Sellers Published date: October 13, 2020

BLCO OFF-SHORE/ON-SHORE QINDAO TANK FARM, CHINA
• Product Name: Bonny Light Crude Oil (BLCO)
• Origin: Nigeria
• Quantity: First Spot delivery of two (2) million Bbls in Seller’s tank farm delivery Qingdao, China.
• Contract Quantity: After successful delivery of the first Spot delivery of two (2) million Bbls, the Parties have the option to agree to roll into a term contract for four to XX million barrels per month for 12 months with rolls & extensions on a mutually agreed basis tank farm delivery basis in Qingdao port, China.
• Quality: Based on the NNPC BLCO Export Grade Specification.
• Price: $12/7
• Commission: $2 to Buyer
$2 to Seller sides respectively.
$1 for Seller Transaction Handlers/Consultants
• Loading Port: On-shore/Off-shore Qingdao, China.
• Inspection: To be performed by CCIC, CIQ, or equivalent at the discharge port. This CCIC or CIQ report will serve as a basis to be used to determine the invoiced Quantity and Quality (Q&Q) of the final product.
• Payment Terms: Buyer’s bank will execute the payment via MT103/TT.
• Product Specification (Nigerian light crude oil):
 Specific gravity - 0.8398
 Api - 33 - 37.00
 B.S.W - 0.6% Vol
 Water content - 0.2% Vol
 Pour point below - 40 0F
 Reid vapour pressure - 6.52 sig
 Sulphur content % WT - 0.14

TANK FARM PROCEDURE:
1. SELLER FORWARDS A DRAFT SPA TO BUYER. (Note: After payment, the product will be transferred from Offshore Tank Farm to BUYER`S ONSHORE TANK FARM by NNPC SHUTTLING VESSEL.)

2. BUYER FILLS AND SIGNS THE SPA, RETURNS TO SELLER WITH VALID RELEVANT DOCUMENT SUCH AS COMPANY PROFILE, CIS, COMPANY INCORPORATION/REGISTERED DOCUMENTS, ATB FORMULA SUPER CARGO DETAILS, ETC... SIGNED SPA IS VALID AND ENFORCEABLE.

3. SELLER ISSUES THE TANK FARM RECEIPT AND DETAILS OF THE PRODUCT AS POP FOR VERIFICATION:
a. Discharge Certificate
b. Storage Certificate
c. Storage Information
d. Tank Storage Receipt
e. Proforma Invoice

4. BUYER VERIFIES THE POP PHYSICALLY THROUGH THE TANK FARM MANAGER DETAILS PROVIDED TO HIM BY SELLER.

5. AFTER SUCCESSFUL PHYSICAL VERIFICATION OF TANK FARM POP, BUYER’S BANK ISSUES MT103/72 OR DLC IN FAVOR OF NNPC INTO THE NNPC’S DIRECT ACCOUNT DETAILED IN THE SPA TO SECURE CARGO WITHIN FIVE WORKING DAYS AND COPY NNPC/SELLER FOR CONFIRMATION.

6. SELLER CONFIRMS RECEIPT OF MT103/72 OR DLC AND ISSUE DTA (DIP TEST AUTHORIZATION) LETTER, AS WELL AS REGISTERS W.O.T (WARRANTY OF TITLE) CERTIFICATE IN BUYER’S NAME, TANK FARM MANAGER’S/NNPC ASIAN CONSULTANT WILL BE COPIED.

7. BUYER IS GIVEN ACCESS TO CARRY OUT CIQ ON THE PRODUCT IN THE TANK FARM. WITH POSITIVE OUTCOME, BUYER ISSUES MT103 COVERING THE ENTIRE QUANTITY OF SIX MILLION BARRELS ON BONNY LIGHT CRUDE OIL (BLCO) OF NIGERIAN ORIGIN.

8. NNPC CONFIRMS PAYMENT AND INSTRUCTS BUYER TO PUMP HIS CARGO OF 6M BARRELS FROM OUR QINGDAO TANK FARM STORAGE, CHINA, AND HAND OVER THE ORIGINAL EXPORT AND VESSEL DOCUMENTS TO THE BUYER.

9. BUYER PAYS COMMISSION TO SELLER AGENTS, FACILITATORS, AND BUYER AGENTS/FACILITATORS SELLER.

10. NNPC CONFIRMS PAYMENT; HAND OVER THE ORIGINAL EXPORT AND VESSEL DOCUMENTS TO THE BUYER AND NNPC SHIPPING AGENT IN CHINA HANDLES THE TRANSFER OF CARGO TO BUYER’S STORAGE FACILITY BY GETTING A SHUTTLING VESSEL TO EVACUATE AND TRANSFER PRODUCT FROM THE OFF-SHORE STORAGE FACILITY TO BUYER’S ON-SHORE STORAGE FACILITY AT QINGDAO. THE SHUTTLING VESSEL MAY MOVE UP TO 4 TO 6 TIMES TO COMPLETE EVACUATION OF A 2MBL CARGO

• 
  
  

Contact this Company

You need to login/register to contact this company

               

Important information

• Avoid scams and never pay with Western Union, Moneygram or any other payment services
• We are not responsible for any decisions you make to contact any company. We are not associated with any company listed here.