NNPC PURCHASE PROCEDURES
The following procedures are required to purchase OFF OPEC, Nigerian Bonny Light Crude Oil “BLCO” from Nigerian National Petroleum Corp. (NNPC) and should be discussed including discount if available with potential buyer and only after their acknowledgement a Special Purchase Agreement (SPA) can be prepared.
1) LOI, Client Information Sheet (CIS), company registration certificate, passport of
designated buyer, name discharge port to provide information for SPA
2) SPA provided, signed by buyer and seller and returned to seller
3) Buyer provides RWA with full bank responsibility, send direct to NNPC via Capaldi
4) Upon sellers receipt of RWA, seller will furnish NOR, ETA to buyer
5) Buyer communicates with vessel Master, NOR, ETA
6) Buyer provides Pre-Advise to sellers Fiduciary bank
7) Seller verifies buyers bank, provides POP to buyer
8) Buyer provides acceptable MT799/MT760 to seller
9) Seller prepares IMFPA for commissions
10) Seller re-assigns BLCO documents to buyer
11) Buyer provides ATB format and seller issues ATB to allow buyer’s inspectors/DTA
and super cargo to board vessel.
12) Vessel proceeds to discharge port, inspected by SGS or other, then discharge
13) After discharge, buyer pays in 72 hours by MT103.
NIGERIAN BONNEY LIGHT CRUDE
2,000,000 to 10,000,000 Barrels per month Long Term Contracts
Present Offer $7/$5 Discount (CIF/FOB) with $1 to Buy Side and $1 to Sell Side. Spot offerings available in China and Rotterdam.