International sales contracts for oil and oil products: conclusion and performance

Authors

  • Andrej Moiseevich Golubchik Russian Foreign Trade Academy
  • Pavel Borisovich Katykha Gubkin Russian State University of Oil and Gas

DOI:

https://doi.org/10.24412.2072-8042-2019-00029

Keywords:

International purchase contract, INCOTERMS, option, cargo margin, conclusion and performance of contracts, surveyor

Abstract

Despite the fact that any international purchase and sale contract for oil and oil products implies settlements for tens of thousands of tons and millions of US dollars, such contracts are not singular as every day hundreds of them are concluded and performed globally. Successful execution
of such transactions is based on high technical efficiency and procedures standardization. The authors consider the technology of conclusion and performance of oil trading contracts on FOB terms (INCOTERMS® 2010). Under this worldwide popular condition the producer executes the
sale of oil and oil products. In modern Russia such condition of sale is applied practically in 100% of transactions.

Author Biographies

Andrej Moiseevich Golubchik, Russian Foreign Trade Academy

Candidate of Economic Sciences, Professor

Work place, position: Russian Foreign Trade Academy (119285, Moscow, Pudovkina, 4A), Department of foreign trade and international transactions - Professor

Pavel Borisovich Katykha, Gubkin Russian State University of Oil and Gas

Candidate of Economic Sciences

Work place, position: Gubkin Russian State University of Oil and Gas (National Research University) (65 Prospect Leninsky, Building 1, Moscow, 119991), Department of Crude oil trading and logistics - Associate Professor

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Published

2024-02-08

How to Cite

Golubchik, A. M., & Katykha, P. B. (2024). International sales contracts for oil and oil products: conclusion and performance. Russian Foreign Economic Journal, (2), 84–94. https://doi.org/10.24412.2072-8042-2019-00029

Issue

No. 2 (2019)

Section

Foreign trade activity

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