Name of COMMODITY / Product: BONNY LIGHT CRUDE OIL (BLCO)
PRODUCT DESCRIPTION: Light Crude Oil
END SELLER COMPANY: NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC) Abuja/Bony Ocean Terminal, Nigeria
ORIGIN: NIGERIA
ONLY RWA IS NEEDED TO RECEIVE FULL POP UPFRONT IN BUYER'S NAME
SHIPPING TERMS: CIF, TTO
Port of delivery: CHINA, ROTTERDAM, ASWP, GHANA, ANY SAFE PORT.
PRICE USD (CHINA, ROTTERDAM, ASWP, any safe international water): NWE Platt USD -$10-/BBL GROSS, USD -$6/BBL NET Discount or $10 less $4
PRICE USD (GHANA): NWE Platt USD -$12/BBL GROSS, USD -$8/BBL NET Discount.
OR N50/46 NET (NIGERIA TO GHANA WATERS)
PAYMENT TERMS: MT760 SBLC/MT700 DLC/MT760 BG/MT760 BLOCK FUND via SWIFT
SPECIFICATIONS: INTERNATIONAL EXPORT STANDARD
PROCEDURE NNPC BONNY LIGHT CRUDE OIL (BLCO)
1. Buyer/seller signs SPA
2. Buyer returns SPA with ATB format, seamen details & RWA
3. Seller confirms RWA & load or nominate a vessels that's already in high sea or in/near China, with the full shipping docs in buyer's name.
A. 1 Original and 3 Copies Clean Ocean Bill of Lading.
B. 1 Original and 3 Copies of Certificate of Origin issued by NNPC
C. 1 Original and 3 Copies of Certificate of Authenticity issued by NNPC
D. 1 Original and 3 Copies of Masterâ??s Receipt of Samples
E. 1 Original and 3 Copies for Masterâ??s Receipt of Documents
F. 1 Original Tanker Ullage Report issued at loading Terminal.
G. 1 Original and 3 Copies of Cargo Manifest
H. 1 Original and 3 Copies of Certificate of Quantity.
I. 1 Original and 3 Copies of Certificate of Quality
J. 1 ATS (Authority to Sell)
K. Vessel Q88
4. Buyer confirms docs in his/her name & raises MT760 SBLC/MT700 DLC/MT760 BG/MT760 BLOCK FUND via SWIFT in favor of seller
5. Seller confirms Buyerâ??s issued SWIFT
MT760 SBLC/MT700 DLC/MT760 BG/MT760 BLOCK FUND and order the loaded Vessel to move to the point of discharge for announcement.
NOTICE: Seller will instruct the Vessel's Master to send to Buyer or Buyer's agent ETA notice every twenty-four (24) hours, 48/24/12 hours prior to arrival at the port of discharge. N.O.R. (Notice of Readiness) is to be tendered only during working hours in China, i.e. between 08:00 and 16:00 hours.
PROCEDURE: CIF DELIVERY FOR TRANSACTION VIA SWIFT MT700 DLC
GROSS DISCOUNT US$10.00 per Barrel.
NET DISCOUNT TO THE BUYER US$6.00 per Barrel
THE SELLER'S FACILITATORS US$2.00 PER BARREL.
THE BUYER'S FACILITATORS US$2.00 PER BARREL.
TRIAL QUANTITY: 2 MILLION BARRELS.
1. Seller releases his signed SPA.
2. Buyer confirms the SPA and signs and seals the Contract with
banking coordinates and exchanges the signed copy by electronic mail.
The electronic and signed copy by both Parties is considered legally
binding and enforceable and must not be changed.
3. The executed SPA is lodged with their respective banks.
4. Buyer issues DLC via MT700 to Sellers Fiduciary Bank Account with
Sellers agreed Verbiage.
5. Upon receiving Buyer's DLC, Seller's Fiduciary Bank verify and
confirms the DLC.
