| Author |
Previous Topic | Next Topic |
|
mtel
416 Posts |
 Posted - 06/11/2008 : 12:01:45 PM
|
I have a principal who has a 24 month contract to provide 2.8MM barrels of crude oil (probably light/sweet) per month to China as an end-user. He has his own transportation. The principal is well versed in the business, has assets, letters of credit and proof of previous crude oil transactions. He had a US based source that has recently fallen through. He'd prefer to find a source in Russia or South America. He's looking for a source that can provide a letter of guarantee for the 24 month minimum. He's willing to provide all information to prove his bonafides but would like assurances on the source he'd be dealing with.
He's been in this business for a long while so he does have other sources but he also has a friend in our business. He's doing a favor by giving that friend a crack at producing a quote. His friend asked me to take a look. It's not real estate related but this is actually a straightforward transaction for the right source and I've met contacts for stranger items through BO.
Please let me know if it's a fit.
M
|
|
swmsn
4205 Posts |
Posted - 06/11/2008 : 12:41:10 PM
|
So he just needs a letter from the seller/provider stating that they will provide 24 months worth of oil to them.
BUT they will have to have the contract in place ( not just a letter ) They will want to see the agreement to the buyer, proof of funds for first shipment in case something goes wrong ( insurance collateral, port info ( times, dates, ) payment amounts, schedules, etc...
Your guy is acting as a jobber.
Email me and lets see what you have. |
|
|
mtel
416 Posts |
Posted - 06/11/2008 : 1:18:28 PM
|
quote:
Originally posted by swmsn
So he just needs a letter from the seller/provider stating that they will provide 24 months worth of oil to them.
BUT they will have to have the contract in place ( not just a letter ) They will want to see the agreement to the buyer, proof of funds for first shipment in case something goes wrong ( insurance collateral, port info ( times, dates, ) payment amounts, schedules, etc...
Your guy is acting as a jobber.
Email me and lets see what you have.
Shawn I don't think anything you asked for would be difficult to provide and I'm sure he'd be willing to conference to assure you (or your contact) that he's legitimate. If he feels comfortable with the conference and letter of guarantee he'd release all documents requested. I emailed you too.
|
|
|
gman1958
294 Posts |
Posted - 06/11/2008 : 1:38:02 PM
|
michael,
i used to be a crude oil trader... why doesnt he just sell a few contracts on the NYMEX, lock in his profit and let it go to expiration and deliver the oil to the buyer? |
|
|
mtel
416 Posts |
Posted - 06/11/2008 : 2:17:58 PM
|
quote:
Originally posted by gman1958
michael,
i used to be a crude oil trader... why doesnt he just sell a few contracts on the NYMEX, lock in his profit and let it go to expiration and deliver the oil to the buyer?
Gary, I don't have the answer to that one. I'm definitely not a commodity trading expert but what you say makes sense, seeing as even I know relatively few contracts are actually executed for physical delivery. He's a pretty experienced businessman (in a few different fields) so he might actually be leveraging part of his contract right now. He didn't discuss this though so I’m just speculating. His main focus and request was access to a consistent source as close to the supplier as possible. |
|
|
dkendall1979
10298 Posts |
Posted - 06/11/2008 : 2:22:06 PM
|
| Let me know if you get a hold of Chris and what he says. I haven't spoken to him for quite some time and wouldn't have just handed out his info, but you seem credible. |
|
|
Scrooge McDuck
8851 Posts |
Posted - 06/11/2008 : 2:27:03 PM
|
| dkendall, i wanna finance 12 acres on the moon. do you have a contact for that? if you dont know, no one does. |
|
|
dkendall1979
10298 Posts |
Posted - 06/11/2008 : 2:35:03 PM
|
Sir Richard Branson would be a good guy to ask. As far as I can tell, he's making the move towards intergalactic enterprising.
quote:
Originally posted by Scrooge McDuck
dkendall, i wanna finance 12 acres on the moon. do you have a contact for that? if you dont know, no one does.
|
|
|
mtel
416 Posts |
Posted - 06/11/2008 : 2:35:22 PM
|
quote:
Originally posted by dkendall1979
Let me know if you get a hold of Chris and what he says. I haven't spoken to him for quite some time and wouldn't have just handed out his info, but you seem credible.
I suspected as much David. I appreciate the candor (and the trust)...I already left him a voicemail so I'll follow up with you regarding his reply when I receive one. Thanks once again.
M |
|
|
Scrooge McDuck
8851 Posts |
Posted - 06/11/2008 : 2:41:56 PM
|
quote:
Originally posted by dkendall1979
Sir Richard Branson would be a good guy to ask. As far as I can tell, he's making the move towards intergalactic enterprising.
quote:
Originally posted by Scrooge McDuck
dkendall, i wanna finance 12 acres on the moon. do you have a contact for that? if you dont know, no one does.
i have read that the world's first trillionaire will come from the industrialization of space. somehow i believe there will be a virgin logo slapped all over it. |
|
|
dkendall1979
10298 Posts |
Posted - 06/11/2008 : 2:48:16 PM
|
There's already Trillionaires. Several of them.
quote:
Originally posted by Scrooge McDuck
quote:
Originally posted by dkendall1979
Sir Richard Branson would be a good guy to ask. As far as I can tell, he's making the move towards intergalactic enterprising.
quote:
Originally posted by Scrooge McDuck
dkendall, i wanna finance 12 acres on the moon. do you have a contact for that? if you dont know, no one does.
i have read that the world's first trillionaire will come from the industrialization of space. somehow i believe there will be a virgin logo slapped all over it.
|
|
|
Scrooge McDuck
8851 Posts |
Posted - 06/11/2008 : 2:49:27 PM
|
quote:
Originally posted by dkendall1979
There's already Trillionaires. Several of them.
quote:
Originally posted by Scrooge McDuck
quote:
Originally posted by dkendall1979
Sir Richard Branson would be a good guy to ask. As far as I can tell, he's making the move towards intergalactic enterprising.
quote:
Originally posted by Scrooge McDuck
dkendall, i wanna finance 12 acres on the moon. do you have a contact for that? if you dont know, no one does.
i have read that the world's first trillionaire will come from the industrialization of space. somehow i believe there will be a virgin logo slapped all over it.
really?
the oil sheiks? |
|
|
bramous
972 Posts |
Posted - 06/11/2008 : 2:57:00 PM
|
[quote
really?
the oil sheiks?
[/quote]
no...Kevin Brown.
|
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
