Impersonating Novatek!

I would rate this scammer a 2/10. I mean, at least get the logo of the organisation correct before attempting to impersonate a fuel supplier? I didn't know #Novatek were a recycling company...

Laughable by the standards of fraud that we have seen in this space. 😆



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Iraq's State Oil Marketing Organization (SOMO)

For all the acclaimed 'allocations' with SOMO for their Basrah Crude Oil sales, an official but simple check with SOMO directly can confirm the legitimacy of your source of supply... sadly, many choose not to do so and end up getting scammed or dealing with time wasters.

I mean, how hard is it to find out the official website of SOMO?

Seriously, is it that difficult to do some due diligence? 😅


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The Gazprom Neft clip-art

Yet another 'offer to supply petroleum products', this one claiming to represent Gazprom Neft 😎 

Header looks like a poorly done up clip-art from Microsoft PowerPoint, that free email addy (damn right Gazprom are gonna use Yandex mailboxes!) and facilitator jargon says it all.

There seems to be an interest to misrepresent mainly Russian oil companies, possibly because it is one of the hardest places on earth to do any real business so it makes these scammers look like they have access to prized possessions on-hand to cheat the naive.

Someone should seriously fish out these buggers and put them all behind bars for the intention to commit fraud 😁


Agents and Mandates of Rosneft?

No agents or mandates or facilitators exist! Online offers that you see are pure fairy-tales! 😎 

If in doubt just knock on the doors of https://www.rosneft.com/Investors/beware/


A typical fraudulent offer for fuel (example #1)

So here's how one of the typical fraudulent offers look like, for the so-called sale of petroleum products.

Did I mention they have become quite artistic of late as well? Adding in sexy images of oil refineries and all to make themselves look as knowledgeable as possible!

Fake Petroleum Product Offer!

First redflag - CIF ASWP

Second redflag - JP54. This is a typical nomenclature deemed as a genuine jet fuel used by scammers and facilitators. If you do some homework, you will find that no one NO ONE in the real world labels any jet fuel type as 'JP54'. This is a dead giveaway that you are dealing with a pure swindler. Be mindful though, many of these tricksters have become smarter these days and immediately try to associate 'JP54' with 'TS-1', which is a genuine jet fuel type commonly used in CIS states.

If unsure, do an experiment for yourself and write to any real refiner or trading house requesting for 'JP54'. You will not get an answer and you will probably lose your reputation as well as the chance of doing any business with them ever again.

Third redflag - FOB Rotterdam. As I was saying, these jokers only ever know of Rotterdam and Houston. They seem to think that the whole world stores oil only in these two ports. So they must have product sitting in THEIR tanks there, waiting for you to pick it up since its FOB. If so, you should gladly make some verification with the port authorities and you will know if you're wasting your time.

Fourth redflag - Procedures. What procedures? Real and experienced traders never talk about 'procedures'.

Fifth redflag - Its always along the lines of "D2, JP54, MAZUT, BLCO, REBCO, LNG, EURO V, EN590" that these swindlers offer. Not identical, but roughly similar. For some reason, these amazing oil traders have access to a myriad of petroleum products like some online supermarket that only a fool will believe.

I kinda wish there was an authoritative organisation worldwide that would govern and flush these buggers out. It tarnishes the beauty and genuineness of physical oil trading. Sadly, you're up against the internet.

In the name of Storage Tanks

For some reason, most of these scammers and fraudsters only know of Rotterdam as the only port in the world.

So all you hear is FOB Rotterdam, FOB Rotterdam, FOB Rotterdam. Take it from my tank! Here are my storage receipts! But but first I need some 'upfront logistics and administrative fees'... 

Yeah right.

So much so that the actual Port of Rotterdam via their intel division FERM has to establish a very handy blacklist of these so-called 'storage tank spoofers'. Till this day in 2019, they are still adding names to the list. Goes to show that the number of scams are still on the rise EVEN TO THIS DAY WHICH IS PRETTY AMAZING.

You can check out the list here.

Many of these are actually fake websites that use very similar names to actual and legitimate oil and trading companies. +1 for creativity.

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