Wti, Jet A1, D6
Looking for serious verified buyers of our premium fuel products WTI, Jet A1, and D6. Please forward your non-binding LOI and CP for our most favorable pricing based on current market will provide SCO with current pricing and procedures. We work with only verified and vetted sellers of premium grade petroleum products, MOQ of 500000 barrels. We look forward to working with you!
Product Overview
Basra Light Crude Oil is one of Iraq's premium crude oil grades, known for its moderate API gravity and relatively high sulfur content. It is a sought-after crude oil for refineries that specialize in processing heavier grades into diesel, gasoline, jet fuel, and petrochemical feedstocks.
Key Characteristics:
Moderate API gravity (~30-31), making it a balanced crude for refining operations
Higher sulfur content (~2.87%), typically requiring desulfurization but yielding valuable middle distillates
Ideal for refining into diesel, gasoline, and jet fuel
Stable and consistent supply via Iraq's major oil terminals
Important Note: Iraq's Crude Oil Sales Process
Unlike many global markets, Iraq operates differently in crude oil sales, particularly through SOMO (State Organization for Marketing of Oil). This means:
* Only qualified buyers and refineries can engage in direct purchases.
* Strict registration, compliance, and financial verification processes are required.
* Transactions involve long-term contracts or structured agreements with SOMO.
If you are interested in securing Basra Light Crude Oil, please contact us for more. Our team will guide you through the proper procedures to ensure compliance with Iraq's regulatory framework for crude oil sales.
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**Requirements for Proceeding:**
- Buyer to issue Irrevocable Corporate Purchase Order (ICPO) along with company Certificate
- Buyer must have TSR
**Storage Information:**
- Fuel is stored at Vopak and Kinder Morgan, renowned Tier 1 Tank Storage Facilities in Rotterdam, Houston, Fujairah, Duqum, and Qatar.
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TTT Procedure for FOB Dip and Pay, Rotterdam Port (E-tank / Non-negotiable)
1. Initial Steps: The buyer issues an Irrevocable Corporate Purchase Order (ICPO), company registration certificate, data page of the buyer's passport and an Authorization to Verify (ATV) the Tank Storage Agreement with the E-Tank provider. (Proof of funds will be waived if the ATV is successful.)
2. TSA Verification, CI and DTA: The seller verifies the TSA and upon successful verification, issues the Commercial Invoice (C.I). The buyer signs and returns the CI to the seller within 48 hours. The seller will also issue a DTA ( Dip Test Authorization) to be endorsed by the buyer and buyer's tank farm.
3. Proof of Product and Injection Schedule
a. Injection Schedule: The seller releases the injection schedule to the buyer and
the buyer's tank farm company. The buyer and their tank farm must sign and
return these documents to the seller within 48 hours.
b. Proof of Product (POP) Documents: Concurrently, the seller issues the
following documents to the buyer: (a) Fresh SGS report
(b) Product Passport
(c) Injection Report
(d) Unconditional DTA
(e) Authorization to Sell and Collect (ATSC) (f) AuthorizationtoVerify(ATV)
Option A �¢?? seller injects fuel into the buyer�¢??s tank.
4. Tank Storage Receipt: The buyer�¢??s tank storage company will issue a TSR for at least 5 days. The Lessee�¢??s name will include both the Buyer and the Seller. The refinery�¢??s name will also be included.
5. Injection of product into Buyer�¢??s tanks: Upon Buyer�¢??s confirmation of the POP documents in clause 5, Seller will commence injection of product into the Buyer�¢??s tank.
6. Dip Test: The Buyer is responsible for ordering SGS to conduct a dip test of the product in the Buyer�¢??s tank at the Buyer's expense.
7. Payment and Delivery: Following a successful SGS dip test, the Buyer must make a 100% payment via MT103/TT wire transfer for the total product within forty-eight (48) hours. The Seller will pay commissions to all intermediaries involved in the transaction within forty-eight (48) banking hours after confirmation of the Buyer's payment.
