduciary agents are the terms that you might have heard about. These traders consist the NNPC. These set of traders provide the petroleum buyers for the NNPC, but take note that it is not the only way.
You should know that if you are planning to buy petroleum from a oil supplier, you need to follow some procedures. These procedures are made to provide benefits to the buyer. Almost all of the buyers will be making the procedures that the sellers will have to follow in the comforts of their homes. You must take note that the seller is responsible to provide the procedure, and not the buyer. A lot of these sellers will always have room for a negotiation with the procedure, so the buyer will always have a chance for a more fair bargain with the oil supplier. One thing that you should also know is that the vessels of the NNPC will not be loaded and be waiting for the buyers. The vessels will be loaded with the oil right after the buyer and the oil supplier will have a deal.
Also take note that even if the buyer will be signing and SPA, the vessels will still not be loaded. The buyer cannot use the SPA as a proof that he or she will be able to pay for the petroleum. The vessel will not be loaded in your name since any person can sign the SPA. The vessel will only be loaded with the amount of oil that is preferred by the buyer, under his or her name, if he or she has a POF or proof of funds. You should pay attention to most of procedures that some unreliable buyers wrote then you will see that they will need the documents for the loaded vessel to be verified after signing the SPA. This is a wrong move for most of the buyers.
That is why you will need to follow the procedure of the end seller if you will be buying petroleum from some of the top oil suppliers in the world. You will not be worried about anything else if you will be following the procedure by the end seller. You should know that there are so many buyers that would be complaining about signing so many SPAs without the performance of the seller. There are two reasons behind this, the seller is not registered under the NNPC or the buyer did not show any proof of funds or POF.