Description

NIGERIA BONNY LIGHT CRUDE OIL CIF /FOB TRANSACTION TERMS AND CONDITION:

 COMMODITY: Nigerian Petroleum Product

 DELIVERY: COST, INSURANCE & FREIGHT TO ANY SAVE PORT / FOB

 

QUANTITY AND DURATION: Shipment of **0,**0 (One Hundred and Forty Thousand) Metric Tons/ 1,**0,**0 (1 Million) barrels to **0,**0 (Two hundred and Eighty thousand) Metric Tons/ 2,**0,**0 +/- *0%, with possible rolls and extension at both parties discretion.

PAYMENT TERM: Buyer shall make the payment in U.S Dollars by MT***3 bank-to-bank Wire Transfer when the Commodity is delivered to Buyer at the discharge port.

PRICE: The price for each Barrel of Nigerian Light Crude Oil, delivered out-turned barrels shall be Dated Brent on the date of the Bill of Lading, as published by the McGraw Hill Market Wire Platt Less Discount of $ net per Barrel.

PRICE DEFINED: $8net to buyer on CIF / $*0 net to buyer on FOB

COMMISSION: $0.*0

QUALITY: Quality and Quantity by SGS Test Report on Buyers Port of Destination (POD) on CIF, Quality and Quantity by SGS Test Report on Terminal Loading on FOB.

SPECIFICATION:

API: *4 *7 degree.

Sulphur: Less than 0.*5% wt

Specific Gravity: 0.***7 9.***8

Pour Point: Below *0° (F)

Water Content: 0.2% Vol. Max

BS & W: 0.*5% Vol. Max

RID Vapour Pressure: 6.*5 Ps*9 3.*7

Yield CI C4 WT% 2.*0