About Petroverseas

exporters and importers of Crude oil trading as facilitators, intermediaries and re-sellers

We trade Crude oil on the open market to refiners worldwide.

We are experienced traders with a comprehensive database of contacts within the industry. We have been in operation over 2 years and turned over volume of export with this year exceeding.


We register offers and request for produce from within our community to buy and sell. We also directly engage with our end users and producers through our physical presence on the ground.



We structure finance and control risk in the supply process through the physical movement of the cargo to the point of transfer of ownership by involving in initial negotiations, structuring finance, and organising logistics. All done under clear and very simple trading terms designed to protect and secure the interest of all parties involved.


We choose the deals we love and love what we do with a passion –

When you’re looking for reputable fossil fuel trade partner, Petroverseas.


We are re-sellers, functioning under the Cactus-Global brand as part of the Cactus-Global Group.

Transaction Procedure   (Incoterms 2010) 

A-Free on Board (FOB)Vessel to Vessel or Tanker to Tanker

1-Seller sends Buyer offer on available stock offer

2-Buyer and Seller agree and sign contract

3-Buyer's agents visit tank farm or pregnant vessel to inspect the cargo. 

4-Buyers Bank post 100% Irrevocable Confirmed L/C to seller's Bank

5- Seller loads Buyer's vessel or tank with inspected cargo.

6-Buyer's bank verifies shipping Documents received from seller and wires payment to Seller's bank


B-Vessel Take Over (VTO)

1- Seller sends Buyer available stock offer


2-Buyer and Seller agree and sign contract​

3-Buyer's agents board to inspect the cargo.


4-Seller introduces Buyer to vessel handler to negotiate chartering vessel.

5-Buyers Bank post 100% Irrevocable Confirmed L/C to seller's Bank

6-Seller's bank sends Buyer's bank copies of shipping documents for verification. 

7-Buyer's bank pays for cargo and completes chartering arrangements with vessel handlers

8-Cargo ship sails to Buyer's instructed destination

C-Cost Insurance and Freight (CIF)

1. Seller issues Full Corporate Offer (FCO).


2. Buyer verifies the FCO of Seller.


3. Seller/Buyer sign/seal contract.


4. Buyer’s Bank post instrument in Seller’s bank.


5. Seller nominates, load vessel and tenders a NOR/ETA to receiving facility.


6. Upon arrival at Discharge Port, Buyer obtains clearance for vessel inwards.


7. Seller’s vessel Captain issues ATB to Buyer’s Inspector/Supercargo to confirm Cargo.


8. Q&Q is conducted before & after discharge, then invoicing by Seller based on the inspection report.

9. Payment by SWIFT within 72 hours of invoice and Cargo documents’ presentation.

Pre Payment condition

1) Proof of funds only after Proof of product

2) Proof of product only after signing of contract

3) Proof of product documents-

                    a. Quality and Quantity Analysis Report

 a. Quality and Quantity Analysis Report

                b. Legalized Commercial Invoice

                c. Product Passport

                d. DTA.

                e. Export License
                f. Availability of Product endorsed

                g. Tank Storage Receipt.

                h. Authority to Sell & Collect (ATSC)

Shipping documents 
9.1 In order to conveniently effect payment at the counters of the Seller’s Bank  
the following documents must be presented.

Commercial Invoice: (on the letterhead of the exporting company)

Names, addresses of consignor and consignee, description of goods, name of the vessel or airlines, data of sailing, port of loading and port of discharge, net and gross weight, quantity, unit price, total value of the shipment, contents of each container, currency, number of L/C and freight and insurance.

Set of Clean original Bill of Lading or Airway bill: (Issued by the steamship)

Value, net and gross weight, quantity of shipped goods, name and address of consignee and consignor, shipping company and/or shipping agent, name of vessel and date of sailing, port of loading and port of discharge, etc.

Certificate of Origin: .(Issued by the exporting firm)

Vessel name, date of sailing, nationality, origin and street address of goods. A signed true and correct document statement. An attached, notarized, appended declaration to certificate of origin to include name and address of the importer, description of the goods, and address of the shipping company.

Notarized Steamship certificate: (Issued by the steamship)

Name of vessel, and previous name (if applicable), nationality of vessel, owner of vessel, name(s) of ports (airports) that Vessel (plane) will call on en route to the Port (airport) of discharge.

A- Port (airport) of loading

B- Port (airport) of discharge

Packing List: (Issued by the exporting firm)

Names and addresses of consignor and consignee, description and value of goods, net and total weight, quantity, number of L/C (if applicable).

Insurance Certificate: (Issued by an insurance company in at least one original)

Amount of insurance, description and value of insured goods, name of vessel, port of loading, port of discharge, name and address of beneficiary. Name and full address of the duly qualified and appointed agent or representative

Masters receipt of samples.

Vessel master’s acceptance receipt of cargo. 

Ullage report.

Tankers time sheet.

Cargo manifest. 

Any other documents that the Buyer may reasonably request


3) Payment guarantee by 100% Irrevocable, confirmed, transferable Documented Letter of Credit (DLC)