Avoid These Petroleum Product Scams Spreading On The Internet
Why Petroleum “Joker Broker” Schemes Are 100% Fake
All of those online LOI, ICPO, SCO and “CI DIP & Pay” deals have zero basis in the real oil & gas market. They’re a cesspool of fake documents, endless WhatsApp and Zoom calls, and brokers with no cargo, no bank lines and no track record—just broke people chasing phantom billions.
How the Real Oil & Gas Supply Chain Works
Genuine petroleum trade follows a clear sequence of steps, each backed by physical assets and regulated processes:
- Upstream (Exploration & Production): Wells produce crude, recorded on production logs and metered by oilfield service companies.
- Midstream (Transport & Storage): Pipelines, tankers or railcars carry oil to terminals. Independent surveyors verify quantities at each handover.
- Trading: Registered traders execute contracts on exchanges or OTC with bank-backed letters of credit under ICC UCP 600 rules.
- Downstream (Refining & Distribution): Refineries process the crude, issue official grade certificates, and dispatch products under documented delivery orders.
- Settlement: Banks exchange cleared funds via SWIFT MT 103/700/760 messages; carriers issue bills of lading and customs docs confirm import/export.
The Scam Ecosystem: Fake Docs & Empty Promises
- Phantom LOIs: Blank templates, no signatures, no legal counsel involvement.
- Counterfeit ICPOs: Corporate logos stolen from random websites, no board resolutions or bank confirmations.
- Nonexistent Cargoes: Brokers name tank farms and vessel schedules that don’t exist on any industry database.
- Amateur PDFs: Passport scans pasted in MS Paint, shaky English, Google Translate phrasing.
- Endless Broker Chains: “Intermediaries” feeding one another leads and fees, none with real capital or authority.
Why None of These Deals Ever Close
In over seven years of chasing Joker Broker schemes, not a single transaction has reached delivery. There’s no genuine seller, no buyer credit, and no physical handover. Everyone’s too busy arguing commissions while living paycheck to paycheck. It’s pure theater.
Red Flags to Spot Immediately
- No sight of a valid SWIFT MT 700 or MT 760 from a rated bank.
- Insistence on “secret” platforms or back-channel communications.
- Requests for non-refundable “processing” or “legal” fees upfront.
- Lack of third-party surveyor reports or independent quality certificates.
- No traceable corporate registration or real office address.
Stay Grounded: Demand Substance Over Hype
Real oil & gas trade relies on physical flows, bank-backed payment mechanisms, and regulated exchanges. If you’re not dealing with accredited counterparties, independent inspectors and clear logistics, you’re not in the supply chain—you’re in a fantasy. Ignore the noise, focus on verifiable assets, and never pay for a deal before seeing hard proof of cargo and cleared funds.
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