Crude Oil (Sellers) Published date: December 24, 2019
Modified date: December 25, 2019

PROCEDURE (DIRECT NNPC)     CIF ASWP

PRICE: $10/4

QTY: 2M-10M BARRELS WITH R&E

PROCEDURE/SHIPMENT:


Buyer & Seller Sign & Seal this contract agreement and exchange the signed copy by both Parties is considered legally binding and enforceable

 Seller issue Signed SPA Contract in PDF with the loaded copies shipping documents Proof of Products (POP) loaded in the name of pipelines and product marketing company (PPMC) as a subsidiary and strategic business unit of the Nigerian National Petroleum Corporation (NNPC). Buyer verify the vessel documents.

  Within 24hours Seller issue Pro-Forma Invoice to the Buyer for payment sum of 250,000 USD (Two Hundred & Fifty Thousand US Dollars) OR place a financial instrument (MT760/ SBLC covering the cargo cost of 2,000,000 Barrels Bonny Light Crude Oil to NNPC Fiduciary Logistic Account. 

 Within 48hours upon receipt of payment confirmation, the products 2,000,000 Barrels Bonny Light Crude Oil will be officially Re-assigned to Buyer as the consignee of the products  by the officers in Marine and Shipping Department of the Nigerian National Petroleum Corporation (NNPC) Bonny Terminal for buyer to access cargo on board the vessel and possess authority  to discharge the cargo.

 Within 48hours of completion of Re-assignment 2,000,000 Barrels Bonny Light Crude Oil in Buyers name.

 Buyer Receives the complete full set of shipping documents (proof of products) as the consignee before payment of the cargo including:


A) 1 Original and 3 Copies non-negotiable Copies of Bill of Lading.

B) 1 Original and 3 Copies of Certificate of Quantity.

C) 1 Original and 3 Copies of Certificate of Quality.

D) 1 Original and 3 Copies of Certificate of Origin.

E) 1 Original and 3 Copies of Masters Receipt of Samples

F) 1 Original and 3 Copies for Masters Receipt of each one-copy document

G) 1 Original Ullage Report issued at loading Terminal.

H)   1 Original and 3 Copies of cleanliness inspection Report.

I) 1 Original and 3 Copies of Customs Clearance Certificate

J) 1 Original and 3 Copies of Cargo Manifest


K)  Sellers issue authorization letter to buyer for CIQ inspection / Dip Test.

     L) 1 Original and 3 Copies of Commercial Invoice.


21.   Buyer takes over the products 2,000,000 Barrels Bonny Light crude oil, with complete set of the cargo documents  from Nigerian National Petroleum Corporation in conjunction with the Storage Tank Farm Facility.



21.1  Payment for the full products will be made through sellers commercial invoice by Swift MT103/23 or MT103/TT to Bank Account of the Nigerian National Petroleum Corporation within Five (5) banking days after buyer pick up the product, Q&Q inspection verified by buyers inspectors agent at the Port in Rotterdam, China against presentation of the full set of the original shipping documents with the title document to the buyer.

Whatsapp: +22991022525

• Company Name: OLAGROUP SARL
• Country: BENIN

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