タイトルまたは説明

Product:              Azeri Light Crude Oil;
Specifications:     SOCAR Standard;
Delivery:             FOB Ceyhan terminal;
Quantity:            Up to 3(for example) mln bbl. monthly, 1 mln bbl per lifting.

For Platts Price

We are ready to organize for you (your Buyer) the direct contract with SOCAR on deliveryof Azeri Light crude oil. Main conditions are following:
1. Terms of delivery - FOB Supsa (Georgia-Black Sea) or FOB Ceyhan (Turkey Mediterranean). CIF deliveries are possible upon agreement;
2. Quality of oil. See enclosed specifications;
3. Volume
The contract is being concluded for single tanker lot of 1 million barrel. Long-term contracts are possible upon agreement;
4. Price
Contractual price is equal to assessments for Azeri Lt FOB or CIF accordingly as published in Platts Crude Oil Marketwireunder the heading Mediterranean spot crude assessments;
5. Payment.
Irrevocable documentary letter of credit;
6. Commissions.
Commissions of our Baku group are determined upon agreement and to be formalized by conclusion of an agency contract between the Buyer and our company Shannon Trade;
PROCEDURE:
1. The buyer should first of all designate oil refinery, whereoil will be delivered. Ideally, the oil refinery as a legal entity, or structure to which the oil refinery belongs or which operates the refinery (it is necessary to prove this fact documentarily) should be the buyer. If the buyer of oil is a toller, it is necessary to present the contract for oil processing or proving letter from the refinery owner.
In any case oil refinery and the buyer should be ones that did not yet receive oil from SOCAR.
2. To start work the Buyer should send us the followings:
- A Letter of Intent (LOI) according to the enclosed model format;
- A letter from End User Refinery including detailed summary about the refinery (location, history, organizational structure, technological features,capacity, from where crude oil was bought earlier etc.) and describing their relationship with the Buyer;
- A bank reference about bank accounts of the Buyer and his ability to pay for the ordered oil.
3. In case of approval of submitted information (documents) by SOCAR, an authorized representative (or first person) of the Buyer Company should arrive to Baku where a meeting with the management of SOCAR Department of Marketing and Operations will be carried out and will be coordinated and signed a Contract for delivery of Crude Oil.
In practice, this means that the step-by-step work in the first phase will be as follows:
1. The Buyer sends (electronically, scanned images) to us the necessary papers to be submitted to SOCAR and our Agency Agreement signed by them (the Buyer);
2. We present their documents to SOCAR for consideration;
3. SOCAR gives go-ahead for their arrival to Baku and holding TTM with them, we inform the Buyer on that;
4. The Buyer obtains from their bank and send us a letter that the Bank is aware of our Agency Agreement with the Buyer and commits itself to issue a Payment Undertaking for our Commissions upon presentation of Contract for delivery of Crude Oil signed between SOCAR and the Buyer;
5. We invite Buyers representative(s) to Baku, they come, and we carry them to TTM;
6. Contract for delivery of Crude Oil is being signed
and so on.