The SELLER and the BUYER, under corporate authority and responsibility respectively represent that the SELLER is the lawful owner of the commodity, in quantity and quality as hereunder specified, and the BUYER has the full capability to purchase the said commodity.
The BUYER desires to purchase Crude Oil (hereinafter called product) of Nigeria Origin.
The Nigerian National Petroleum Corporation (THE SELLER) has sold and the BUYER has bought on Cost Insurance and Freight (CIF) basis to Any Europe or Caribbean Port, the total quantity of 6,000,000.00 BBLS (six million barrels)per month in shipments of 2,000,000 BBLS on a Spot after Spot Contract basis for 12 months.
PROCEDURES FOR CIF / PAYMENT INSTRUMENT:
NOMINATIONS, SHIPMENT & PROCEDURES
I. SELLER SIGN AND SEAL THIS CONTRACT AND RETURN BACK TO SELLER ELECTRONICALLY. THE SIGNED CONTRACT COPY BY BOTH PARTIES IS CONSIDERED LEGALLY BINDING AND ENFORCEABLE.
II. BUYER SEND STORAGE FACILITY/NOR FORMAT, CLIENT INFORMATION SHEET, PASSPORT COPY AND CERTIFICATE OF BUSINESS REGISTRATION TO SELLER.
III. SELLER CONDUCT DUE DILIGENCE ON THE BUYER THROUGH COMMUNICATION WITH ACCOUNT OFFICER BY PHONE AND EMAIL OR BUYER SWIFT CONFIRMED BANK RWA TO SELLER (SEE ATTACHED FORMAT)
IV. NNPC/SELLER IF SATISTIED WITH THE FINDING WILL PROCESS AND ISSUE COMPLETE CARGO DOCUMENTS AVAILABLE IN CHINA OR ON THE WAY TO CHINA.
BUYER BANK ISSUES CONFIRMED, IRREVOCABLE, UNCONDITIONAL, DIVISIBLE, TRANSFERABLE, CASH BACK MT760/SBLC BY SWIFT IN FAVOR OF THE SELLER, WITHIN 72 HRS, ACCORDING TO SELLERS BANK VERBIAGE OR MT 799 BLOCKED FUNDS SELLER BANK CONFIRMS THE INSTRUMENT AND RESPOND TO BUYERâ??S BANK.
THOUGH NNPC DOES NOT ACCEPT MT700(DLC),WE NOW HAVE SPECIAL ARRANGEMENT TO ACCEPT MT700(DLC) FROM OUR BUYERS AND ON OUR OWN ISSUE NNPC DESIRABLE TO THEM BUT ALL THE INSTRUMENT S INCLUDING THE DLC MUST COME FROM PRIME BANK
V. AFTER CONFIRMING THE INSTRUMENT ,SELLER PAYS FOR THE NOR/ATB TO BE ISSUED FROM VESSEL OR ISSUES SHIPMENT SCHEDULE FOR FIRST MONTH DELIVERY OF 2M BARRELS SHIPMENT.NEXT SHIPMENT SCHEDULE COMES BEFORE PAYMENT OF LAST DELIVERY
VI. NOTE THAT IF THE BUYER WANTS TO BOARD BEFORE ISSUING INSTRUMENT HE HAS TO TAKE CARE OF THE LOGISTICS AND NOR/ATB
VII. NNPC/SELLER ISSUES CONFIRMATION LETTER ON RECEIPT OF INSTRUMENT TO BUYER.
VIII. SELLER ENSURES THAT THE CARGO IS DOCUMENTED, REGISTERED AND OBTAIN CERTIFICATE OF OWNERSHIP/TITLE OF WARRANTY
IX. VESSEL SAILS TO BUYERâ??S STORAGE LOCATION FOR DISCHARGE
X. BUYER CONDUCTS INSPECTION ON VESSEL UPON ARRIVAL AND GET CIQ REPORT.
XI. WITHIN 72 HOURS AFTER DISCHARGE OF CRUDE OIL AT BUYERâ??S PORT OF DESTINATION/STORAGE, THE BUYER PAYS FOR THE CRUDE OIL AS PER THE FINAL CIQ REPORT ISSUED BY INDEPENDENT INSPECTOR AT THE PORT OF DISCHARGE.
1. Seller and Buyer sign and seal this contract including banking coordinates and exchange the signed copy by electronic mail. The electronic signed copy by both parties is considered legally binding and enforceable.
2. Buyer returns the signed copy with the ATB format (supercargo/inspector full boarding details).
3. Sellerâ??s vessel captain issues Marine ATB from his vessel domain according to buyerâ??s format via e-mail to buyer
4. Buyer issues Notarised/Confirmed Corporate Cheque of N200million which is cashable upon receipt of Attestation
5. Seller issues navy clearance through NNPC.
6. Upon both receipt and confirmation of ATB and Clearance by Buyer, Seller positions the vessel for Quantity and Quality analysis/test (QnQ).
7. Buyerâ??s Supercargo (must be NNPC registered) and a second Buyerâ??s Representative designatedsupercargo/Inspector go on board the sellerâ??s loaded vessel. If Buyerâ??s Supercargo/s is not NNPC Registered, Seller will pay the fees necessary to obtain temporary accreditation for the supercargo, on behalf of the Buyer.
8. Buyerâ??s supercargo confirms product and the vessel captain sends a confirmation/Attestation letter endorsed by the supercargo.
