Crude oil, refined products, natural gas and LPG move through complex commercial chains, producers, state companies, refineries, traders, terminals, maritime carriers and banks, often spread across multiple jurisdictions. That complexity creates room for false representations, documentary fraud, sanctions violations and product that simply doesn't exist. OFAC identifies document falsification, vessel-location manipulation and ship-to-ship transfers as common methods used to disguise the origin of oil.
Authority to Sell Is Different From Knowing a Source
One of the biggest risks in this sector: someone can genuinely know where the product sits without having real authority to sell it. Authorisation letters, allocation letters and mandates are only representations until they're tied back to the legitimate titleholder and confirmed by an independent source. We test whether the mandate chain actually ends with an entity that holds real authority, or whether it breaks down somewhere in the middle.
Product That Doesn't Exist
Old certificates from other lots, recycled inspection reports, tank storage receipts with no terminal confirmation, quantities that exceed the facility's real capacity. Oil sitting in a terminal never proves, on its own, that the seller owns it or has the right to transfer it.
The Vessel Tells a Story the Contract Doesn't
Every vessel carries an IMO number, which stays with it even when the name, owner or flag changes. We analyse AIS history, gaps in transmission, ship-to-ship transfers and shadow-fleet indicators, opaque ownership, inadequate insurance, frequent flag changes. A single anomaly proves nothing on its own, but alongside the rest of the route and documentation, it changes everything.
Technical Specification, Not Adjectives
"Crude oil" or "EN590" are not specifications. API gravity, sulphur content, flash point, distillation curve, each product needs its own parameters. We don't confirm quality in a laboratory, we verify whether the specification is internally coherent and whether the steps for independent confirmation are clear.
Terminal and Storage
Reserved capacity is not the same as product actually received. Terminal documents are one of the most commonly used tools for creating the appearance of immediate availability that isn't real. We verify the terminal's existence, the operator's identity, and exactly what still needs direct confirmation from them.
Price and Payment
Discounts well above normal market levels, "tank extension" fees, payments to agents outside the contract, late changes to banking details. We analyse the procedure and identify exactly which points require bank-to-bank confirmation, without substituting for that confirmation.
An offer doesn't represent availability, and a document doesn't represent confirmation. The transaction only becomes credible when product, authority, logistics and payment converge in the same chain of evidence.
