NIGERIAN OIL PRODUCT

 

NIGERIAN LIGHT CRUDE OIL (LCO) QUALITY NNPC
Export Standard Grade

 

PROCEDURE # 1 CIF TRANSACTION (SBLC/OR BG VIA MT760)

 

  1. Seller issues Sales Purchase Agreement to Buyer, while the Buyer sign’s and return PDF converted copy with PORT OF DISCHARGE STORAGE FACILITY DETAIL and NOR/ETA format, together with INSTRUMENT ISSUERS’ PASSPORT COPY and Business Registration Certificate TO SELLER as both parties lodge SPA with their respective banks.
  2. Seller issues ALLOCATION-LETTER OF AUTHORITY (ATS) / MANDATE TO SELL CARGO AND REPRESENT THE NNPC/JV OPERATORS BONNY TERMINAL to the buyer.
  3. Buyer’s bank issues to Seller’s bank RWA BY BANK EMAIL stating their READINGNESS, WILLINGNESS AND ASSURANCE TO ISSUE STANDBY LETTER OF CREDIT (SBLC) TO THE SELLER’S BANK WITH SELLER’S VERBIAGE covering cargo value.
  4. Seller’s bank confirms RWA, stating their READINGNESS, WILLINGNESS AND ASSURANCE to receive the Buyer’s SBLC and to issue a 2% Performance Bond upon receipt and validation of the
  5. BUYER’S BANK ISSUES SBLC TO THE SELLER’S NOMINATED BANK ACCOUNT WITH SELLER’S VERBIAGE.
  6. Seller confirms Buyer’s SBLC, issue 2% Performance Bond and immediately thereafter, nominates and load the delivery vessel in Buyer’s name and submits to Buyer, vessel documents per Article #6.
  7. Buyer verifies/confirms cargo documents for the Vessel/Cargo (Per Lot), which shall properly be reflected on the NNPC DATA BASE at BONNY ISLAND. The Seller instructs the Vessel Master/Captain to issue periodic Marine NOR/ETA to Buyer’s Harbor/Terminal Master at Buyer’s Storage Facility Port-of-discharge and sail the vessel to the Buyer’s Port of discharge.
  8. Upon arrival at the Port of Discharge, the vessel Captain issues a Marine Authority to Board (MATB) to Buyer’s inspection team and to perform the Quality and Quantity (Q&Q) inspection. The Inspection Team, at Buyer’s expense, boards the vessel and conducts the Q&Q inspection.
  9. Upon confirmation of a positive Q&Q analysis report, Seller will present to Buyer a final Commercial Invoice duly-executed by the Seller for the full value of the measured barrels as determined by the final Q&Q analysis report, together with a full set of original shipping documents (endorsable/assignable) in Buyer’s name, to effect payment.
  10. Within forty-eight (48) banking hours of Q/Q, Buyer pays in United States dollars via SWIFT MT103 Wire Transfer to the Sellers’ designated bank account the full value as determined by the final and confirmed Q&Q analysis report.
  11. Buyer immediately pays all intermediary commissions in accordance with the Fee Protection Agreement provisions of this SPA/Agreement.
  12. Seller’s bank confirms full payment receipt and acceptance by sending a SWIFT message acknowledgment to Buyer’s bank and Seller will render to Buyer the free and clear Certificate of Ownership/Title of Cargo (which shall be endorsable /assignable). Upon successful payment and title   transfer of the product, the Harbor/Terminal Master releases the Tank Numbers and the Vessel   Captain and Harbor/Terminal Master sign the Discharge or Delivery Note/Certificate for discharge of   the cargo/vessel to commence immediately to Buyer’s designated storage facility.
  13. A repeat of the procedure is applied per each month’s shipment/lot until final delivery as per the terms/schedule of The SPA Contract for the next 11 Months until the contract is termed.

 

 

PROCEDURE # 2   CIF TRANSACTION (BLOCKED FUND VIA MT799)

 

