CRUDE OIL OFFER

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A).

COMMODITY:   Nigerian Bonny Light Crude Oil

QUANTITY:      4,000,000 (four million) Barrels

ORIGIN:   Nigerian

DELIVERY:    FOB Bonny Ocean Terminal : Port Harcourt

QUALITY:   Standard Export Quality As Per NNPC Standard

CONTRACT:  36 Months with Possibilities of Extension

PRICE :   Based on Daily Brent Platt’s

DISCOUNT: Gross Discount : USD$6.00

                                 Net Discount : USD$3.50

COMMISSION:       Seller’s side  : USD$0.50

                                 Seller’s Mandate: USD$0.50

                                 Buyer’s side: USD$1.50

PAYMENT     :   By Transferable, Divisible, Irrevocable, Revolving and Confirmed Letter of Credit issued by Twenty Five (25) Prime World Bank.

ALLOCATON

NUMBER : COSD/S.T./057 in Bulk

APPROVED BY:  PI/INS/US/2018/VOL.58/056

EXP. LICENSE:    EXP T/28/VOL.4/459

                              EXP T/72/VOL.2/368

PROCEDURES:

1.         Seller issues to the Buyer unsanitised FCO/ Draft Sales and Purchase contract.

2.         Buyer issues the seller ICPO.

3.         Acceptance.

4.         Buyer and Seller initial the sales and purchase contract.

5.         Buyer’s Bank issues a pre-advise via KTT to the Seller’s Bank for the benefit of the Seller.

Confirming reading and ability to issue an irrevocable, transferable, conformable, divisible and revolving letter of credit with a validity of 90 (ninety) days for 4 (four) million barrels of Bonny Light Crude Oil at the rate of USD$3.50 per barrel below Brent.

6.         A- Seller’s Bank issues a pre-advise via KTT to the Buyer’s  Bank for the buyer’s benefit confirming reading to issue 2% performance bond upon the receipt and confirmation of a pre-advise letter of credit from the Buyer’s Bank.

B-    Buyer’s Bank issues a pre-advise letter of credit to the   sellers Bank for the benefit of the seller.

C-    Seller’s Bank activates buyers pre-advise letter of credit with a 2% performance bond.

7.         Exactly seven (7) days after the confirmation of the buyer’s financial instrument, seller shall furnish buyer with a lay can date, delivery schedule, charter party/ vessel details.

8.         Loading commences fourteen (14) days after lay can date is issued.

9.         Delivery is done not later than 21 days after loading.

NIGERIAN BONNY LIGHT CRUDE OIL

SPECIFICATION

GRAVITY (API)                                                                        MIN 35.7

DENSITY AT 20 C DEGREES CQ-CM                                   AX 0.45

SULPHURE CONTENT WT, PCT                                            MAX 0.14

COLOUR:                                                                                  DARK BROWN

SALINITY MAX:                                                                       PTB @ 10% BS&W47

ACID NUMBER:                                                                       0.39

REID VAPOUR MAX.                                                              6.52

WATER AND SENDIMENT CONTENT (% MAX) 0.2%

IRON WT.PPM                                                                         2.00

VANADIUM WT, PPM                                                             2.00

NIKEL WT, PPM                                                                      4.00 

PCT MAX                                                                                  1.00

The actual FCO with the seller’s full contact information that contains the exact information of the above FCO is available. It would be provided upon the receipt of signed and sealed ICPO. The ICPO should contain the buyer’s bank coordinates.  It should be on the buyer’s letterhead before it is accepted.

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B)
     Product:       Nigeria Crude Oil
     Quantity:      4.000.000 barrels
     Quality:        Export Standard
     Origin:         Nigeria
     Discount:     USD $6.00 Gross
                       USD $4.00 Net
     Delivery:      FOB
     Commission: USD 1.00 Seller Agent
                      USD 1.00 Buyer Agents.
     Length of contract: 12 Months

Payment irrevocable transferable documentary letter of credit from top 50 World
-class  bank.

Inspection: SGS

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C)
     Product:       Venezuelan Crude Oil
     Quantity:      1.600.000 barrels
     Quality:        Export Standard
     Origin:         Venezuela
     Discount:     USD $3.45 Gross
                       USD $2.45 Net
     Delivery:      FOB
     Commission: USD 50.50 Seller Agent
                      USD 50.50 Buyer Agents.
     Length of contract: One spot load

Payment irrevocable transferable documentary letter of credit from top 50 World
-class  bank.

The Venezuela Crude Oil supplier will not issue FCO without BCL.  The ICPO must be submitted with BCL.  Without BCL, no FCO will be issued. Buyers, please take note and send BCL with your ICPO.

