Services

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World Oil Group International, Limited, (WOGI), recognises the importance of saving time, disseminating accurate information and building Trust between Buyers and sellers.  WOGI, is a small boutique firm with giant clients.  We build solid relationships that yields highly profitable margins in the petroleum industry.  We only work with proven buyers and sellers of fossil fuels.

We only supply by means of CIF production contracts, ( 12 months with rolls and extensions ) to a minimum market value of 300 million USD per month. We do NOT offer trial or spot purchases (we can supply very large quantities in concurrent contracts)

All production contracts,

(written by  Baker McKenzie Law firm),  

sit with a security of 6 weeks market value behind them, 300 Million USD. This security can be in several forms i.e., SBLC, blocked funds in the buyers account, BG. The security covers the Product and logistic cost between production at the assigned refinery/s, pipeline to loading port and vessel to discharge at destination.

Payment, as mentioned is upon successful discharge of each vessel and within 5 banking days will attract a market discount of 15%. (Note, as per contract, longer payment time reduces discount to 10%)

We can deliver to ANY non-embargoed port worldwide and the contract can be tailored to suit various destinations.

A Standby Letter of Credit (SBLC / SLOC) is a guarantee that is made by a bank on behalf of a client, which ensures payment will be made even if their client cannot fulfill the payment. It is a payment of last resort from the bank, and ideally, is never meant to be used.

A bank providing a letter of credit should be a disinterested third party. If the bank’s customer fails to satisfy specific terms of an agreement, the bank—not the customer who failed to deliver—pays the beneficiary. Because it is credit, the customer ultimately is responsible for repaying the bank.

Firstly one needs to understand that banks do not advertise SBLC’s as part of their everyday banking products, the true reason behind this is simple, banks aren’t allowed to. Standby Letters of Credit (SBLC) are provided by high net worth clients with a large cash holding in a bank account. These high net worth clients usually have investment portfolios which include hedge funds, private equity, pension funds etc and these individuals can be truly hard to get in touch with, either because they choose to remain anonymous or they are just straight-up busy individuals..

In order to be sure these genuine providers are dealing with serious prospective buyers of our bank instrument we usually undertake serious checks and balances, this task is usually assigned to banks or financial instrument providers with direct links to them. These financial instrument providers such as MUFG or UOB are given the responsibility of making sure a strict screening process is adhered to and only prospective buyers who meet the necessary criteria are allowed access to the Genuine Provider.