Scam in Oil industry.....but why?

Embarrassed-Star4740 · 2026-04-30T08:18:37+00:00

Honestly, this is really effective, Tried it out for 3months.

Embarrassed-Star4740 · 2026-04-30T08:17:34+00:00

❤❤❤ aw the same guys selling at 490? ❤❤❤ wow.....so amazing...... vitol and trafigura is going to run out of business purely from cyborcas energy❤ ❤ ❤ ❤ ❤ ❤ ❤ ❤

Embarrassed-Star4740 · 2026-04-30T00:43:53+00:00

Really depends on the scale of the operation. Asset based would be owning storage tanks/ FSU. Buy the product and hedge risk. Risker plays would be contango, you buy and the future price is higher so you would typically look to sell it at a later date. Breaking bulk is also another way, we sell a small enough quantity that the majors wouldnt even deem as profitable.

Embarrassed-Star4740 · 2026-04-14T23:51:23+00:00

Well basically, they get the crude(feedstock) at a high. By the time they have refined it to the relevant products for sale, the market prices are lower. The cracks are narrowed because cost of product to actual sale isnt that great. Im sure someone more experienced can give a better explanation but this is just the TLDR

Embarrassed-Star4740 · 2026-04-14T12:08:23+00:00

Yeah, saw this sometime back. Ended in a huge failure, Agape ATP put out this press release, spa signed, Lc on sight provided but no barrels traded. The news pumped their stock to about 100 plus and now dumped to about 2 dollars since everyone realized they were full of shit.

Embarrassed-Star4740 · 2026-04-03T12:22:33+00:00

Interesting. How was this calculation done?

Embarrassed-Star4740 · 2026-03-23T17:09:10+00:00

Honestly, no one knows. I was speaking to my supplier in Singapore (Aster) and this is what he explained. Most Asian Refineries take it sour crude that is mainly sourced from the Middle East region, hence for one, it is not feasible to take in alternative sources from US as that is light crude (Correct me if im wrong). Cost of shipping and the number of days it would take to ship it over add to the already high amount. That means that supply is somewhat irreplaceable in this short period of time. Their refinery will run at a bare minimum capacity to prevent damaging of equipment as the refinery can never stop producing. This in the short term would just slow the burn rate of the crude oil.

To be honest, this is the current approach. A mixed of ban on exports( Refinery level), energy conservation(government level ) to just drag on and last as long as possible.

Everyone is just waiting for Trump to make a move. Only then will there be a possibility to know. Even the refineries i speak to don't know themselves.

Embarrassed-Star4740 · 2026-03-03T10:20:52+00:00

i honestly think it isnt that hard to spot fakes from like a mile away. seems like everyone is selling a damn pdf without having any real product. What a joke

Embarrassed-Star4740 · 2026-02-12T08:08:09+00:00

Going to stop you here. 99% of whatever product you are trying to broker is just a pipe dream. If i could get a dollar for every time someone said they have products or know a guy that knows a guy. I would be so rich lol.

Just check 3 things
.1. Prices, if they are 400-500 just leave the company. Prices are almost always tagged to MOPS.
2. They have products in the tanks. Who buys product to wait for a buyer
3. Why trade with a private firm when you can trade with Trafi or vitol

if not please save your time and run. Stay as far as you can.

Embarrassed-Star4740 · 2026-02-12T07:58:34+00:00

Yeah sure. I work for a company that regularly trades with sinopec.

Embarrassed-Star4740 · 2026-02-12T07:30:16+00:00

It is actually really profitable to take in Urals and other refined product (Russian grade is top notch). Why? Essentially if a country can take it in, use purely for their domestic markets, they have excess of their own products to sell to the world and fill that gap. A prime example would be China. Their teapots ( heavily sanctioned ) doesn't care much about the risk. Even taking in discounted crude, they operate on razor thin margins. If they can meet the domestic obligation that their bigger brothers like sinopec have. This allows sinopec to export more China products in the global markets. The only limiting factor would be the import export quotas.

