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Details - Information last confirmed on April 20, 2021

NNPC standard and export grades of Bonny Light Nigerian Crude Oil. Direct Seller, Tanker Take-Over (TTO) LOME WATERS available simultaneously from International Oil Company (ICO) Ship to Ship Transfer into the Seller’s charter vessel. Revolving 2 million BBL’s utilizing Very Large Crude Carriers (VLCC).

PROCEDURES:

PROCEDURE – TTO LOME WATERS
Transaction procedures for BLCO two million (2,000,000) barrels per week or more until a total of eight million (8,000,000) barrels a month have been delivered – Lome Waters (only) with possibility of rollovers, increases & extensions:
1. Buyer signs and returns the agreement with CIS, passport, corporate registration, ICPO, full banking details and proof of financial capability and Seller signs the agreement.
2. Seller provides notification of readiness (NOR) from an international oil company (IOC) to deliver product to the receiving charter vessel that is in Sellers name with an international verifiable IOC transaction code in the Sellers name that can be verified bank to bank, and Buyer issues a bank instrument for 115% of one month value of the cargo.
3. Seller’s and Buyer’s representative(s) shall be on hand at TTO site at time or in advance of cargo arrival to the TTO site. Buyer takes Buyer’s supercargo onboard along with SGS or agreed verification team to verify the full product cargo documents and cargo on the loaded vessel at Buyers expense and on upon receipt of attestation, within 24 hours of confirmation of product, Q and Q and report issued to both parties.
4. Supercargo remain onboard, Seller then sends commercial invoice and soft copies of product cargo documents issued in Buyer’s name to Buyer’s bank and buyer authorizes Buyer’s bank to issue MT103 in favor of Seller.
5. Buyer’s bank makes payment for the entire cargo as per Seller’s invoice within 24 hours upon receipt and confirmation of product cargo documents. Buyer’s bank makes final payment for the entire cargo + associated commissions/expenses.
6. Product cargo documents provided by Seller must include the Bill of Lading, marked Freight Prepaid, cargo manifest, ATS, and Warranty of Title as defined in the contract.
7. After receipt of Buyer’s bank instrument but prior to final payment, the Seller shall introduce Buyer to the registered commercial operator to enable Buyer to re-charter the vessel and takeover cargo for vessel to set sail to its final port of discharge.

TECHNICAL SPECIFICATIONS

QUALITY AND GRADE: The quality of this product shall be regular NNPC standard and export grades of Bonny Light Crude Oil, Nigeria origin.

An independent inspection company such as SGS, or any similar agreed to in advance by the Parties shall conduct the verification as to quantity and quality at the at Buyer’s expense.

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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.