How to Verify Petroleum Suppliers and Avoid Scams: The Definitive Buyer's Handbook

Verification is the single highest-ROI activity a petroleum buyer can perform. Most losses happen before the first dollar moves — at the document stage.

Five verification layers

• Corporate identity — registry filings, beneficial ownership, sanctions screening.
• Banking — POF and bank-to-bank verification.
• Refinery / lifting allocation — production allocation letter from refinery, port authority confirmation.
• Vessel — Q88, AIS tracking, charter party.
• Inspection — SGS / Intertek pre-load report.

Red flags that end deals immediately

• "We can issue TTO direct from refinery without ICPO" — false; refineries do not work this way.
• "Pay 2% upfront for SBLC issuance" — never legitimate.
• Mandate cannot produce a notarized Letter of Authorization.

Use a verified workflow

Sign up at petrointermediation.com to access only KYC-cleared suppliers and skip the scam funnel entirely.