9. Upon receipt of Attestation, Buyer promptly wires N200,000,000.00 into Sellerâ??s Account
10. The Buyers Representative designated as supercargo/inspector, takes samples (total of 4 to 7 litres or as the Captain may allow), and disembarks from the vessel while the first supercargo remains on board until the completion of the TTO transaction.
11. Samples are sent to the laboratory (SGS OR INTERTEK) and Q&Q Report generated and sent to both Buyer and seller. Buyer issues a BG for total cargo, assuming a total volume of 2 million barrels.
12. Seller confirms the BG for total cargo.
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13. Final Q n Q Report is generated
14. Seller sends final commercial invoice (CI) to Buyer based on quantity of cargo.
15. Seller issues the full list of original copies of cargo documents** in the name of the off-taker nominated by the buyer.
16. Upon receipt of the cargo documents, Buyer makes payment for total cargo via MT103 less the N200,000,000 ($600,000).
17. Seller arranges for Buyer to talk to shipping company and take over vessel via charter party agreement.
18. Seller confirms payment for cargo made by swift via MT103 and pays commissions to all mandates & agents. Cost of payment transfer is borne by each individual/entity or Corporation
19. Buyer takes over vessel and sails to destination.
01. Specific Gravity at 60* F/15.55? C: 0.8397 - 0.8498
02. API Specific Gravity at 60* F/15.55? C: 37.0
03. Density at 60* F/15.55? C - Cg - C M - MAC 0.85 max
04. Pour Point 40* F / 4.44* C
05. Sulfur Content, % Wt. 0.14 max
06. Colour Dark Brown
07. Salinity TB at 0.10% BS&W 47 max
08. Acid Number 0.39 max
09. Reid Vapour Pressure 6.52 psig max
10. Water Content, Pct.(%) 0.50 max
11. Sediment Content, Pct.(%) 0.50 max
12. Iron Wt. Ppm 1.00 max
13. Nickel Wt. Ppm 4.00 max
14. Vanadium Wt. Ppm 2.00 max.
Bonny light crude oil is available from nnpc terminal on FOB/CIF/TT,we work with direct vessel loading terminal and we can offer with good price and good procedure.Contact us for more information.
We sell genuine and real crude oil direct from nigerian government & nnpc payments terms through l/c and we can supply up to 60 million barrels annual.( no upfront payment is required)don't miss to do business with us.
Base oils are important basic raw materials for any lubricants included engine oils, gear oils, industrial oils, metal working fluids, hydraulic fluids and also greases. In most of the lubricants 70-90% ingredient is base oils. As per API classification Base oils can be grouped majorly into five groups, i.e., Group-I/II/III/IV/V. The base oil characteristics are very important in determining the quality of the finished product. Group I base oils are solvent-refined, which is a simpler refining process. This is why they are the cheapest base oils on the market.
Base oil SN 150 is known as a light grade base oil at the lower end of the specifications for Grade I light base oils. It is mostly used in lubricant and lubricant additives production. It is a Group I base oil which has undergone solvent refining processes. To finish the refining it was hydrogen treated to clear out any impurities.
Applications :
Base oil SN 150 works as a base stock for several industrial lubricants.
General purpose oils
Mould oil
Transmission fluids
Gear oils
Metal working fluids
Additives
Hydraulic oils
Transformer oils
Base Oil SN 500 is defined as a light grade base oil at the upper end of the specifications for Grade I base oils. It is mostly used in lubricant production. It is a Group I base oil which has undergone solvent refining processes. To finish the refining it was hydrogen treated to clear out any impurities.
Applications :
Base Oil SN 500 works as a base stock for several industrial lubricants
Engine oils
Transmission fluids
Gear oils
Metal working fluids
Greases
Hydraulic oils
Transformer oils
Base Oil SN 350 is a medium stock base oil produced from the vacuum distillates and residual components using the traditional refining methods. It has viscosity 8-9,5 cSt at 100C and 67-70 cSt at 40C. SN 350 is used in lubricant and lubricant additives production, mainly for industrial applications. The main benefits of SN 350 base oils are low sulphur content, high viscosity index, high oxidation stability and good susceptibility to the additives.
Light-Heavy Crude Oil, from Arab Gulf non sanctioned origin, best realistic economic conditions, safest workable procedures, transparent annul contracts, 12 monthly deliveries, transaction executed bank to bank through our Primary Banks, , delivery on STO & CIF ASWP,, zero upfront payment
Light-Heavy Crude Oil, from Arab Gulf non sanctioned origin, best realistic economic conditions, safest workable procedures, transparent annul contracts, 12 monthly deliveries, transaction executed bank to bank through our Primary Banks, , delivery on STO & CIF ASWP,, zero upfront payment.
Light-Heavy Crude Oil, from Arab Gulf non sanctioned origin, best realistic economic conditions, safest workable procedures, transparent annul contracts, 12 monthly deliveries, transaction executed bank to bank through our Primary Banks, delivery on STO & CIF ASWP,, zero upfront payment.
Rajma white is superior to the regular rajma and very soft feel and more delicate flavour. These are white in colour. Pulses are low in fat and cholesterol, high in dietary fibre and rich in protein.
For price, specifications and other details please contact us.
CTO offers an alternative to petroleum- and vegetable-based oils, adding value in products such as detergents and soaps, adhesives, lubricants, paints and coatings, biofuels and much more.