  1. Seller issues Sales Purchase Agreement to Buyer, while the Buyer sign’s and return PDF converted copy with PORT OF DISCHARGE STORAGE FACILITY DETAIL and NOR/ETA format together with INSTRUMENT ISSUERS’ PASSPORT COPY and Business Registration as both parties lodge SPA with their respective banks.
  2. Seller issues ALLOCATION-LETTER OF AUTHORITY (ATS) / MANDATE TO SELL CARGO AND REPRESENT THE NNPC/JV OPERATORS BONNY TERMINAL to the Buyer.
  3. Buyer’s bank issues to Seller’s bank A PRE-ADVICE Via SWIFT MT799 stating their READINGNESS, WILLINGNESS AND ASSURANCE TO ISSUE A CASH BACK BLOCK FUND VIA MT799 SWIFT TO THE SELLER’S NOMINATED BANK ACCOUNT WITH SELLER’S VERBIAGE.
  4. Seller’s bank responses, PRE-ADVICE stating their READINGNESS, WILLINGNESS AND ASSURANCE to receive Buyer’s MT799 BLOCK FUND and to issue a 2% Performance Bond upon receipt and validation of the MT799 BLOCK FUND.
  5. BUYER’S BANK ISSUES CASH BACK BLOCK FUND VIA MT799 SWIFT TO SELLER’S NOMINATED BANK ACCOUNT WITH SELLER’S VERBIAGE.
  6. SELLER CONFIRMS BUYER’S BLOCK FUND, ISSUE 2% PERFORMANCE Bond and immediately thereafter, nominates and load the delivery vessels in Buyer’s name and submits to Buyer, vessels documents per Article #6.
  7. Buyer verifies/confirms cargoes documents for the Vessel/Cargo (Per Lot), which shall properly be reflected on the NNPC DATA BASE at BONNY ISLAND. The Seller instructs the Vessel Master/Captain to issue periodic Marine NOR/ETA to Buyer’s Harbor/Terminal Master at Buyer’s Storage Facility Port-of-discharge and sail the vessels to the Buyer’s Port of discharge.
  8. Upon arrival at the Port of Discharge, the vessels Captains issue a Marine Authority to Board (MATB) to Buyer’s inspection team and to perform the Quality and Quantity (Q&Q) inspection. The Inspection Team, at Buyer’s expense, boards the vessel and conducts the Q&Q inspection.
  9. Upon confirmation of a positive Q&Q analysis report, Seller will present to Buyer a final Commercial Invoice duly-executed by the Seller for the full value of the measured barrels as determined by the final Q&Q analysis report, together with a full set of original shipping documents (endorsable/assignable) in Buyer’s name, to effect payment.
  10. Within 5 banking days of Q/Q, Buyer pays in United States dollars via SWIFT MT103 Wire Transfer to the Sellers’ designated bank account the full value as determined by the final and confirmed Q&Q analysis report.
  11. Buyer immediately pays all intermediary commissions in accordance with the Fee Protection Agreement provisions of this SPA/Agreement.
  12. Seller’s bank confirms full payment receipt and acceptance by sending a SWIFT message acknowledgment to Buyer’s bank and Seller will render to Buyer the free and clear Certificate of Ownership/Title of Cargo (which shall be endorsable /assignable). Upon successful payment and title transfer of the product, the Harbor/Terminal Master releases the Tank Numbers and the Vessels Captains and Harbor/Terminal Master sign the Discharge or Delivery Note/Certificate for discharge of the cargoes/vessels to commence immediately to Buyer’s designated storage facility.
  13. A repeat of the procedure is applied per each month’s shipment/lot until final delivery as per the terms/schedule of The SPA Contract for the next 11 Months until the contract is termed.

 

 

PROCEDURE # 3:  FOB WEST AFRICA WATER ONLY 

 

  1. Both parties sign Sales Purchase Agreement (SPA) and return copy with vessel CPA, Q88, CPA invoice and ATL made out to NNPC via GGSL. Buyer issues to the seller their INSTRUMENT         ISSUERS’ PASSPORT COPY and Business Registration
  2. The Buyer’s bank issue SBLC OR BG OR BLOCK FUND for $100m VIA MT760 SWIFT to guarantee performance while seller issues a 2% Performance Bond to guarantee loading and delivering.
  3. Seller program vessel for loading and notify buyer accordingly
  4. NNPC Terminal open communication with buyer’s captain, clear the vessel and escort vessel to loading platform.
  5. Seller loads vessel and buyer’s onboard inspector performs Q&Q test.
  6. Inspectors release report to both parties while seller issues full cargo documents with Commercial Invoice in Buyer’s name.
  7. Within 48 hours after inspection, buyer wires full payment to seller designated bank account.
  8. Seller confirm payment, clears vessel and vessel sails to buyer’s Port Of Destination (POD)
  9. Buyer provides empty vessel at agreed time and place while Seller makes subsequent shipment.

