NIGERIAN LIGHT CRUDE OIL
EXPORT VIA TANKER TAKE OVER: 1-2, 000,000 BARRELS NIGERIAN LIGHT CRUDE OIL NNPC LTD EXPORT GRADE IN NIGERIAN WATER FOR SHIPMENT TO LOME/GHANA PORT👇👇
▪️ COMMODITY: NIGERIAN LIGHT CRUDE OIL
▪️ PRICING: DATED BRENT MINUS US$14 PER BBL (GROSS DISCOUNT)
▪️ COMMISSION: US$4/BBL (US$2/BBL ON EACH SIDE)
▪️ QUANTITY: 1-2, 000,000 BARRELS (+/-5%)
▪️ QUALITY: NNPC EXPORT STANDARD
▪️ DELIVERY TERMS: AS PER INCOTERMS 2020
▪️ VESSEL TYPE: VLCC
STANDARD OPERATING PROCEDURES👇👇
1. THE SELLER ISSUES A DRAFT SALES AND PURCHASE AGREEMENT (SPA) FOR THE SPECIFIC TRANSACTION. THE SPA WILL DETAIL ALL TERMS, CONDITIONS, SPECIFICATIONS, AND BANKING COORDINATES.
2. THE BUYER REVIEWS THE SPA, MAKES ANY NECESSARY AMENDMENTS, AND RETURNS THE SIGNED AND SEALED FINAL VERSION TO THE SELLER.
3. THE SELLER COUNTERSIGNS THE SPA. BOTH PARTIES LODGE THE EXECUTED SPA WITH THEIR RESPECTIVE BANKS. THIS AGREEMENT IS NOW LEGALLY BINDING.
4. BUYER' BANK ISSUE REQUEST FOR APG LETTER TO RECEIVE N100MILLION APG FROM SELLER'S BANK VIA SECURED BANK TO BANK EMAIL FOR THE PETROLEUM PRODUCTS
5. UPON THE RECEIPT OF THE BUYER'S BANK REQUEST LETTER FOR N100MILLION APG, THE SELLER'S BANK SHALL CONFIRM THE FINANCIAL CAPABILITY OF THE BUYER'S BANK VIA SECURED BANK TO BANK EMAIL
6. THE SELLER'S BANK SHALL TRANSMIT THE N100MILLION APG TO THE BUYER'S BANK FOR THE PETROLEUM PRODUCT SUPPLY TO LOME/GHANA WATER FOR Q&Q ASSESSMENT. UPON THE APG CONFIRMATION, THE BUYER'S BANK WITHIN 24 HOURS TRANSFER THE CASH OF ₦100,000,000.00 (ONE HUNDRED MILLION NAIRA)
7. THE SELLER’S SHALL PROVIDE THE BUYER'S WITH A SET OF PROOF OF PRODUCT (POP) DOCUMENTS, INCLUDING:
▪️ MARINE B/L
▪️ ATS
▪️ M/NOR
▪️ CERTIFICATE OF QUANTITY
▪️ CERTIFICATE OF QUALITY
▪️ CARGO MANIFEST
▪️ TANKER ULLAGE REPORT
▪️ CERTIFICATE OF ORIGIN.
▪️ TANKER Q88
▪️ MARITIME HEALTH DECLARATION REPORT
▪️ CREW LIST
▪ LAST 10 PORT OF CALLS
8. THE SELLER INSTRUCTS THE VESSEL MASTER TO PROVIDE REGULAR ETA UPDATES TO THE BUYER AND THEIR DESIGNATED PORT AGENT
9. THE VESSEL ARRIVES AT THE PORT OF DISCHARGE (AROUND 10NM TO 14NM) AND MAKES ANNOUNCEMENT ARRIVAL TO THE RELEVANT PORT AUTHORITIES, AND ISSUES NOTICE OF ARRIVAL TO THE BUYER'S AGENT AND DESIGNATED PORT AUTHORITIES.
10. THE BUYER'S INSPECTION TEAM, RECEIVES LETTER OF AUTHORITY TO CONDUCT FINAL INSPECTION ON THE CARGO AS Q/Q ANALYSIS.
11. *THE VESSEL MASTER RECEIVES THE INSPECTION TEAM AND THE SUPER CARGO MOUNT THE PREGNANT VESSEL WHILE THE INDEPENDENT MARINE SURVEYOR EXTRACT SAMPLES FOR Q/Q ASSESSMENT
12. THE VESSEL MASTER TRANSMIT CO-SIGNED ATTESTATION REPORT FROM THE LOADED VESSEL DOMAIN TO BOTH PRINCIPALS
12. WITHIN 12 TO 24HOURS, THE INDEPENDENT SURVEYOR ISSUES THE CERTIFIED Q&Q REPORT TO THE BOTH PRINCIPALS FOR VERIFICATION AND CONFIRMATION
13. THE BUYER MAKES PAYMENT OF US$1,000,000 (ONE MILLION UNITED STATE DOLLAR) FOR RE-ASSIGNMENT AND ALLOCATION GUARANTEE AND SECURE THE VESSEL
14. UPON CONFIRMATION, THE BUYER RECEIVES FULL CARGO DOCUMENTS SUCH AS BELOW AS A REASSIGNED DOCUMENTS AS THE POTENTIAL CONSIGNEE:
▪️ MARINE B/L
▪️ ATS
▪️ CERT. OF QUALITY
▪️ CERT. OF QUANTITY
▪️ CERT. OF AUTHENTICITY
▪️ CARGO MANIFEST
▪️ TANKER ULLAGE REPORT
▪️ TANKER Q88
▪️ CHARTERED PARTY AGREEMENT
▪️CHARTERED INVOICE
▪COMMERCIAL INVOICE
15. UPON THE RECEIPT OF THE REASSIGNED DOCUMENTS WITH CHARTERED INVOICE THE BUYER OFFICIALLY RE-CHARTER THE VESSEL AND MAKES 100% TOTAL CARGO PAYMENT LESS U$1,000,000 (ONE MILLION UNITED STATES DOLLARS) REF. TO ARTICLE 13 TO THE SELLER'S NOMINATED ACCOUNT. BUYER ALSO MAKES COMMISSION PAYMENT TO THE INTERMEDIARIES INVOLVE
16. SELLER TRANSFER THE WARRANT OF TITLE TO THE BUYER*
17. THE BUYER TAKES POSSESSION OF THE CARGO, CONCLUDING THE TRANSACTION.
Regards 🤝
Ekom Eshiet
#OilandGasWithEkomEshiet
