EN590 10ppm and Jet A1 from Dubai: What Petrolodex’s May 2026 SCO Gets Right That Most Don’t

TL;DR

• What: A Soft Corporate Offer (SCO-PETROL-2026-001) for EN590 10ppm ULSD and Jet A1, issued May 2026 by Petrolodex Corporation FZCO, Business Bay, Dubai.
• Where: CIF or FOB from Fujairah, Hamriyah, Mersin, Rotterdam, Houston, and Singapore.
• Payment: Transferable LC/DLC via MT760 as guarantee; MT103 settlement within 48 hours of SGS inspection at the discharge port.
• Bank: Top 25 prime bank only. Full KYC/AML applies. No shortcuts.
• This article: Unpacks every step, decodes the SWIFT terminology, identifies the red flags in competing offers, and tells you exactly what to send back if you’re ready to transact.

The Problem With the EN590 and Jet A1 Market Right Now

Roughly 40 ‘Soft Corporate Offers’ for EN590 and Jet A1 hit trading inboxes every week. Most of them share the same tells: port references that don’t match the product grade, payment clauses buried on page three that ask for upfront wire transfer before any proof of product, and procedures that no trade finance bank would recognize.

This article is about a different kind of document.

Petrolodex issued SCO-PETROL-2026-001 in May 2026 for EN590 10ppm ULSD and Jet A1. The offer is worth reading slowly because the mechanics behind it match how refined product actually changes hands in 2026 — and because understanding the difference between a clean SCO and a suspicious one is, at this point, a necessary skill.

If you’re a serious end buyer, a vetted mandate, or a trade desk trying to benchmark what a credible SCO looks like, here’s the breakdown.

Who Is Petrolodex Corporation FZCO?

Petrolodex sources, trades, and delivers refined petroleum products for institutional buyers across the Middle East, Europe, and Asia. Three things define the operational setup:

The hubs are tier-1 and consistent. Loading and discharge from Fujairah and Hamriyah on the Arabian Gulf side, Mersin into the Eastern Mediterranean, Rotterdam covering ARA, Houston for the US Gulf Coast, and Singapore for Asia. These aren’t aspirational names. They’re the six terminals where EN590 and Jet A1 genuinely change hands at scale.

The delivery modes are explicit. FOB, CIF, and tank-to-tank — all confirmed in the SCO, not left to be “worked out after ICPO.”

The compliance posture is named and specific. The SCO references UAE Resolution No. 136 of the Ministry of Industry and Commerce (20 February 2020), Annex II, for Gasoil/Diesel Type A (EN 590) and Jet A1. KYC/AML verification is stated as mandatory on all parties.

The registered office address — Office 1904, Damac XL Tower, Business Bay, Dubai — is a working corporate address. The company is verifiable at petrolodex.com.

What’s on Offer: EN590 10ppm ULSD and Jet A1

EN590 10ppm Ultra-Low-Sulphur Diesel

EN590 is the European standard automotive diesel specification. The 10ppm refers to the sulphur ceiling — 10 parts per million — which is mandatory across the EU, required in the GCC, and adopted in a growing number of African and Asian markets as emission standards tighten. If you’re buying for terminal injection, fleet supply, or distribution into regulated markets, EN590 10ppm is the benchmark grade. There is no close substitute in those markets.

Jet A1 Aviation Kerosene

Jet A1 is the dominant commercial aviation fuel outside North America. In 2026, jet fuel crack spreads are widening again after a flatter Q4 2025 — IATA’s Jet Fuel Price Monitor tracks this in near real time — which means credible CIF Jet A1 offers from Fujairah and Singapore are genuinely scarce. Supply chain tightness makes counterparty due diligence more consequential, not less.

Transaction Terms at a Glance

The CIF Procedure, Step by Step

This is where most soft offers lose credibility. Either the steps are vague enough to mean nothing, or the sequence runs backwards in a way that tells you the seller either doesn’t understand trade finance or is hoping you don’t.

Petrolodex’s procedure mirrors the six-step flow that trade finance desks at Rotterdam and Houston actually recognize.

Step 1 — Buyer issues ICPO, CIS, and POF

Buyer accepts the SCO and sends an Irrevocable Corporate Purchase Order, a Client Information Sheet, and a Proof of Funds. Together these say: we are a real buyer, we want this volume, and we have the capital behind it. If you can’t produce all three together, you’re not ready.

