Sellers Published date: May 31, 2014

OUR OFFER
Non-negotiable particulars for purchase of the following:
Product: Bonnie Light Crude Oil FOB
Origin: Nigeria through a JV with NNPC & Shell
Quantity: 2M Bbl lots monthly and multiples thereof
Term: 12 months w/R&Es
Port of origin: Bonny Terminal
Price: Brent Platts less Gross $11 / Net $9 per barrel
Commissions: $1 per Bbl Sell side closed / $1 per Bbl Buy side open
Please Note: the procedures are not negotiable as they are set by the NNPC not the seller.

Required to Proceed: Specification, Quantity, Frequency of pick-up

NB: Procedures are not negotiable – Please Do Not Ask.
1) Buyer and Seller sign the Sales / Purchase Contract Agreement with banking coordinates and deposit signed SPA at their respective banks. The electronic signed SPA is legally binding upon all parties involved.

2) Seller sends Buyer ATS for Bulk Allocation to be verified by NNPC Bonny Terminal.

3) Buyer charters Vessel and sends following documents to the Seller: CPA, Payment receipt to the CPA, Q88 and ATL.

4) Seller instructs Bonny Terminal to issue NOR / LAYCAN to Buyer’s Vessel which shall reply / confirm with an ETA within 12 hours.

5) BUYER sends their ATB format with supercargo and inspector details including passport and contact details to SELLER and Buyer’s Bank issue to Seller’s Bank an SBLC / BG / IDLC as approved verbiage at Appendix B in favor of Seller for the value of the full month cargo to be activated by Seller Bank’s 2% PB.

6) Upon arrival of the Buyer’s Vessel, Seller loads the vessel with full vessel document issued under Buyer's name.

7) ATB issued to the BUYER’s inspector and supercargo. Q&Q is conducted by Buyer’s Inspectors of which costs are paid by Buyer.

8) Upon a satisfactory Q&Q report, Buyer effects full Payment by MT103, receives all Cargo documents incl. Title and sails with the Vessel to his POD. Procedure starts at (3) for the next vessel immediately with Buyer Bank’s IRDLC for the rest of the Contract to be activated by Seller Bank’s 2% PB, unless otherwise agreed by the Parties, Seller and Buyer.



SPECIFICATION Conforms to Official NNPC Specification:
a) Specific Gravity @600 deg.F: 0.8398-0.8498
b) API Gravity @600 deg.F: 35.0 - 37.0
c) Water content by Distillation: 1% (VOLUME) max
d) BS&W (CENTRIFUGE): 0.06 - 0.2% Vol
e) Upper Pour Point: Below 400 deg. F
f) Sulphur Content: Less than 0.14% (Volume)
g) Reid Vapor Pressure: 6.52 Psig max
h) Salt Content (PTB): 3.16 max
i) Colour: Dark Brown
j) Acid number: 0.39 max
k) Iron wt, ppm: 1.00 max
1) Vanadium wt, ppm: 2.00 max
m) Nickel wt, ppm: 4.00 max
n) Salinity: P.T.B. at 0.10% bs& w 47 max

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• Publisher: Kendall Strysick
• Company Name: Grupo Tierra Verde
• Country: USA/Canada/Central America/Australia

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