The
product offered by the Seller and accepted by the Buyer is Forcados Light Crude
Oil that shall be lifted from NNPC Nigeria.Quality is NNPC export grade specification, only water and basic sediment
(B.S&W) ascertained at the port of loading shall be deducted in computing
the net quantity of the Crude Oil loaded and certified in the Bill of Lading,
as per the inspection certificate issued at the supply Port by “ROBINSON
INTERNATIONAL” “SAYBOLT”, “BALTIG
CONTROL” or “SGS”, which shall be final and binding upon the parties.
Technical specifications
Specific
Gravity (API) 34-38
Density
at 20 degrees, CG.CM, max 0.85
Basic
Salt Water (BSW) 0.6 %
Vol
Color Dark
Brown
Acid
Number 0.39
Reid
Vapor 6.52
max (PS)
Water
& Sediment % max
1.0
Iron,
wt ppm 1.0
Vanadium,
wt ppm 2.0
Nickel,
wt ppm 4.0
Pour Point below
40 deg. F
Sulfur
Content, % wt 0.14
PROCEDURE FOR FORCADOS LIGHT CRUDEOIL TTT
1.
Buyer and Seller sign and seal the
Sales/Purchase Agreement with their full banking details. The electronically
signed copy by both parties is considered legally binding and enforceable and
must not be changed without the written consent of the parties.
2. Buyer returns the
signed/sealed SPA with Buyer's CPA,Q88,Receipt of charter’s AND ATL., for the
issuance of Marine NOR., Buyer confirmed the Nor, and place the full instrument
for the total cost of the cargo or pay N10 Million Naira for NOR..
3.
Seller place full instrument MT103/23 for the total cost of the cargo to
seller’s Bank.
4. Seller will allow the buyer s/cargo and inspector’s to
board seller’s vessel to conduct the Q&Q before transshipment take place
buyer must place the instrument..
.
5. Seller
boards buyer’s supercargo, in Nigerian waters, for the confirmation of the
product in seller’s loaded vessel.
6.
WITHIN
24 HOURS OF THE SUPERCARGO ON BOARD OF SELLER’S LOADED VESSEL, BUYER’S
SUPERCARGO SHALL CONFIRM TO BUYER THE PRODUCT ON THE SELLER’S LOADED VESSEL AND
RELAYS SAME INFORMATION TO THE SELLER.
7.
Upon satisfactory confirmation
of the crude oil on board the vessel by super cargo
to buyer in Nigerian water
and WITHIN 72 BANKING HOURS, BUYER
THROUGH HIS BANK SHALL RELEASE HIS CONFIRMED MT 103 FOR THE PAYMENT OF THE
CARGO TO THE SELLER’S BANK. (a copy of the MT 103 is sent to seller
for confirmation).
8.
SELLER transhipment into Buyer’s vessel. Payment to all account in the spa
Phone: +2348187409540