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E). PRODUCT: Bonny Light Crude Oil  (BLCO) (HAZEM)

QUANTITY:               2 million barrels per month for 12 months

QUALITY:                  As per .N.N.P.C.  specifications.

PRICE:                        Average 3 days Brent Price.

DISCOUNT:               $3.00 below Brent shared in the following structure.

                                                $2.00 net to the buyer

                                                $0.50 cents to buyer agents

                                                $0.50 cents to sellers agents

DELIVERY:                 Any safe deliver port

F). FUEL OIL CST 180 (HAZEM)

SPECIFICATIONS:    Density 15 deg. C                                          0.991 max     D-1298

                                    Pour Point, deg. C                                         24 max          D-97

                                    Flash Point, Deg. C                                       66 min           D-93

                                    Kinetic Viscosity 50 Deg                               180 cst          D-445

                                    Sulphur % by wt                                            1.5 max         D-4294

                                    Sediment % wt                                              0.15 max       D-473

                                    Ash %wt                                                       0.1 max         D-482

                                    Water content % vol                                      0.05 max       D-95

                                    Gross calorific value kcal/kg                           9.940 min      D-4809

                                    Carbon residue – micro % wt                        16 max          D-4530

                                    Vanadium, ppm                                             150 max        D-5863

                                    Aluminium, ppm                                             50 max.         D-5863

QUANTITY:               50,000 metric tons per month

PERIOD:                     12 Months

DELIVERY:                 CIF any safe Asian port

PRICE:                        Based on MPOS (Means of Platt Singapore) Minus Discount

DISCOUNT:               Net USD 5.00 (FIVE)

ORIGIN:                      Russian/CIS countries

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G). Gasoline. (HASITA)

Products:  92, 95 & 98 Ron unlead Gasoline (petrol)

Origin: Russia / CIS / Romania

Quantity: 50,000mt /month

Contract period: 12 months

Delivery: CIF  

Price : The price shall be determined by the average of the three days around the B/L date (The day before, the day of Bill of Lading and the day after). Rates to be referred to the average quotation as reported by PLATT'S McGraw Hill Market wire publication with the heading " Gasoline Ron 92,95,98 Med Platt's Genova / Lavera Cargoes CIF ASWP".

H).  JET FUEL -  UNITED STATES ORIGIN

Our United States Jet Fuel supplier is capable of supplying any quantity of Jet Fuel. Since his company is located in the United States, he is restricted to supply Jet Fuel to certain countries. Before he accept LOI or ICPO, the buyer must provide the below listed information on his letterhead for his approval. 

The information is as follows:

1. The country of delivery and the specific port of delivery.
2. The final destination. The final destination cannot be on any of the US, Canada, and United Kingdom (UK) restricted trading lists.
3. The quantity of jet fuel the buyer wants.
4. The buyer’s terms.
5. The profile of the buyer or his company
6. The buyer’s bank coordinates

If our United States Jet Fuel supplier is satisfied with the information that the buyer will provide, he will request for the LOI or ICPO.

If you want Jet Fuel, provide the above information that our United States Jet Fuel supplier requested..  We will send it to him for his approval.  After he approves, we will request you to issue LOI or ICPO for the quantity of Jet fuel that you want.

I).  COMMODITY: Saudi Arabia Light Crude Oil  (ABDURAHMAN)

J)                                       FULL CORPORATE OFFER (JAMES)

We, hereby confirm with full corporate and legal authority and responsibility, that we are ready, willing and able to enter in a contractual agreement with the buyer for the quantity of 100,000 metric tons per month for one (1) year of the Russian Liquefied Petroleum Gas (LPG) with extension and as per the terms and conditions:

PRODUCT:                                   LPG (Refrigerated Liquefied Petroleum Gas)

                                                      Propane C3 Butane (4) Mixture 50/50

ORIGIN:                                        Russia/CIS

SPECIICATIONS:                        As per attached specifications

QUANTITY:                                 100,000 metric tons per month for one year with option to

                                                      Extend up to 5  years.  Partial shipment is allowed at

                                                Minimum of 20,000 metric tons per shipment or as per

                                                Advice by the buyer.

PRICE:                                    USD 264.00 per metric ton fixed.

COMMISSION:                      USD 4.00 split 50/50.

DELIVERY:                             CIF CHINA

VESSEL:                                 LPG Carrier

PAYMENT TERMS:               Confirmed, irrevocable, Divisible, Transferable, Monthly

                                                Revolving Letter of Credit at sight.

BOND:                                    Seller will provide 2% PB.

We hereby confirm with full legal and corporate responsibility that we are indeed a real seller for the said commodity.

SIGNED BY SELLER.

