Quiz 1: Overview Activities/Supply OPS/INCOTERMS

1. Which below signify PETRONAS as a fully integrated business?

• PETRONAS operates from the Upstream to the Downstream, handling products ranging from Crude Oil, petroleum products, LPG, Gasses, LNG, Petrochemical products.

• PETRONAS has petrol stations all over Malaysia

• PETRONAS operates all over the world

• PETRONAS focusing only on Upstream activities.

What is NOT the role Supply and Operations?

• Add values to the trade

• Prevent value leakages

• Mitigate risk and provide logistical and operations support

• Conclude any commercial deals

Which of the following is NOT part of pre-operations activities?

• Issuance of documentary instruction

• Settlement of demurrage and claim

• Scheduling and nomination of vessels

• Planning of lifting programme

Which of the following are the stakeholders of Supply and Operations ?

• Terminal

• Authorities ie: Royal Custom, Port Authority etc

• Finance

• All of the above

What is the main roles of independent surveyor

• To update eta and movement of vessel

• To witness quality and quantity determination

• To issue loading or discharging documents

• To provide weather forecast

What is the main roles of shipping agent

• To update eta and movement of vessel

• To witness quality and quantity determination

• To issue loading or discharging documents

• To provide weather forecast

INCOTERMS DO NOT define where the title will transfer

• Yes, the statement above is true

• No, the statement above is wrong

• Not sure

Where is the point of RISK transfer to buyer for CIF (INCOTERMS 2020) ?

• Once the cargo is loaded onboard vessel at load port

• Once the cargo is in transit to discharge port

• Once the cargo arrived at discharge port

• Once the cargo discharged into the shore tank at discharge port

Where is the point of TITLE transfer to buyer for FOB (INCOTERMS 2020) ?

• Once the cargo arrived at delivery port

• Cargo in shore tank

• Once the cargo loaded on board vessel at loading port

• None of the above, depend on the Contract

Which of the following is NOT part of INCOTERMS ?

• FOB

• FOC

• FCA

• DDP