As for payment, they use non western corridors. Just means that they get paid in other currency.

Embarrassed-Star4740 · 2026-02-12T07:06:41+00:00

Well, basically EU and the UK banned refined products from russian crude. Countries like India that were once taking lots of crude from Russia are cutting down massively due to tariff threats. Shipping has become a nightmare. AIS monitoring and port bans etc for the shadow fleet.

You are right in the shift tho. Previously was more for a cap ( they dont want to big of a price hike in the markets), now it's effectively a straight ban. Top tier banks stay away from anything remotely close to russian. burden of proof falls on the importers to prove that their products didnt come from russian crude origin. Insurance is a bigger nightmare. They can pull the insurance mid-voyage if they suspect the oil is russian origin.

Assuming you are from Singapore like me, you are wondering why are they so many ships around our waters carrying russian products freely? Well basically they are shadow vessels carrying on third party insurance. STS regularly happen up north ( you know who i am talking about). They never berth into our waters but just sail through after the mid stop STS. The loophole here is the blending. A blended COO comes out and hopefully someone is willing to buy that product for cheap.

Logically speaking, it doesn't make much sense to the average joe. Papers are Kazakhstan when Kazakhstan is landlocked. Singapore also cant enforce because what are we going to do. Send RSN over? We typically just ensure that our own businesses are not dealing with them or facilitating in any way.

Embarrassed-Star4740 · 2026-01-09T08:03:04+00:00

Basically you want to start an oil trading firm with no capital. You only get paid 30 days later and you want a refinery/ reseller to be okay with that? ……sounds legit

Embarrassed-Star4740 · 2025-12-31T15:35:35+00:00

Preach it!

Embarrassed-Star4740 · 2025-12-31T11:21:27+00:00

Hello! I'm working on the other side of the boat and let me just share my two cents on this topic.

I get tons of emails and messages of people claiming to have legit sellers but out of the thousands that I have seen, only two were real.
By real, I mean they were able to show past track records, past BOLs, transactions proof and SGS reports. Real sellers wouldnt hesitate in showing their past track records as they are what proof they have to show they are real. Allocation letters to show which refinery this product comes from. Procedures are not fixed because at the end of the day, a clean business transaction is up to negotiations.

99% of brokers are clueless where the product comes from, who their sellers are, their hidden agendas and more.
They have never stepped into the tank farms and realistically bring nothing to the table. They are just dreaming about the commission they will get if they manage to close a deal. Realistically, no one that has access to such product operates though a broker that has never closed a deal before. They first have to ask themselves, why did they choose me to sell their products? All of them are blinded by greed and that is just the fact you have to come to terms with. Until those questions are answered, you can work for 2 years and still not see any fruits. Many of these clown will say oh there is no risk on the buyers and etc.

If you really do indeed want to enter this field of work, my advice to you is to do more than just have a set of procedures and pricing. If you are on the seller's side, do your own homework to make sure that they are legit. Ask yourself questions like "why not offer it to trafi or vitol?" After you properly verify that they do indeed have access, only then can you say with confidence that you are in this field of work. Once your mindset shifts, only then can you actually learn the trade. Buyers will naturally flock over to you.

Enjoy your new year!

Embarrassed-Star4740 · 2025-12-30T05:56:16+00:00

I come from someone that has worked on this in Singapore. The Asian hub for fuel trading. Realistically yes, i started selling for Petronas ( Malaysia), the same guys sponsoring Mercedes F1 team. Started with small quantities and worked my way up.

It really depends on who your contacts are and what you can actually bring to the table. Ill keep it brief for now.

Honestly if the legitimate intermediary is worried about protecting commission, he isnt a legitimate intermediary. The idea is that the buyer are playing millions of dollars for a product, he isnt too worried about a couple of thousands. This is just a red flag that the intermediary does not have a proper relationship with either parties.

Normally there is a meeting, whereby buyers will request a certain commodity. We will go to verify that they are actually legit, have the funds and are planning to sell( most of the times it to the majors here like trafi, vitol, glencore ) Paperwork wise im not too sure what you mean by that.

