Description

Nigeria BONNY LIGHT CRUDE OILis well known as one of the best crude around the world with less sulphur.

Base on the quality of Nigeria crude, Nigeria BONNY LIGHT CRUDE OIL  BLCO is largely demanded all over the world in big volume as the product of a bonafide member of OPEC. Contact us at your comfortable time as we are ready to make this product available for you at any time without delay or any form of disappointment.   

PROOF OF PRODUCT AND CARGO INFORMATIONALLOCATION DETAILS:

The product offered by the Seller and accepted by the Buyer is Bonny Light Crude Oil that shall be lifted from NNPC Bulk approved equity agents share Off OPEC Record.

LIFTING FROM QUARTER BULK APPROVED OF OUR MPR.

a. CONTRACT NO: SHALL BE SEEN ONSPA

b. EXPORT PERMIT LICENCE NO: SHALL BE SEEN ONSPA

c. MPR REF NO: SHALL BE SEEN ONSPA

d. TRANSACTION CODE: SHALL BE SEEN ONSPA

e. PRODUCT: NIGERIA BONNY LIGHT CRUDE OIL MINIMUM OF **0,**0 M/TONS OR MINIMUM QUANTITY OF 2,**0,**0+/*5% BARRELS VOLUME AS CORRECTED TO PER-PT-(5).

f. QUANTITY: *2,**0,**0 MILLION BARRELS AVAILABLE TO BE LIFTED FROM 1st QUARTER TO FOURTH QUARTER ***4.

g.PORT OF LOADING: BONNY TERMINAL BONNY

h. SUPPLIERS: NNPC JV OPERATORS, BONNY TERMINAL

i. CONSIGNEE: TO BE ADVISED (TBA)

j. VESSEL: TO BE NOMINATED (TBN)

k. PAYMENT OF PRODUCT: SHALL BE BY CONFIRMED BG VIA MT**0

L.INSPECTORS: S.G.S OR ITS EQUIVALENT BONNY TERMINAL VIA PORT    

m. ARCOURT

The product:

The product offered by the Seller and accepted by the Buyer is Bonny Light Crude Oil that shall be lifted from NNPC equity agents share

Quantity:

The Seller shall supply a quantity of about 1,**0,**0 BBLS(One Million Barrels) per month +/- 5% barrels monthly or more of crude oil. The shipment is monthly and the duration of this contract is for a period of twelve months and can be renewed every year with mutual consent.

The assignment may be transferred part or the total number of barrels mentioned in the same, with only a written notification to SELLER asking them to make this re-assignment

Quality:

The quality will be as perNNPC export grade specification, only water and basic sediment(B.S&W) ascertained at the port of loading shall be deducted in computing the net quantity of the Crude Oil loaded and certified in the Bill of Lading, as per the inspection certificate issued at the supply Port bySAYBOLT orSGS, which shall be final and binding upon the parties

Technical Specifications:

Specific Gravity:            0.***9.

Water Content:              0.2% Vol. Max

BSW:                           0.6% Vol., max.

Pour point:                    Below *0 Degree F. max

Salt:                             LB per 1,**0 bbl, *2, max

Total Sulphur, wt%:       0.*4 max

Reid Vapor Pressure:    6.*2 PSIG, max

Carbon Residue, wt%:   1.0, max.

VINI, PPM wt:,              2.0

Vis, *@********************style= "mso-spacerun:yes"> 3.*7, min.

Yield C*-C4 wt%:          2.*0

Delivery Terms:

The terms of the delivery for this agreement shall be ofCIF or FOB basis. Any terms not covered by this agreement shall be covered by INCOTERMS ***0 forCIF or FOB sales.

The parties also hereby agree that the SELLER should notify the BUYER with the entire necessary vessels information that will enable him (the buyer) to keep contact with the vessel and knowing its exact ETA (AS MIGHT BE REQUIRED BY THE BUYER.)

. Payment Terms:

a.      The payment will be in US Dollars and a PAYMENT GUARANTEE shall be made by irrevocable, confirmed & cash backed BG VIA MT**0 from a prime Bank in favor of the Allotee (or thru Allottees authorized Financier) issued or confirmed by a top rated bank in favor of the Allottee in the amount of US Dollars corresponding to the total value of EACH SHIPMENT.

b.      Quantity as assessed at the Loading Port by the independent Inspector or Surveyor Company and price as determined as per clause 5 of this Contract will be used to compute the Allottees Invoice.

c.      Payment for the Cargo shall be made immediately AFTER *2 HOURS, THRU MT **3 TO THE SELLERS BANK ACCOUNT, after the cargo has been discharged into the Buyers storage tanks at the unloading port from the Sellers nominated vessel/Terminal and Quality & Quantity have been confirmed correct as shall be confirmed by the master of the vessel AT SIGHT.

d.      In the event of payment due date falls on a Saturday or a New York banking holiday, then payment shall be effected on the next New York banking day.

e.      Buyer shall instruct its bank to advise Allottees bank by SWIFT or tested telex quoting the value date of the transfer, the amount, the invoice number and the clearing bank, if any. Such advise is to be sent in due time so as to enable Allottees bank to credit Allottee with value on due date.

f.        All payments are effectuated according to the Contract agreement agreed herein.

g.      The BG VIA MT**0 shall be in the form acceptable by the Allottee (or its appointed Financier) and shall meet international standards/requirements.

The Buyer shall be responsible for all the charges pertaining to the issuance of BG VIA MT**0

.  Documents:

a.     Full set of 3 original and non-negotiable copies of Bill of Lading

b.     1 Original and 3 copies of Certificate of Quantity

c.      1 Original and 3 copies of Certificate of Quality

d.     1 Original and 3 copies of Certificate of Origin

e.     1 Original and 3 copies of Masters Receipt of Samples

f.       1 Original and 3 copies for Masters Receipt of each one-copy document, except Commercial Invoice

g.      1 Original Ullage Report issued at loading terminal

h.      1 Original and 3 copies of Cleanliness Report at loading port.

Liability and Penalty:

If there is any non-performance or any unreasonable delay from the Seller, the Buyer has the right to claim the 2% performance bond without any further notice.

Except as expressly provided in the Agreement, neither Seller nor Buyer shall be liable for any indirect/consequential losses which may be suffered/alleged to have been suffered by the other party.

Failure by either Seller or Buyer will HOLD all the other beneficiary companies listed herein and in the Irrevocable Master Fee Payment Agreement (IMFPA) associated with this SPA (bearing the same SELLERs and Buyers codes), their officers, employees, agents, representatives harmless from claims, incidental or consequential damages or legal proceedings arising out of performance of this contract.

Insurance:

Seller, at his own expense, shall procure a policy with a first class Marine Insurance Institute to cover one hundred and ten percent (**0%) of the value of the cargo. The insurance policy will cover all risks of loss or damages to said cargo, including war, hijacking, explosion etc, from the time cargo has passed the ships manifold flanges at the loading port.

For purchase or inquiry, contact us

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