1.Upon signing and sealing SPA and returning same with Buyers VESSEL PARTICULARS including the charter or pre-charter invoice to the seller.
2. Seller in partnership with NNPC will issue to Buyers vessel LAY-CAN to sail to Bonny Terminal for Loading.
3. Seller will guarantee the clearance of Buyers VESSEL in and out of Bonny Terminal.
4 Buyer issues a BG/LC for the full value of the cargo and all commissions while the Buyer VESSEL is being loaded at the Terminal.
5 Buyer elect to perform Q & Q inspection of his VESSEL, until and when the Q & Q is completed and vessel is ready to sail to its final destination.
6 Upon completion of outturn Buyers Letter of Credit ( L/C)/BG immediately pays for quantity LOADED ONLY against FINAL Q & Q REPORT.
All discharge documents will be as follows:
I. Delivery Discharge Certificate signed by NNPC and Buyer’s Captain confirming the outturn discharge quantity of crude oil into M/T xxxx.
II. Seller’s Final Commercial Invoice.
III. Quality Certificate and Quantity Report issued by SGS and signed by both Captain’s, evidencing the Outturn Quantity and date of completion of discharge/transfer of crude oil into M/T xxxx.
IV. Buyer’s Letter of acceptance of the quality of the cargo loaded on Seller’s vessel and their instruction to transfer the cargo into Buyer’s vessel.
END BUYERS ONLY OR THEIR MANDATES PLEASE
PRODUCT DESCRIPTION (NIGERIAN LIGHT CRUDE OIL)
The BLCO BREND shall comply with the Following Nigerian
National Petroleum Corporation (NNPC) Official Technical Specifications:
1. Specific Gravity @ 60F/15.55C 0.8387- 0.8498
2. API Specific Gravity @ 60F/15.55C 35.0 – 37.0Max
3. Density at 60F/1515.55C-Cg-CM-MAC 0.85Max
4. Pour point: <40F/4.44C
5. Sulphur Content Wt, Pct (%): 0.14Max
6. Color: Dark Brown
7. Salinity: TB at 0.10% BS7W 47.0Max
8. Acid number: 0.39Max
9. Reid Vapour Pressure: 6.52psig Max
10. Water & sediment Content. Pct (%) 11.00%Max
11. Iron Wt, ppm 1.00Max
12. Nickel Wt. Ppm 4.00Max
13. Vanadium Wt, p
- Minimum Order : 2000000