How Safe is Ship to Ship Transfer (STS)
Ship to ship transfer is a common practice in the oil and gas industry, and its importance cannot be over-emphasized. […]
Oil & Gas Basics
Benefits of Bank Guarantee in Local & Export Business
What are the benefits of a bank guarantee, and what the main procedures to get it? I am a businessman,
Confirmed Letter of Credit And its Advantages
A confirmed Letter of Credit is an LC guaranteed by two banks. However, the confirming bank does not just agree
How safe is Red Clause Letter of Credit
What is a red clause letter of credit, and do some suppliers demand if for order fulfilment? The best way
Types of Marine Tankers: Similarities and Differences
Imagine if you have to load your crude oil into drums or barrels before you ship them to a foreign
Bank Instruments, Import and Export, Knowledge Base, Letter of Credit, Oil & Gas Basics
Commonly Used Letters of Credit
Letter of credit is a letter assuring a seller of issuing bank’s readiness to make payment to the seller in
Understanding Letter of Credit
What are the advantages of Letter of Credit? Why do exporters prefer it to other payment instruments? In this article,
Crude Oil Terminals in Nigeria
Crude oil is undoubtedly Nigeria’s number one source of income, and there seems not to be any commitment to creating
Cost, Insurance and Freight (CIF) Trade Agreement
What is Cost, Insurance, and Freight (CIF), and what are its benefits in foreign trade? Also, why do some businessmen
What is Free On Board (FOB) Trade Agreement?
There are several trade agreements out there, and if you are not careful, you may agree to wrong terms and