Crude Oil & Derivatives

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 SOFT OFFER

Product: Saudi Light Crude Oil (STANDARD Export Quantity)

Origin: Saudi Arabia

API GRAVITY 33-34

SEDIMENT CONTENT 0.1

ASTM STABILISED CRAVITY 34.5

WAX WT PERCENT 2.9

VANADIUM PPM V-200 11.0

GROSS HEATING VALUR 19.23

SALT CONTENT, PPM Nacl 3.8

SULPHAR, WT PERCENT 1.5 MAX

ASH PPM 100.0

COMP. CARBON RESIDUE, WT PERCENT 3.1

VISCOSITY, CP 55.0

POUR POINT 35.0

Quantity: 2.000.000-60.000.0000 Barrels per monthly shipment(s) for for each product with  Positive or Negative Tolerence of Five Percent (+/-5%)

Duration: 12 months (Twelve Moths) with possible rolls & Extensions.

Delivery Term: CIF

Price CIF: The price shall be determined to the average of 3 (Three) days around the B/L date (the day before, the day of bill of lading and the day after), under the Heading of DUBAI PLATT'S OIL MARKET WITE PUBLISHED POSTED PRICE.

Discount: Gross$6 / Net$3

Payment: The payment for each cargo. Irrevocable, Transferable, Revolving, Confirmed, RDLC to the value of one month's shipments, value confirmed by World Top 25 Prime Banks and Revolving for the entire period

Performance Bond: 2% performance bond will be issued by a top US Bank acceptable to the buyer and sent.

Cargo Size: To Be Negotiable

Inspection: Societe Generale de Surveillence (SGS) or equivalent survillance company certificates, at sellers option, verifying timely delivery, specifications,CIF delivered quantities as per Agreement. the inspection costs to be paid by seller or ARAMCO. Tests (IP) for quality shall be made according to the lastest standard method (ASTM

Commission: Royalty USD$1 bbl (Closed) Seller's Side USD$1 bbl (CLOSED) Buyer's Side USD$1 (Open)

Procedures:

1. Buyer issues LOI

2. Seller issues FCO

3. Buyer sends back signed and sealed FCO and then issues ICPO

4. Buyer's bank issues BCL to sellers bank

5. Seller's bank issues POP to buyer's bank

6. Seller's issues draft contract on terms and conditions

7. Buyer;s bank issue L/C to seller's bank

In order to issue an accurate account (FCO) we need a detailed Buyer's Letter Of Intent (LOI) together with buyer.s Letter Head. FCO will not be issued until buyer issues LOI. time wasters need not apply.