OUR SALES PROCESS IS STRICTLY BANK TO BANK COMMUNICATIONS ONLY.

CIF DELIVERIES OF BONNY LIGHT CRUDE OIL TO REFINERIES IN EUROPE AND AMERICA ONLY.

Crude Oil typeBonny Light Crude Oil
OriginFederal Government of Nigeria
API Gravity34 – 37
Loading portBonny Ocean Terminal, Federal Government of Nigeria.
Sales typeStrictly CIF deliveries to refineries in Europe and America only.
Selling priceBrent Platt price on three day average at the discharge port.
Trial shipment quantity and durationTwo million barrels monthly for three month trial CIF delivery period.
Long term monthly quantityBuyer’s preferred quantity between two to four million barrels per month
Long term durationTwelve to twenty-four months with extension
Mandatory payment guaranty for the trial CIF delivery of two million barrels bonny light crude oil to the buyer’s safe water port.  Refinery: gives verifiable official purchase order endorsed by buyer’s bank strictly for hundred percent value of the trial shipment only. Payment strictly in United States Dollars after CIF delivery at Refinery’s destination port in Europe and America.  

Trading company: gives verifiable official purchase order and MT799 blocked funds or MT760 Standby Letter of Credit valid for three months only strictly for hundred percent value of quantity in favor of the seller for the trial shipment only. Payment strictly in United States Dollars after CIF delivery at Refinery’s destination port in Europe and America
Mandatory payments guarantee for long term monthly bulk deliveries. Payment strictly in United States Dollars after CIF delivery1. Seller (titleholder’s) bank: Five percent performance bond guaranteed for hundred percent value of the monthly quantity by verifiable Non Divisible Non Transferable Direct-pay Letter of Credit (DLC) valid for 366 days. Seller (title holder): Official loading and delivery dates schedule for the next twelve to twenty-four months of the buyer’s project.

2. Seller (title holder): Official lifting rights of the monthly quantity for the long term CIF delivery duration contract with the buyer.

3. Buyer’s (Refinery’s) bank: verifiable Non Divisible Non Transferable Direct-pay Letter of Credit (DLC) for one hundred percent value of the monthly shipment.

4. Buyer’s (Trading Company) bank: verifiable Non Divisible Non Transferable Direct-pay Letter of Credit (DLC) for one hundred percent value of the monthly shipment.