Oil & Gas
Firstar’s first oil transaction was in 1974 when headed a Canadian and German delegations to Abu Dhabi to negotiate with the government for purchasing a sizable oil contract.
With it’s strong, reliable links with the decision makers in the Oil and Gas Industry, Firstar has supported several international Oil companies as well as sovereign countries for the supply and distribution of Oil Products and Equipment.
We trade in Crude and Derivatives On SPOT, TTO (Tanker Take Over), TTT (Tanker To Tanker), and Contract basis by CIF (Cost, Insurance and Freight) and FOB (Free On Board). Most common method of getting into a transaction is by doing a first trial lift by CI Dip and Pay or SPOT, either from a storage facility or by TTO/TTT from a vessel, which when completed successfully will lead into a Contract either CIF or FOB.
This way, both Buyer and Seller are able to test performing capability of both parties, before committing to a long-term contract.
In addition to providing Engineered Process Equipment of the highest quality to the Petroleum, Petrochemical, Chemical Process Industries and pipelines laying, Firstar deliver a range of services including oilfield services, OCTG, off-the-shelf API products, plant operation and maintenance and rotating equipment services as well as customized wellhead solutions.
Firstar can deliver any type of modular process equipment from single vessel skids to complete processing plants
– Electric Power Generation
– Switchgear and Control Buildings
– Pipeline Pump Systems
– Water Injection Plants