PRODUCT: LIGHT CRUDE OIL IRAQI ( SOMO ) API 33.45 ORIGIN: IRAQI QUANTITY: 2,000,000 BBLS TO 6,000,000 BBLS (+/- 5%) SPOT SPECIFICATION: Standard Export Quality Specification ATTACHED DELIVERY/DISCHARGE PORT FOB UAE OR CIF ROTTERDAM / CIF ASWP MAINLAND CHINA TERMS OF PAYMENT: A) 100% PAYMENT Against Fresh SGS Report of the Oil and via MT103/TT at the Load Port for all FOB Sales B) 100% Payment against Fresh SGS Report of the Oil and via MT103/TT at Buyer Disport and guaranteed by a Buyer BG/SBLC for all CIF Sales PRICE & COMMISSIONS: A) FOR FOB SALES - DATED BRENT ON A 3DAY AVERAGE ON DATE OF THE SGS REPORT LESS (MINUS) A DISCOUNT OF USD $5.00/- NET TO THE BUYER B) FOR CIF SALES - DATED BRENT ON A 3DAY AVERAGE ON DATE OF THE SGS REPORT LESS (MINUS) A DISCOUNT OF USD$3.00- NET TO THE BUYER COMMISSIONS: USD $1 - PER BBL PAID BY THE SELLER TO ALL INTERMEDIATES.