Petroleum Deal Snapshot — Enter the offer, see what it is worth per lift and over the contract
Free to use. What you enter stays in this browser until you export it.
Product
Weight and volume convert through density. The contract’s measurement terms govern the final quantity. LNG is priced per MMBtu and is outlined with Magister Operis directly.
Quantity
Price
Reference price
The figure shown is an example, not a market quote. Platts and Argus assessments are subscription data; enter the figure and date the offer cites. US dollars and euros are shown here. Any settlement currency can be configured for the transaction once the parties are engaged.
Deal terms and closing — optional
Documents in hand
Parties to the offer
Optional. Each party added here is listed in the PDF.
What is being presented
| Per lift | Contract, 12 lifts | |
|---|---|---|
| Market value, at the reference price | — | — |
| Seller receives, at the gross discount | — | — |
| Buyer pays, at the net discount | — | — |
| The spread — gross to net — commissions and contract costs paid from it | — | — |
| Buyer’s price against the reference | — |
The spread is shown as one figure. Payouts from it can be structured in unlimited configurations — sell side, buy side, paymaster, groups — once the parties are named.
The spread
Closing
Volume
| Per lift | Contract | |
|---|---|---|
| Metric tons | — | — |
| Barrels | — | — |
| US gallons | — | — |
| Cubic metres | — | — |
Price per unit
| Reference | Gross — seller | Net — buyer | |
|---|---|---|---|
| Per metric ton | — | — | — |
| Per barrel | — | — | — |
| Per US gallon | — | — | — |
| Per cubic metre | — | — | — |
Every figure above is taken from the offer as entered. If any of them is wrong, the correction is welcome and easily made.
This page, and what Magister Operis prepares
| This page — free | With Magister Operis |
|---|---|
| The offer valued at the reference price, per lift and over the contract | Pricing confirmed against the assessment the contract names |
| The spread, as one figure | The spread paid out to every party, in any configuration, to the cent |
| Product, price, procedures and personalities as the presenting party states them | The same four evidenced, in a file that passes pre-compliance (Bank Compliance) |
| Closing terms as stated | The closing packaged for the signatories’ partners or board to approve |
| A PDF to carry to your chain | The file presented to the buyer, direct |
The snapshot is free and needs no introduction. The file a bank or a board signs against is prepared with Magister Operis, on terms set for each engagement. Contact:
Buyer #1 — direct buyer of refined products
Magister Operis is direct to the buyer. Reference MAGOP/COM/RFQ/20MAR2023A. Full requirement: Buyer #1 — Petroleum Products Wanted.
| Product | Refined products: diesel and gas oils (EN 590 10 ppm and equivalents), jet fuel (Jet A-1), fuel oil, LPG and LNG; gasoline considered. Any origin except Iran, Ghana, Nigeria, Sudan and Syria. Immediately liftable: no contract that waits 90 days for its first lift. |
| Price | At or near refinery pricing. USD or EUR. |
| Procedures | Contracts of 12 months or more; spot quantities are taken as scheduled lifts within a contract. FOB, the buyer has its own shipping. One-month revolving documentary letter of credit, renewed lift by lift; a transferable letter of credit in some cases, never a divisible one. No standby letter of credit or bank guarantee. UCP 600. Payment on matching Q&Q results, against transfer of title. |
| Personalities | Introductions are to the actual seller. The seller evidences supply with a refinery supply letter. The buyer does not issue an ICPO; it issues an LOI once the seller is shown to be real, a match and ready, and meets face to face. Intermediaries who make the introduction are protected; their fee agreement is signed once the seller is shown to be real, a match and ready. |
| Procedure |
|
Bringing the offer to Magister Operis
Send the exported snapshot to
Standing, by party
| Seller or refinery | The entity’s registration, and counsel acting for it. Supply evidenced: a refinery supply letter confirming current capacity and availability, or title and storage documents for product in tank. The ultimate beneficial owner (UBO) is identified to that counsel. |
| Buyer | An entity that owns the funds to purchase, or can evidence the infrastructure that ensures purchase performance: the bank that issues the letter of credit and, on FOB terms, the shipping. |
| Intermediary | Its introduction and the connections it knows of. Magister Operis defines the rest for packaging. |
A party whose standing is evident on the public record, such as an established operator with a competent corporate website, verifiable officers and published operations, is not asked for proof of funds or proof of product. A party with genuine assets or funds whose standing is not yet evident establishes it with the documents set out in Bank Compliance, on its own or with help from Magister Operis.
A UBO who prefers to stay off the record is accommodated. Magister Operis does not need the UBO’s name, accounts or banker; the UBO’s counsel holds them. That counsel is named, engaged, reachable on a firm-domain address and carries active professional indemnity (errors and omissions) cover sized to the transaction (Bank Compliance, item 3). Disclosure then runs counsel to counsel.
Commissions are paid at closing, lift by lift. Closing requires approval by the signatory’s partners or board, and they approve on records. The sooner the records arrive, the sooner the file is packaged.
Reference: what banks require, item by item, in Bank Compliance; why an owned-domain address speeds a file, in Professional Email Addresses.
KYC / AML
An offer is presented to a buyer once its file passes pre-compliance, the standard the world’s largest banks apply to each other (Wolfsberg Group). The file is defined item by item in Bank Compliance: the parties, their counsel, banking relationships and intermediaries, and the title, supply and inspection history of the product. A file already in order is presented as it stands, and closes as fast as the obvious quality of its paperwork and the parties’ websites supports. Where a party wants a full set of legal documents within a bankable KYC package, that is available on request through Integrity as a Service.
Every engagement is governed by the firm's Method and Disclaimer; intermediaries should also review the firm's Due Diligence standards.