SPECICFICAITONS – LPG (LIQUIFIED PETROLEUM GASES)

ITEM:                                             GUARANTEE                             METHOD

                  Composition

                  C3% mal-50.0                         Heavier than C% mal             ASTM D2163

                  C4% MAL-50.0

SPECICFICAITONS – LPG (LIQUIFIED PETROLEUM GASES) (continued)

ITEM:                                             GUARANTEE                             METHOD

A               Corrosion

B                Copper (1h@37.8 deg. C)      No 1 max                              ASTM D1838

C               Free Water                               Nil                                         Visual

D               Density

                  @ 15 deg C kg/1                     To report

E                Mercaptan

                  Methy1, ppm                            To report                               Gas detecting tube

F                Odor                                        Distinctive

G               Specific Gravity

                  @ 15.6/15.6 deg C                  To report                               ASTM D2598

H               Sulfur

                  G/m3                                        0.34 max                               ASTM D3246

I                 Vapour Pressure

                  @37.8 deg C Kpa                   480-827                                ASTM D2598

J                 Weathering

                  Deg C                                      2.0 max                                 ASTM D 1837

K               Odorant

                  Type active

                  Concentration, mg/1                 To be report                          12.0 max   

K). RUSSIN D2 LO.2/62 GOST 305-82

Quantity  :  6 million MT per year
Monthly Delivery  :  500,000 MT +/- 5%
Price               : Three days average i.e. one day before B/L issued

CIF ASWP
Discount :  Gross US$ 11.00 per MT
                 US$ 8.00 per MT (to buyer)
                 US$ 1.00 per MT (US$ 0.50 for seller's closed)

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L). REBCO

Commodity: REBCO Russian Export Blend Crude Oil

Origin: RUSSIA, or C.I.S countries

Specification: Standard export quality

Quantity: Up to 22.000.000 Barrels within one  year contract = up to  250.000 MT per month (Also in separate contracts up (50.000 MT -  70.000 MT) per  month)

Contract Period 36 month with possible roll over and extensions

Delivery: FOB – Baltic or Black Sea  Port 

Price Basic: Average of 3 day scan FOB URALS ARA/MED PLATT's  quotation

Discount: Gross USD$ 2.80 per Barrel, Net USD$ 2.30 per Barrel to Buyer.

Commission .USD 0.50 (Fifty Cents Only) per net barrel. Payable from Buyer's account. Commission to be split  between Seller and Buyer Side in accordance to MFPA.

PAYMENT By Documentary LC Confirmed by a World Prime Bank, to cover one month delivery with revolving clause and shipment over shipment, payment each shipment by SWIFT transfer max in 7 days after date the shipping documents be presented at Buyer's Bank counter.

P - Bond 2%  of monthly value of DLC, revolving  Performance  Bond  issued  by Seller’s Bank in favor to  Buyer

M) MAZUT 100 (SULPHUR LESS 2%

Commodity: Mazut 100  (Sulphur less 2 %).

Origin: RUSSIA, or C.I.S countries

Specification: Standard export quality

Quantity: Up to 300,000 MT per month within one  year contract.

Contract Period12 month with possible roll over and extentions

Delivery: FOB – Baltic or Black Sea  Port 

Price Basic: Average of 3 day scan FOB URALS ARA/MED  PLATT's  quotations

Discount: Gross USD$ 10,00 per MT, Net USD$ 8,00 per MT to Buyer.

 Commission: .USD 2,00(Two US dollars) per MT. Payable from Buyer's account. Commission to be split   between Seller and Buyer Side in accordance to MFPA.

PAYMENT By Documentary LC Confirmed by a World Prime Bank, to cover one month delivery with revolving clause and shipment over shipment, payment each shipment by SWIFT transfer max in 7 days after date the shipping documents be presented at Buyer's Bank counter.

P - Bond 2%  of monthly value of DLC, revolving  Performance  Bond  issued  by Seller’s Bank in favor to  Buyer