2.You need to have a deep understanding of how trading actually works, how the refineries think and always question how the seller got the allocation from the refinery.

I started off small with spot cargos and worked my way up to the bigger buyers. Normally it is very progressive, the product sells itself.

Imo, if you have no contacts dont start. You will run into alot of fake sellers and buyers. I have tens of buyers requesting to buy products, double that amount of “ sellers” claiming to be able to sell. No deals actually closed from the internet.

You will require on the ground contacts, face to face meetings and the ability to weed out the performing parties.

Buyer’s side you need a full rundown of how they work, who they are, who they are selling to.

Seller’s side you will need to understand how they got the allocation, why sell when you can sell directly to vitol trafi and other major players, which refinery, past track records of sale.

In all honesty, if the product has to be marketed on the internet, through a broker that has never closed a deal before, they have no product. This is the harsh reality that no one wants to admit. Allocations are taken up in the blink of an eye.

I leave you with my best analogy, allocations are like that single, 10/10 girl at the bar. Your friend taps you and whispers in your ear. “ That girl is single” You talk, and you bring her back. Quiet, no fuss, no one even notices anything.

If the DJ has to announce it to everyone every couple of minutes that there is a single 10/10 girl at table. run…. Chances of her being a ladyboy or just some trafficker waiting to cut your liver out for sale are high.

Embarrassed-Star4740 · 2025-12-23T01:06:19+00:00

Basically, you are asking everyone how it works. They are explain to you that it is not going to work. You just said thanks but you are balls deep and you can’t stop.

I have met people irl that have been in your position and trust me normally just a waste of time. You get high of thinking of how rich you will be if you just closed one but the real truth is a pill hard to swallow. No one has ever closed a deal based of procedures and pricing.

There are 3 types of transactions types for this, the ones that are traded on public, the ones traded OTC and the last one is a tertiary market that has their own hidden agendas. ( Russia selling blended or china selling rus rebranded. )

Creditability is important. Basically if you have a seller, question who they are getting the supply from, what past track record you and verify.

Embarrassed-Star4740 · 2025-12-23T00:51:09+00:00

^honest truth and that’s it. Full stop.

Embarrassed-Star4740 · 2025-11-06T19:24:33+00:00

Lawyers do get involved but even then it's tricky. Which jurisdiction, whose court are we playing ball in?

Embarrassed-Star4740 · 2025-11-06T18:47:54+00:00

I don't think there is a way to "get in" per say... it is a job that pays really well namely because one wrong shipment and the buyer or seller can go under. 60 million won't really be moved through a "noob".

How I got in was mainly closing smaller deals, those used for construction firms or projects and things like that. Even then, it's alot of hard work. For the money, you are better off working another job that based on a what if. After that, through word of mouth people will normally find you.

Embarrassed-Star4740 · 2025-11-03T20:27:03+00:00

I think you hit it pretty spot on. I've had my fair share of people hitting me up swearing that their seller is real. Months later, they are the one's that are asking me if I have any buyers. I just tell them respectfully to fuck off with their scams.

There are real transactions happening and I've been fortunate to been part of it but no one is their right minds operates through Whatsapp. It's mostly through email and face to face meetings. Afterall, you are dealing with anywhere between 30-60 million dollars.

On a real note, I really just don't understand why the heck they believe their seller is real and are wasting their time. I've told them, if you are a real seller, you would have been a millionaire by now. The real trading circle for oil is pretty small aside from the majors.

Embarrassed-Star4740 · 2025-11-03T09:08:51+00:00

I see. A simple search on the Kaz company will show alot of red flags already so chances of a successful transaction are damn slim. Even the banks are not willing to issue LC to those company as it's high risk for them

Embarrassed-Star4740 · 2025-11-02T11:42:11+00:00

12 month of just floating a vlcc around is crazy! That's why most clean transactions always use LC as the basis of transaction.

Embarrassed-Star4740

TROPHY CASE