 

PROCEDURE # 4: TTO WEST AFRICAN WATER ONLY (Price to be adjusted) 

 

  1. THE BUYER AND SELLER SIGN SPA WITH FULL BANKING DETAILS OF FIDUCIARIES AND SEND COPY TO THEIR RESPECTED BANK.
  2. BUYER RETURNS SIGNED SPA WITH NOR/MATB FORMAT, SUPERCARGO AND INSPECTOR’S DETAILS.
  3. BUYER’S BANK ISSUES TO SELLER’S BANK PREADVIS VIA MT799 SWIFT STATING THEIR READINGNESS, WILLINGNESS AND ASSURANCE TO ISSUE STANDBY LETTER OF CREDIT (SBLC) TO THE SELLER’S BANK WITH SELLER’S VERBIAGE IN THE AMOUNT OF ($100,000,000.00 USD) COVERING THE FULL VALUE OF $100M.
  4. SELLER’S BANK CONFIRMS PREADVISE VIA MT799 SWIFT, STATING THEIR READINGNESS, WILLINGNESS AND ASSURANCE TO RECEIVE THE BUYER’S SBLC.
  5. SELLER LOAD VESSEL AND OBTAIN ALL CARGO DOCUMENTS IN BUYER,S NAME FROM NNPC AND AUTHORIZE PREGNANT VESSEL CAPTAIN TO SEND NOR/ETA TO THE BUYER TEMA HARBOUR.
  6. BUYER’S BANK ISSUES SBLC TO THE SELLER’S ECOBANK TOGO FUNDER’S NOMINATED BANK ACCOUNT WITH SELLER’S VERBIAGE IN THE AMOUNT OF ($100,000,000.00 USD).
  7. SELLER MOVES VESSEL TO GHANA WATERS AND MAKES ANNOUNCEMENT AT 10—12 NAUTICAL MILES
  8. VESSEL CAPTAIN ISSUE MATB AND BOARDS SUPERCARGO AND INSPECTORS TO TAKE SAMPLE WHILE BUYER’S INSPECTORS PERFORMS QUANTITY AND QUALITY ANALYSIS/TEST.
  9. UPON SUCCESSFUL QUALITY AND QUANTITY (Q&Q) INSPECTION, BUYER’S BANK MAKES PAYMENT VIA MT103 FOR THE ENTIRE CARGO. AND IMMEDIATELY PAYS ALL INTERMEDIARY /AGENTS COMMISSIONS SIMULTANEOUSLY IN ACCORDANCE WITH THE PROVISIONS OF THIS SPA/AGREEMENT.
  10. THE SELLER INTRODUCES BUYER TO VESSEL’S HOME OFFICE OR VESSEL HANDLERS FOR RE-CHARTER AND SELLER HANDS OVER FULL DOCUMENTS OF THE CARGO TO BUYER FOR FINAL PAYMENT.
  11. SELLER MAKE SUBSEQUENT 11 MONTHS ANNUAL SHIPMENTS ON DIP AND PAY

 

PROCEDURE # 5: TTT WEST AFRICAN WATER ONLY (Price tob e adjusted)       

 

  1. Both parties sign this contract while Buyer return a copy with their NOR FORMAT & Vessel details: CPA, Q88, CPA PREPAID INVOICE & ATL MADE TO: xxxxxxxxxxxxxxx
  2. Buyer pay logistic fees of USD$500,000 by confirmable corporate cheque made out to XXXXXXXX with scanned copy emailed to the Seller. OR Issue BANK GUARANTEE of usd$500,000 AS logistic fees to sail vessel down to Tanker To Tanker Point of transshipment.
  3. Seller issue NOR while Buyer overnights the hard copy of the cheque to bank officer: Mr. XXXXXXXX, XXXXXXXXXXXXXXX and provide courier number.
  4. Both Captains open communicate by email and long-side with each other while cheque is cashed.
  5. Buyer’s on board inspector performs Q/Q on Seller’s vessel while Buyer places conditional MT103/72.
  6. Seller transships cargo into Buyer’s vessel and issue Commercial Invoice + discharge certificate while Buyer release full payment via wire transfer-same day funds. Buyer immediately pays commission.
  7. Seller & All parties confirm payment and both vessels uncouple and leaves for individual Destination.

 

METHOD OF PURCHASE:  Interested Companies Should Complete FORM C-12 For Application For The Purchase Of Nigerian Crude Oil (Contract). And Return With CLIENT INFORMATION SHEET. 

NOTE: The required information is necessary for the due diligence process and compliance with standard international banking regulations and treaties. All information is treated in the strictest privacy and confidence. To ensure that any application and due process is conducted efficiently and correctly, it is important that the following information is accurate and true. Buyer shall forward passport copy of the buyer accompanied with business registration Certificate to the SELLER’s official mandate [Catherine Buteau-Boisseau at Catcarma Consulting & Trading Limited – via  Dr Taleb – talebl@csa-groupe.com] now who here offering the Crude Oil from Nigerian National Petroleum Corporation (NNPC) as authorized seller.

Please be advice that receipt of the buyer’s Letter Of Credit and a successful validation will determine the success of crude oil lifting from us. No two ways about it. If any of the above procedures is acceptable by you and your team, revert back to us. 

Thanking you for your cooperation and understanding, as we await your feedback.