Product Description

PRODUCT:The Nigerian Light Crude Oil of International Standard Export Grade is sold by the Nigerian National Petroleum Company( NNPC ).

QUANTITY: 2million barrels with possible rollovers per month.

DELIVERY:1. (CIF)- NNPC undertakes the CIF and shipment direct to buyer's destination. The supply of the  Crude Oil is from  a guaranteed stock of NNPC quarterly Allocation.
All procedures are strickly NNPC without any change. The buyer is to get the SPA signed and comply with procedures as contained in the SPA and other documents.

DELIVERY: 2.( TTO) - Also available: NNPC appointed Agent can also sell crude oil on  TTO Basis.
The seller new approach in offering Bonny Light Crude Oil on TTO with good discount is aimed at securing buyer and seller. Buyer will write aletter of intent to declare that they are ready, willing and able to carry out the transaction to a profitable close. They will therefore request for the following:
a. Sales and Purchase Contract
b. Confirmable proof of product.

1.Buyer and Seller 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 confirms the POP (BULK ALLOCATION DETAILS) as shown on the first page of the contract and returns the signed contract with PROOF OF FUNDS (POF).The format for the POF is shown below transmitted by swift MT***9.
3. Seller, upon receipt of POF from buyer's bank, within (3) bankingdays,issues PROVISIONAL LIFTING RIGHT. The Lifting Right will include the Quantity to be lifted,the cargo Authority Number, StemNumber, Window Number(ETA), Name of Nominated Vessel, IMO Number of Nominated Vessel for one way voyage charter to Buyer's port of destination.
4. Buyer upon receipt and confirmation of paragraph 3 within (3) banking days, issues confimed, irrevocable, transferable and operative Letter of Credit for two million barrels in favour of Seller and validity to cover *5 banking days. The LC must come from top US/ EuropeanBank.
5. Within seven (7) banking days of 4 above, Seller furnishes CPA & Q*8 and the required documents to Buyer and/or Buyer's bank.
6. After the vessel has discharged its cargo at buyer's designated port outlined above and Buyer has received the Discharge Report as shall be confirmed by the captain of the vessel, including all relevant documents presented by the Seller after the time of cargo delivery as required by the LC,Buyer must make payment by KTT Wire Transfer to Seller's Bank Account payable at it's counter for this transaction and to beneficiaries named in the Master Fee Protectin Agreement in the contract for fees.
7.Payments are made by Swift Wire Transfer directly to the Seller's bank account and commission agents as stipulated in the MFPA in this contract within three (3) international banking days after product delivery and discharge at Buyer's nominated port of discharge against presentation of stated shipping documents (non-negotiable copies) at Buyer's bank.
8. The signatures on this contract by the Buyer and the Seller means both accept all the content as for Quality,Discount and Procedures.

PLEASE NOTE THAT THSE DETAILS ARE MEANT FOR DIRECT BUYER OR DIRECT MANDATE ONLY. NO BROKERS AND ABSOLUTELY DONT WANT DAISY CHAINS AND TIME WASTING NON-PERFORMERS.