Petrol also referred to as gasoline, is a mixture of volatile, flammable liquid hydrocarbons derived from petroleum and used as fuel for internal-combustion engines. It is used as fuel to power vehicles, heating units, and machines, as well as being converted into plastics and other materials. Majority of the world relies on petroleum for many goods and services. The petroleum industry is extremely powerful and is a major influence on world politics and the global economy.

• Cost Insurance and Freight (CIF): The seller handles everything from loading the vessel, paying for insurance and shipping the product to the country the buyer wants it delivered.
• Freight On Board (FOB): The seller is responsible for handling the transportation of the goods to the port of shipment and loading cost. Once the goods are loaded on the ship, all liabilities transfer to the buyer. Liabilities like unloading, insurance, marine freight transport and transporting products to its destination.
• Tanker Take Over (TTO): The buyer takes over the hiring of a loaded tanker along with the product it contains.
• Tanker To Tanker (TTT): The buyer hires his vessel and uses the same to purchase products from the seller.