Compliance & HSE
Compliance, quality and safety.
Our position
Compliance is a prerequisite for every transaction.
The international oil market carries significant risks of sanctions evasion, financial crime and fraud. Oil Trans addresses these risks rigorously, both to meet its legal obligations and to give customers, banks and partners full confidence in the integrity of every cargo it supplies.
The compliance and risk function reports directly to the Management Board, independently of the commercial teams, and has the authority to suspend or decline any transaction at any stage.
Our standards
Four pillars of our compliance framework.
Sanctions and trade controls
Oil Trans complies with the sanctions regimes of the European Union, the United Nations and the Netherlands, and applies UK and US measures wherever they are relevant to a transaction, its financing or the vessel involved.
- Every customer, supplier, vessel and shipowner screened before a deal is agreed
- Origin documented for every parcel we buy
- Vessel histories checked for ship-to-ship transfers and gaps in tracking
Know your customer
Before entering into any business relationship, Oil Trans establishes the identity, ultimate ownership and source of funds of the counterparty. Suppliers are subject to the same checks as customers.
- Company registration and ultimate beneficial owners verified at source
- Directors and owners screened against sanctions, PEP and adverse-media lists
- Bank details confirmed by phone before the first payment, and after any change
Independent inspection
Quantity and quality are verified independently. Every transfer of title is measured and sampled by an independent inspection company appointed under the contract.
- Gauging and sampling to recognised ISO, ASTM and API methods
- A certificate of analysis from the inspector for every parcel
- Sealed samples kept so any dispute is settled on evidence
Health, safety and environment
As Oil Trans does not operate terminals or vessels itself, partners are selected on the strength of their safety performance and subject to ongoing review.
- Partners selected on safety performance as well as cost
- Every incident and near miss on our cargoes reported and followed up
- A growing share of renewable fuel in what we sell
Onboarding
Counterparty onboarding.
New customers and suppliers complete our onboarding questionnaire and provide standard corporate documentation. Oil Trans provides its own registration documents and bank confirmation in return. Onboarding is typically completed within two weeks.