March 3, 2024

Paull Ank Ford

Business Think different

Crude Oil Business – How to Profile Buyers

If you would have to close a deal in the Oil and Gas business, then you must strive to apply a professional approach. As a seller, having a commodity without having anybody to buy is regarded as a waste. The essence of business is buying, selling and making profits. There are so many people out there trying to broker a deal in this industry selling crude oil but they are face with myriad of problems. The reason owing to the fact that the buyer/seller mandate or facilitators are not doing things the way they ought to be done. Most times, the actual sellers already have their buyers and most buyers also have their sellers; these buyers could seek for products else where when there is a great need for the crude oil product and their supplier cannot supply the required quantity. The people who do the scouting for either buyer/seller of crude oil product are mostly the mandates and facilitators. Most times the business becomes frustrating for them because they do not go about it the right way.

In order for a seller agent to find a suitable buyer, I would advice for him to do a little profiling. If you stand as a seller agent and looking for a genuine buyer, you should go through directories of refineries. Most of these directories list phone numbers, contact address and in some cases email addresses. If you have a strong relationship with the seller, you can request for a letter of mandate ship from him. I suggest this for professionalism sake; it gives the buyer more comfort working with you. Now that you have obtained this, you can take the following steps:

Place a phone call to the refinery/buyer: This first step is imperative because most people would prefer a phone communication so they can really feel who they are relating with. Your sole aim of making this call is to introduce yourself and your company (you should have a company name), tell the buyer what you have to offer and how you intend to deliver, the time it would take to deliver. If the buyer indicates interest, you can now request for his email address if you don’t have it.

Do an email to the buyer: After having made the phone call, you can now send an email to him with your working procedure together with you letter of mandate ship and company details. The mail should reference the call that was placed to him and the exact time and date. You can also re-introduce yourself one more time. If after going through the procedure and he is comfortable with it, you can now proceed with the other part of the deal as indicated in the procedure.

Alternatively, you can also write to companies buying crude oil. The letter should be an introduction letter written with your company letter headed paper. If you are the mandate, you can also include your letter of mandate ship and your procedure. Please make sure that this letter is packaged in a professional manner with your contact details included in it. You can send to as many companies as you can and wait to get your response. If you don’t get a response within a period of time, you can call in to ask if they got your letter and if they are interested in doing business with you.

Professionalism should be the keyword in crude oil business; if you achieve this then be sure to expect a positive response after your profiling.

To your success.