Step 2 — Seller issues draft SPA

Petrolodex sends a draft Sales and Purchase Agreement. Read it line by line. Price, volume, delivery schedule, and penalty clauses all get locked in here.

Step 3 — Buyer sends MT799; Seller releases Partial POP

The buyer’s bank issues a SWIFT MT799 — a bank-to-bank signal that the buyer is ready, willing, and able. Once received, Petrolodex sends a Partial Proof of Product: Statement of Availability, Commitment to Supply, and Product Passport. This is when the deal stops being theoretical.

Step 4 — Buyer issues Transferable LC/DLC via MT760

After Petrolodex’s banker approves the verbiage, the buyer’s bank issues a Transferable Documentary Letter of Credit via SWIFT MT760. The bank must be a Top 25 prime bank — JPMorgan, HSBC, Citi, BNP Paribas, Deutsche Bank, Standard Chartered, Emirates NBD, First Abu Dhabi Bank. A regional commercial bank will not clear this step.

Step 5 — Seller releases full POP

Petrolodex delivers the complete Proof of Product package per the agreed delivery schedule.

Step 6 — Shipment, SGS inspection, MT103 settlement

Cargo arrives at the discharge port. SGS or equivalent performs Q&Q inspection — quality and quantity. On a clean result, the buyer’s bank releases full payment via SWIFT MT103 within 48 hours (two banking days). Title transfers. Done.

The 11 Documents Required for MT103 Release

Every trade finance desk runs a checklist before releasing MT103 payment. Petrolodex commits to the full standard package:

• Seller’s signed commercial invoice — 3 originals, 3 copies
• Packing list — 3 originals, 3 copies
• Certificate of Analysis (batchwise) — 3 originals, 3 copies
• Certificate of Origin — 2 originals, 3 copies
• Marine insurance policy at 110% of cargo value — 3 originals, 3 copies
• Declaration of shipment to insurance company — 3 originals, 3 copies
• Shipping line declaration that the vessel is under 25 years old — 3 originals, 3 copies
• Shipping line declaration that the vessel and owners are not under US, UN, or EU sanctions
• SGS certificate at loading port — 3 originals, 3 copies
• SGS certificate at destination port — 3 originals, 3 copies
• Full set of bills of lading to the order of the buyer’s bank — 3 originals, 3 copies

For experienced end buyers, this list should be immediately familiar. It’s the standard trade-finance documentary package. Nothing unusual, nothing missing — which is exactly what you want from a counterparty.

Three Things This SCO Gets Right

1. The payment sequence runs in the right direction

Buyer issues MT760 as guarantee. Seller is paid via MT103 after SGS inspection at the discharge port. That’s how institutional trade finance works. Any deal asking for upfront wire transfer before proof of product — regardless of how it’s presented — is not trade finance. It’s risk transfer onto the buyer, and it should be declined at the point it’s proposed.

2. The sanctions clause is specific and current

Declaration H explicitly covers the vessel and vessel owners against US, UN, and EU sanctions lists. In 2026, with shadow-fleet dynamics continuing to affect Russian-origin barrels, this clause is no longer standard boilerplate — it’s a real operational requirement that tells you Petrolodex’s compliance function has read the relevant regulations recently.

3. The ports match the product

Fujairah, Hamriyah, Mersin, Rotterdam, Houston, Singapore. Every one of those ports has the infrastructure, storage capacity, and refinery or terminal relationships to handle EN590 10ppm ULSD and Jet A1 at commercial volumes. Offers referencing ports that don’t handle these grades at scale are a signal worth taking seriously.

What Qualified Buyers and Mandates Should Send Back

If you’re a qualified end buyer or a vetted mandate, here’s the reply pack that moves a Petrolodex inquiry from “interested” to “in contract”:

1. Company KYC pack: Certificate of Incorporation, Memorandum of Association, passport copy of the authorized signatory, board resolution approving the purchase.
2. ICPO on company letterhead, signed and stamped, referencing Ref: SCO-PETROL-2026-001.
3. Client Information Sheet (CIS).
4. Bank Comfort Letter or Proof of Funds — dated within the last 7 days.
5. Tank Storage Receipt or Tank Storage Agreement (for tank-to-tank transactions).
6. Designated bank coordinates for SWIFT messaging.

Frequently Asked Questions

What is a Soft Corporate Offer (SCO) in oil trading?

