Oil & Gas Purchase Procedure

In due consultation with the Consignor; NNPC/PPMC/Joint Venture Operator and a European Refinery, We hereby issue Ready, Willing and Able Buyers this Soft Corporate Offer and confirm our readiness to supply  Liquefied Natural Gas, (LNG), Bonny Light Crude Oil (BLCO) and other refined petroleum products  according to the below purchase procedure; Send your ACCEPTANCE LETTER if you are willing to deal based on the outline purchase procedure OR send us your Intent Letter (LOI) stating your preferred procedure for consideration.

BONNY LIGHT CRUDE OIL (BLCO) PURCHASE PROCEDURE

Contract Quantity: 1 to 6 million barrels per month

Origin/Specification: Nigeria-Export Grade

Contract term: SPOT or 1-5 years CONTRACT.

Delivery Mode: F.O.B, TTO or C.IF to ANY SAFE WORLD PORT (ASWP)

Gross Price: BRENT Crude price on 3 days average within the date of BOL as published by McGraw Hill market wireless

Discount: $13/9 for FOB, $11/7 for TTO and $8/6 for CIF

Commission=FOB & TTO is $2.00/barrel each to both Seller & Buyer’s Agents. $1.00 for both side on CIF

Payment term: Buyer’s irrevocable SBLC or MT-799 block funds or MT-103 as payment assurance. Final Payment by SWIFT transfer in UNITED STATES DOLLARS after delivery of product and presentation of shipping documents

REFINED PRODUCTS PURCHASE PROCEDURE (BULK QUANTITY ONLY)

Refined Products: Automotive Gas Oil (AGO), Premium Motor Spirit (PMS), Dual Purpose Kerosene (DPK) and Low Pour Fuel Oil (LPFO)

Contract Quantity: 100,000 -500,000 metric tons per month

Origin/Specification: Europe-As per Buyer’s specification

Contract term: SPOT or 1-5 years CONTRACT.

Delivery Mode: C.IF to ANY SAFE WORLD PORT (ASWP)

Gross Price: NEGOTIABLE as per prevailing market price 

Commission= $5.00/metric ton to Seller’s Agent &  $5.00/metric ton  to Buyer’s Agents. 

Payment term: Buyer’s irrevocable SBLC or MT-799 block funds or MT-103 as payment assurance. Final Payment by SWIFT transfer in UNITED STATES DOLLARS after delivery of product and presentation of shipping documents

REFINED PRODUCTS PURCHASE PROCEDURE (WITHIN WEST AFRICA)

Refined Products: Automotive Gas Oil (AGO), Premium Motor Spirit (PMS), Dual Purpose Kerosene (DPK) and Low Pour Fuel Oil (LPFO)

Contract Quantity: 2,000 -50,000 metric tons per month

Origin/Specification: Nigeria-NNPC specification

Contract term: SPOT or 1-5 years CONTRACT.

Delivery Mode: TTT, TTO & Tank Farm delivery to West African ports only

Gross Price: NEGOTIABLE as per prevailing market price 

Commission=₦1.00/litre OR $5.00/metric ton to both Seller’s & Buyer’s Agents on Naira or Dollar deal respectively

Payment term: Buyer’s irrevocable SBLC or BG or Local Block funds or MT-103 as payment assurance. Final Payment by SWIFT transfer in NAIRA or UNITED STATES DOLLARS after delivery of product and presentation of shipping documents

LIQUIFIED NATURAL & PETROLEUM GAS PURCHASE PROCEDURE

Contract Quantity: 50,000 to 500,000 metric tons per month

Origin/Specification: Nigeria-Export Grade

Contract term: SPOT or 2-10 years CONTRACT.

Delivery Mode: F.O.B or CIF  to ANY SAFE WORLD PORT (ASWP)

Gross Price: NEGOTIABLE as per prevailing market price 

Commission= $5.00/metric ton to Seller’s Agent &  $5.00/metric ton  to Buyer’s Agents. 

Payment term: Buyer’s irrevocable SBLC or MT-799 block funds or MT-103 as payment assurance. Final Payment by SWIFT transfer in UNITED STATES DOLLARS after delivery of product and presentation of shipping documents

Important Note: For, FOB, the Origin is Nigeria and Buyer’s must provide a LNG or LPG Vessel or officially request our assistance for it. Buyer must also provide evidence of a LNG unloading terminal. For CIF, Origin is Europe.