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O) JET FUEL RUSSIAN ORIGIN

COMMODITY: JET FUEL COLONIAL JP 54
ORIGIN: RUSSIA
TOTAL QUANTITY: 360,000,000 +/-5% BARRELS
TERM: 13 TO 60 MONTHS
PRICE: PLATT'S MED, EUROPEAN MARKETCAN PUBLISHED BY PLATT'S MCGRAW HILL WITH THE HEADING MED (ITALY) AGAINST "JET AVIATION FUEL", BASED ON 5 (FIVE) DAYS AVERAGE AROUND THE DATE OF BILL OF LADING
DISCOUNT: GROSS: $0.040, NET US$0.035 PER GALLON
COMMISSION: US$0.005 PER DELIVERED GALLON, SPLIT AS FOLLOWS:
US$0.0025/GALLON TO THE SELLER'S SIDE (CLOSED)
US$0.0025/GALLON TO THE BUYER'S SIDE
DELIVERY: CIF ASWP BUYER'S DESIGNATED DISCHARGED PORT, INSIDE CUSTOMS, OUTTURN BARRELS
PAYMENT: IRREVOCABLE, TRANSFERABLE, DIVISIBLE, REVOLVING DOCUMENTARY LETTERS OF CREDIT (DLC) PAYABLE AT SIGHT FOR ONE MONTH'S SHIPMENT AND SHALL BE AUTOMATICALLY REVOLVING TO THE NEXT MONTHLY SHIPMENT UNTIL COMPLEITON OF THE CONTRACTED

QUANTITY. DLC TO BE ISSUED BY THE TOP 25 PRIME BANKS.
GUARANTEE: 2% PERFORMANCE BOND IN FAVOR OF THE BUYER
PROCEDURE:
1. SELLER ISSUES THE FCO.
2. BUYER SIGNS/SEALS AND RETURNS FCO WITH ICPO WILL FULL BANKING DETAILS.
3. SELLER ISSUES THE SOFT COPY OF THE CONTRACT.
4. BUYER AMENDS AND RETURNS TO SELLER SIGNED AND SEALED.
5. HARD COPIES (6) OF THE CONTRACT SIGNED AND EXCHANGED.
6. THE BUYER'S BANK WILL ISSUE A PRE-ADVISED LC TO SELLER'S BANK.
7. SELLER'S BANK ISSUES NON-OPERATIVE LC TO SELLER'S BANK.
8. THE BUYER WILL OPEN AN IRREVOCABLE, CONFIRMED, TRANSFERABLE, DIVISIBLE DOCUMENTARY LETTER OF CREDIT ISSUED BY A WORLD
CLASS BANK IN FAVOR OF THE SELLER, WHICH ACTIVATES 2% P.B.
9. THE FIRST LOADING AS PER SHIPPING SCHEDULE AGREED IN THE CONTRACT.

PROCEDURES TO FOLLOW

1 – Buyer/ Buyer's Mandate Issue ICPO
2 - NCNDA and MFPA Issued by buyer and Signed by parties involved in the  Contract.
3 - Seller Issues Sales draft Contract for buyer's review.
4 - Buyer signs and Seals sales Contract.
5 - Seller and buyer Banks Confirm Product against Funds by K.T.T.
6 - Seller Issues non Operative Performance Bond.
7 - Buyer Issues Letter of Credit, which activate the Seller's Performance
Bond.
8 - Shipment Commences Per Signed Contract.

LOI/ICPO SHOULD CONTAIN:

-THE BUYER COMPLETE CONTACT INFORMATION

-BUYER’SBANKING COORDINATES

-LEGAL OFFICERS NAMES

-PORTS OF DISCHARGE

-DISCHARGE RATE AT PORT OF DELIVERY

-STORAGE CAPACITY

-THE ICPO/LOI SHOULD BE ON THE BUYER’S LETTERHEAD. IT SHOULD BE SIGNED AND SEALED.

-THE ICPO SHOULD NOT BE LESS THAN 5 (FIVE) DAYS OLD. ICPOS THAT ARE MORE THAN 5 (FIVE) DAYS OLD WOULD BE REJECTED.

-BCL IS REQUIRED BEFORE FCO IS ISSUED.

Other terms and conditions would be provided on the FCO and in the Sales Contract.

PLEASE TAKE NOTE OF THE FOLLOWING:

The above information was provided to us by our petroleum products suppliers.  It is subject to change without notice.  The quantities of petroleum products indicated above could change without notice. Some of them are subject to availability.

We cannot change any of the information stated above. We compiled the information as it was presented to us by our suppliers.  The suppliers are to change the information. They will make

amendments if necessary, in the FCO and in the sales contract.  Therefore, customers should state the conditions they want in the ICPO. 

Please take note of the expiration dates for some of the offers.  If you are interested in any of the  products, please issue  ICPO before the expiration dates.

To order, please submit ICPO/LOI.  The content of the ICPO/LOI should be based on the ICPO/LOI requirements stated above. The ICPO should be on the buyer’s letterhead.  It should be signed and sealed.  The buyer’s bank coordinates should be included in the ICPO.  The ICPO should be less than five days old before it is accepted. Buyer should mention in the ICPO/LOI other conditions or requirements that they want the supplier to follow.  The supplier will approve  the conditions and requirements after he receives the ICPO/LOI. BCL is required for all order sales contract is issued.