6. Sellers Fiduciary Bank issues 2% Performance Bond.
7. Seller loads the vessel in Buyers Name and issues full POP bank to
bank basis only and NOR/ETA to buyers shipping agent.
8. Seller authorizes vessel Captain to issue MATB/DTA to Buyers
Inspectors while Buyer clears the vessel and boards Inspectors who
performs timely Q&Q/CIQ analysis/inspection at Buyers expense.
9. Immediately after successful Q&Q analysis, Vessel discharges into
buyer tank farm.
10. Seller releases loaded cargo documents in favor of the Buyer and
hard copy delivered to Buyer.
11. Buyer makes full Payment via Swift MT103 Wire Transfer for total
cargo to Sellerâ??s nominated bank account within 72 hours. Seller shall
pay all commissions to agents and facilitators the same day.
Bonny Light Crude oil is a high grade Nigeria crude oil with high API gravity ( low specific gravity) with the very low sulfur content of Bonny Light crude makes it a highly desired grade for its low corrosiveness to refinery infrastructure and the lower environmental impact of its byproducts in refinery effluent.
BS&W ( Centrifuge ) 0.2%
Sulphur content less than 0.14% Max
Reid vapour pressure 6.52 PSIG
Price of product ( USD price or FOB price) :
FOB USD 13/4, CIF USD10/4, per barrel.
Product origin :
Nigeria
Key Specifications/Special Features :
NNPC STANDARD NNPC TECHNICAL SPECIFICATIONS:
SPECIFIC GRAVITY: 0.8398
API AT 60 DEG. F: Min 34.00 5% (ASTM D-1298)
WATER CONTENT BY DISTILLATION: 0.2% (ASTM D-4006)
POUR POINT DEGREES F: BELOW 40 (ASTM D-97)
SULFUR WEIGHT %: 0.14 (ASTM D-139)
SALT CONTENT PARTS PER BILLION: 3.0 (ASTM D-526)
REID VAPOR PRESSURE (P.S.I.G.): 6.52 (ASTM D-529)
KINEMATIC VISCOSITY @ 30 DEG. C: 2.2 (ASTM D-523)
DISTILLATION INITIAL BOILING POINT (IBP): 35 DEG. C (ASTM D-86)
DISTILL TO 75 DEG. C VOL.%: 7.0
DISTILL TO 175 DEG. C VOL.%: 35.5
DISTILL TO 250 DEG. C VOL.%: 51.5
DISTILL TO 300 DEG. C VOL%: 60.5
COLOUR Dark Brown
Minimum Order Size and Packgaing details :
2 Million, 4 Million and 10 Million Barrel, Minimum 2 Million barrel Vessel per month.
I hope this email finds you well. It's a pleasure connecting with you again.
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TRANSACTION PROCEDURE FOR THE SALES AND PURCHASE OF CRUDE OIL WITH THE USE OF CRYPTOCURRENCY-(BTC) FOR CIF TO ANY SAFE WORLD PORT.
1). Seller issues a Full Corporate Offer (FCO) for the Buyer's Review and Acceptance.
2). The Buyer After Review, shall issue ICPO, Together With the Company Profile and client Information Sheet (CIS),
3). After verification of the availability of funds in the buyer's possession, the seller shall issue a Contract Agreement (SPA) to the buyer, together with the Seller's Company Profile and CIS.
4). The Buyer Countersign and return the PDF version, together with the Buyer's full details of the Receiving Port of Discharge (POD) to include full details of harbor master, shipping agency, Inspection Company, Winter/Summer Draught, discharge port OCIMF requirements and all necessary documents.
5). The Seller issues Contract Commitment Letter to supply issued by the NNPC Limited and Contract Acknowledgement Letter issued by the NNPC Limited, and provide Bitcoins (BTC) account/address or payment link to the Buyer, while the Buyer sends the Bitcoins (BTC) equivalent amount of the product to Sellers nominated Bitcoins (BTC) account.
