Bonny Light Crude Oil

Name of COMMODITY / Product: BONNY LIGHT CRUDE OIL (BLCO)

PRODUCT DESCRIPTION: Light Crude Oil

END SELLER COMPANY: NIGERIAN NATIONAL PETROLEUM CORPORATION (NNPC) Abuja/Bony Ocean Terminal, Nigeria

ORIGIN: NIGERIA

ONLY RWA IS NEEDED TO RECEIVE FULL POP UPFRONT IN BUYER'S NAME

SHIPPING TERMS: CIF, TTO

Port of delivery: CHINA, ROTTERDAM, ASWP, GHANA, ANY SAFE PORT.

PRICE USD (CHINA, ROTTERDAM, ASWP, any safe international water): NWE Platt USD -$10-/BBL GROSS, USD -$6/BBL NET Discount or $10 less $4

PRICE USD (GHANA): NWE Platt USD -$12/BBL GROSS, USD -$8/BBL NET Discount.
OR N50/46 NET (NIGERIA TO GHANA WATERS)

PAYMENT TERMS: MT760 SBLC/MT700 DLC/MT760 BG/MT760 BLOCK FUND via SWIFT


SPECIFICATIONS: INTERNATIONAL EXPORT STANDARD
PROCEDURE NNPC BONNY LIGHT CRUDE OIL (BLCO)

1. Buyer/seller signs SPA

2. Buyer returns SPA with ATB format, seamen details & RWA

3. Seller confirms RWA & load or nominate a vessels that's already in high sea or in/near China, with the full shipping docs in buyer's name.

A. 1 Original and 3 Copies Clean Ocean Bill of Lading.
B. 1 Original and 3 Copies of Certificate of Origin issued by NNPC
C. 1 Original and 3 Copies of Certificate of Authenticity issued by NNPC
D. 1 Original and 3 Copies of Masterâ??s Receipt of Samples
E. 1 Original and 3 Copies for Masterâ??s Receipt of Documents
F. 1 Original Tanker Ullage Report issued at loading Terminal.
G. 1 Original and 3 Copies of Cargo Manifest
H. 1 Original and 3 Copies of Certificate of Quantity.
I. 1 Original and 3 Copies of Certificate of Quality
J. 1 ATS (Authority to Sell)
K. Vessel Q88

4. Buyer confirms docs in his/her name & raises MT760 SBLC/MT700 DLC/MT760 BG/MT760 BLOCK FUND via SWIFT in favor of seller

5. Seller confirms Buyerâ??s issued SWIFT
MT760 SBLC/MT700 DLC/MT760 BG/MT760 BLOCK FUND and order the loaded Vessel to move to the point of discharge for announcement.

NOTICE: Seller will instruct the Vessel's Master to send to Buyer or Buyer's agent ETA notice every twenty-four (24) hours, 48/24/12 hours prior to arrival at the port of discharge. N.O.R. (Notice of Readiness) is to be tendered only during working hours in China, i.e. between 08:00 and 16:00 hours.