Pitiful: Oil & Gas Broker Chains Pushing Fake Petroleum Deals
Pitiful: Oil & Gas Broker Chains Pushing Fake Petroleum Deals
If you hang around trade forums, WhatsApp groups, or Telegram channels, you’ve seen it: endless “allocations,” cartoonish discounts, and a swarm of middlemen promising Bonny Light, JP54, D6, and jet fuel by the million barrels. The punchline is always the same—some upfront payment, a “verification” fee, a tank lease deposit, or a swift “logistics” charge. The product doesn’t exist. The deal doesn’t clear. The brokers keep fishing for a fee. It’s pitiful.
How The Scam Usually Works
- The Hook: Broadcast lists offering JP54/D6/EN590/BLCO with a headline discount—sometimes “up to 30% below Platts.”
- The Chain: Dozens of “facilitators” and “mandates” forward the same PDF. Everyone claims a slice via NCNDA/IMFPA.
- The Bait Words: “DIP & PAY in Rotterdam/Houston,” “SGS already done,” “TTT CIF ASWP,” “Seller refinery mandate.”
- The Ask: Before anything real, they push for “tank verification fees,” “product passport,” “inspection reservation,” or a “performance security” you must wire first.
- The Fantasy Math: They brag about a $2 commission per barrel on a million barrels of non-existent jet fuel. Overnight riches—if only you send that tiny “refundable” fee.
Red Flags That Scream “Walk Away”
Claim vs. Reality
How Real Petroleum Trades Actually Look
- Short Chain: Buyer and seller (or exclusive agent) with names, roles, and corporate emails. No ten-deep broker pile.
- Proofs Match The Stage: Sanity checks under MNDA, then POP only after bank-to-bank or escrowed conditions. No “SGS from last month” PDFs.
- Payment Instruments: LC/standby or secured terms approved by both banks, not random “TT after dip.”
- Verifiable Assets: Named terminal, storage ticket, vessel call signs you can verify, or pipeline nominations with operator confirmation.
- Pricing: Platts/Argus plus/minus a believable differential, matched to quality and location.
What To Do When You’re Targeted
- Refuse Upfront Charges. No tank deposits. No “inspection reservation.” No “allocation activation.”
- Kill The Chain. Ask for the counterparty with title and a corporate email. If they can’t produce one, end it.
- Demand Verifiable Details. Terminal, operator contact, vessel IMO, and a process that includes bank officers—not just PDFs on WhatsApp.
- Background Checks. Company registry, director names, litigation hits, and previous liftings. If there’s nothing, that’s your answer.
- Use Escrowed Costs Only. If any third-party costs are truly required, they sit with a reputable law firm escrow with release conditions you control.
If You Already Sent Money
- Contact your bank immediately and request a recall/hold citing suspected fraud.
- File with local cybercrime authorities and keep every message, invoice, and SWIFT printout.
- Inform the platform admins (forum, WhatsApp/Telegram group) with evidence to shut down the accounts.
The Boilerplate Script You’ll See Again And Again
“Direct to refinery mandate… Bonny Light available… CIF ASWP… DIP & PAY… SGS ready… need small tank verification fee… secure allocation today.” Different logo, same hustle. Save yourself the headache.
This article calls out common fraud patterns in online petroleum “offers.” It does not accuse any specific person or company. Always run independent KYC, legal, and commercial checks before engaging in any transaction. We do not accept payments through unofficial channels. Pay only to bank details shown on our invoices.
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