A Soft Corporate Offer is an indicative, non-binding document issued by a seller to a prospective buyer, summarizing the product specification, pricing basis, delivery hubs, and transaction procedure. “Soft” means the terms are indicative — they get confirmed and locked in at the Sales and Purchase Agreement stage. An SCO is the starting document in a refined-product transaction, followed by the ICPO, the SPA, the Proof of Product, and eventual shipment.

Is Petrolodex Corporation FZCO a legitimate supplier?

Petrolodex Corporation FZCO is a registered UAE energy trading and logistics company headquartered at Office 1904, Damac XL Tower, Business Bay, Dubai. The May 2026 SCO references compliance with UAE Resolution No. 136 (20 February 2020) and states that full KYC/AML verification is required on all parties. The company is verifiable at petrolodex.com.

What is the minimum order quantity for EN590 or Jet A1?

Minimum and maximum quantities are confirmed in the draft SPA after the ICPO is received, allowing Petrolodex to match supply to the buyer’s discharge port, delivery window, and storage capacity. Volumes typically scale from trial shipments into 12-month term contracts for qualified buyers.

Which banks are accepted for the SWIFT MT760?

Only Top 25 prime banks, with verbiage pre-approved by Petrolodex’s banker. Accepted institutions include JPMorgan Chase, HSBC, Citibank, Bank of America, BNP Paribas, Deutsche Bank, Standard Chartered, Emirates NBD, and First Abu Dhabi Bank. Regional commercial banks do not meet the threshold.

How long does an EN590 or Jet A1 transaction take from SCO to first delivery?

Realistically, 21 to 45 days from ICPO acceptance to first vessel arrival at the discharge port. The main variable is the buyer side — buyers who arrive with KYC pre-staged and banking pre-arranged close in the lower half of that range. Delays in MT760 issuance are the most common bottleneck.

Does Petrolodex offer tank-to-tank delivery?

Yes. The SCO explicitly covers tank-to-tank transactions from Fujairah, Rotterdam, Houston, and Singapore, alongside standard CIF and FOB modes. Tank-to-tank is the preferred mode for buyers who already control storage at the discharge hub.

What inspection standard applies to EN590 and Jet A1 cargoes?

SGS (Societe Generale de Surveillance) or an equivalent independent inspector, performing Q&Q (quality and quantity) at both the loading port and the discharge port. SGS certificates at both ports are part of the documentary package required for MT103 payment release.

What is SWIFT MT760 in oil trade finance?

SWIFT MT760 is a bank guarantee message transmitted via the SWIFT network. In commodity trade finance, MT760 is used to issue a Standby or Documentary Letter of Credit — it puts the buyer’s bank on the hook as a guarantee to the seller before cargo ships. It is the standard mechanism for “guarantee first, deliver, inspect, then pay” transactions.

What is SWIFT MT103 and when is it triggered?

SWIFT MT103 is a single customer credit transfer message — in plain terms, it is the settlement wire. In a deal structured with MT760 as guarantee, MT103 is triggered within 48 hours of a clean SGS inspection report at the discharge port. It settles the transaction and transfers title to the buyer.

Can I verify Petrolodex’s SCO before responding?

Yes. The SCO is referenced as Ref: SCO-PETROL-2026-001, dated May 2026. You can contact Petrolodex directly at info@petrolodex.com or visit petrolodex.com to verify the entity and confirm current offer terms before issuing an ICPO.

The Bottom Line

The May 2026 Petrolodex SCO is what a credible refined-product offer is supposed to look like: clear product specs, six real delivery hubs, banker-grade payment mechanics with the sequence in the right order, and a sanctions clause that reflects actual 2026 regulatory exposure.

For institutional buyers and vetted mandates working the EN590 10ppm ULSD and Jet A1 market out of Dubai, this is a document worth taking seriously — not because of how it’s presented, but because of the procedure underneath it.

Contact Petrolodex Corporation FZCO at info@petrolodex.com or visit petrolodex.com. Office 1904, Damac XL Tower, Business Bay, Dubai, UAE. Send the right paperwork, point it at a Top 25 bank, and the deal moves.

That’s how product actually trades.

About: Published by the Petrolodex desk, Dubai. Petrolodex Corporation FZCO is a UAE-registered energy trading and logistics company supplying EN590 10ppm ULSD and Jet A1 to institutional buyers worldwide. This article reflects the indicative SCO dated May 2026 (Ref: SCO-PETROL-2026-001); all final terms are subject to SPA negotiation and KYC/AML verification.