Crude Oil (Sellers) Published date: July 6, 2020

A. PRODUCT: NBLCO (Nigeria Bonny Light Crude Oil).
B. SOURCE: NNPC Joint Venture Operators - Off-OPEC bulk allocation.
C. DELIVERY METHOD: CIF.
D. CIF DELIVERY PORT: ASWP.
E. PROOF OF PRODUCT:
4th Quarter allocation.
CONTRACT No.: TBA. - (To be advised). EXPORT LICENCE No.: TBA.
CARGO Ref. No.: TBA.
F. QUANTITY/FREQUENCY: TBC (Buyer to state in writing by return email LOI, his preferred quantity and frequency). We can do as much as 2 - 4 million barrels per month.
G. PRICE, CREDIT PERIOD & CURRENCY
The price to be paid shall be based on the loaded quantity of Crude Oil for each shipment based on standard barrels and under “Dated Brent” as in the Platt’s Oil gram Report. The applicable currency in respect of payment for the Cargo shall be United States Dollars (USD). The preferred instrument of payment shall be SBLC.
The price shall be calculated on the three (3) days average mean quotation, one day before the date of loading, the day of loading, and the day after day of loading.
CIF PRICE DISCOUNT: Please note that given discount is time sensitive and Seller reserves the right to change it at anytime without notice (unless already bound by contract).
H. TECHNICAL SPECIFICATIONS
Specific Gravity (API)
34-38
Density at 20 degrees, CG.CM, max 0.85
Basic Salt Water (BSW) 0.6 % Vol
Color Dark Brown
Acid Number 0.39
Reid Vapor 6.52 max (PS)
Water & Sediment % max 1.0
Iron, wt ppm 1.0
Vanadium, wt ppm 2.0
Nickel, wt ppm 4.0
Pour Point below 40 deg. F
Sulfur Content, % wt 0.14
All Parties agree to a tolerance level of plus or minus 5% - 10
CIF PROCEDURE:
1. Buyer upon receipt of this offer sends LOI duly signed by the Buyer, and Seller releases his Sales and Purchase Agreement (SPA) via electronic mail to the Buyer.
2. Buyer countersigns and seals the Agreement accepting specified quantity and frequency, and by so
doing, confirming this agreement with all the Procedure, Discount, Quality and Quantity as given andforwards a copy electronically to the Seller.The electronic copy of this Sales and Purchase Agreement duly executed by both parties is legally binding and enforceable. Both parties deposit copies of the Agreement with their respective banks.
3. Buyer Issues an Operative Irrevocable Revolving Standby Letter of Credit (SBLC) from a PRIME BANK for one full 2-4 Million barrel vessels which will revolve after each delivery.
4. Seller’s bank issues a 2% performance bond (PB) which will activate buyer’s Standby Letter of Credit (SBLC).
5. Seller nominates a vessel and then commences loading the cargo. He sends loaded vessel details, to Buyer including full sets of Non –Negotiable Cargo Papers.
6. Master of vessel shall send ETA / NOR to Buyer’s discharge port and making it available to Buyer; until the vessel arrives at port and discharges cargo. Buyer’s inspectors conduct Q&Q.
7. Payment of crude oil to be effected by SWIFT WIRE MT103 for the value of crude oil indicated in the SPA. Payment shall be made by Buyer within 72 HOURS after completion of discharge and Q&Q confirmed as being correct.
8. Payments are made by Swift Wire Transfer directly to the Seller’s bank accounts and commission Agents as will be stipulated in the IMFPA in the SPA within three (3) international banking days after product delivery,
discharge at Buyer’s nominated port of discharge against presentation of stated shipping documents (non- negotiable copies) at Buyer’s bank.
PRICE, CREDIT PERIOD & CURRENCY
1. The price to be paid shall be based on the loaded quantity of Crude Oil for each shipment based on standard price per barrel and quoted under “Dated Brent' as in the Platt's Oil gram Report
MINUS $5.00 GROSS.
CIF PRICE DISCOUNT (Platts less $5.00 Gross):
Please note that given discount is time sensitive and Seller reserves the right to change it at anytime without notice (unless already bound by contract).
2. The applicable currency in respect of payment for the Cargo shall be DOLLARS (UNITED STATES).
3. The price shall be calculated on the three (3) days average mean quotation, on three consecutive and different publication dates after the day of loading or as mutually deemed and agreed by the parties.
The day of loading shall be the day on which loading is completed for each cargo which shall be when the loading hose connections are disconnected after loading is complete
4. The Price shall be a Discount to DTD Brent of US FIVE ($5.00) Dollars GROSS.
Thanks for your corporation as we look forward to a mutually rewarding collaboration!
Interested buyers are welcome to contact us for more information:
Email: adg.holding@asia.com | creativebusinessperson@mail.ru | creativebusinessperson@aol.com |alliancedevelopmentgroup@yahoo.com
Contact Person: Akmal Karimov

• Company Name: OGBODO GIANT PLC Nigeria
• Country: Nigeria

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