Our Service

We are committed to support the Local Content Act signed into law on 22nd April, 2010. We focus on sustainable ways of maximizing our Human Resources, materials, Equipments and Services in our operations.

Oil & Gas Trading

  1. Marketing and Sales of Bonny Light Crude Oil
  2. Refined Petroleum Products

Equipment Leasing

  1. Heavy Duty Equipments
  2. Earth Moving Equipments

Logistics Management & Procurement

  1. Oil Trucking Logistics
  2. Oil Equipments Procurement

Vessel Sales & Chartering

  1. Oil Tanker Vessel Chartering
  2. Sales of Oil Tanker Vessel
  3. Oil Tanker Vessel Bunker

Training & Consultancy

  1. Training of Employees/Independent Brokers
  2. Oil and Gas Consulting Services

Crude Oil Supplies

Crude Oil is ranked among the most liquid commodities in the World, meaning high volumes and clear charts of oil trading. MGC Energy is a major game player in crude oil supplies in Nigeria.

3 Categories Of Sales Of Nigeria Bonny Light Crude Oil

MGC Energy... Energy For The World...

ON OPEC

1.74 Million/Day

Nigeria Quota is 1.74 Million Barrels per day; this is handled mainly by the Presidency through NNPCL Tower Office in Abuja, Federal Capital Territory, Nigeria.

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ON ALLOCATION

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This is for Major Oil Companies allocated Oil Fields and they do Oil exploration in Joint Venture Agreement with Nigeria National Petroleum Corporation Limited (NNPCL), these Companies managed the 15 NNPCL Export Terminals:

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OFF-OPEC

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This is Excess Crude Oil sales allocated by NNPCL to Accredited Allottees to sell with Export Permit License Number and Bulk Approved DPR Ref Number; this is the Category of Oil MGC sells for our NNPCL Accredited Allottee otherwise known as Loader to our Ready Willing and Able Buyers/Off-Takers.

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MGC Crude Oil Trading Strategies

MGC Energy... Energy For The World...

Crude Oil is ranked among the most liquid commodities in the World, meaning high volumes and clear charts of oil trading. It is the World economy’s primary energy source, making it a very popular commodity to trade. Oil Traders should understand how supply and demand affects the price of oil. Brent Crude is the World’s Benchmark for oil with almost two thirds of oil contracts traded being Brent Oil. WTI is America’s Benchmark oil, it is slightly sweeter and lighter oil compared to Brent.


The Payment and The Delivery Procedures

Procedures are the terms and conditions of agreement between the Seller and the Buyer for the delivery of product to the Buyer. Sales and Purchase Agreement (SPA) otherwise called the Contract contains the Procedure, delivery terms and conditions of sales, discount price, banking coordinates of Parties and governing laws. The Sales and Purchase Agreement is prepared and pre-signed by the Seller and Buyer review before signing, the electronically signed Sales and Purchase Agreement become binding between both parties. Electronic Document Transmission (EDT) is legally binding and shall be governed and construed in accordance with the British and Nigerian Laws of the negotiated and fully executed contract and that all electronic signatures shall be accepted and considered as valid as hand signature in accordance with Directive 199/93/EC of the European Parliament. The delivery and payment procedures vary and it depends on the Buyer’s delivery request. The most demand delivery terms for Bonny Light Crude Oil are:

  1. Tanker Take Over (TTO)
  2. Tanker To Tanker Transshipment (TTT)
  3. Free On Board (FOB) Otherwise known as Direct Terminal Loading
  4. Cost Insurance and Freight (CIF) Otherwise known as Destination Inspection (DI)