Saudi arabia light crude oil
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The document provides specifications for Saudi Arabia Light Crude Oil, including details on API gravity, sediment content, wax percentage, vanadium and sulfur content. It also outlines the standard procedures for purchasing Saudi Light Crude Oil, which involves the buyer issuing a purchase order and proof of funds, the seller providing an offer and later a performance bond, and documents to protect commissions for intermediaries. Delivery of the oil then begins according to the contract schedule.
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Saudi arabia light crude oil
- 1. Saudi Arabia Light Crude Oil SAUDI LIGHT CRUDE OIL SPECIFICATION API GRAVITY: 33 – 34 SEDIMENT CONTENT: 0.1 ASTM STABILIZED GRAVITY: 34.5 WAX – WT PERCENT: 2.9
- 2. VANADIUM PPM V200: 11.0 GROSS HEATING VALUE: 19.23 REID VAPOUR PRESSURE: 2.0 SALT CONTENT, PPM NaCl: 3.8 SULPHUR, WT PERCEN: 1.5 Max ASH, PPM: 100.0 COMP. CARBON RESIDUE, WT PERCENT: 3.1 The Procedure of Saudi Arabia Light Crude Oil PROCEDURES 1. Buyer issues an ICPO, LOI, and BCL with right to soft probe. 2. Seller issues FCO for buyer review sign, seal and return FCO with a letter of acceptance. 3. Seller issues Draft Contract for buyer review and sign, seal and return 4. Seller signs, seals hard copies contract sends 3 copies to buyer. 5. Both parties lodge the signed contract to their respective banks. 6. Upon receipt of buyer’s POF, Seller shall issue POP BANK TO BANK 7. Buyer issues BANK to BANK pre advice or Irrevocable Non Operative DLC to seller’s bank and within 7 international banking days seller issues Performance Bond. 8. NCNDA-MFPA issued by end Seller to be signed by all intermediaries/brokers and End buyer then legalized and endorsed by the End Sellers’ bank.(to guarantee commissions to all brokers) 9. Delivery of product commences as per schedule in contract. KEY: ICPO – IRREVOCABLE CORPORATE PURCHASE ORDER LOI – LETTER OF INTENT BCL – BANK CAPABILITY LETTER / BANK COMFORT LETTER FCO – FULL CORPORATE OFFER PB – PERFORMANCE BOND IRDLC – IRREVOCABLE DOCUMENTARY LETTER OF CREDIT POF – PROOF OF FUNDS POP – PROOF OF PRODUCT NCNDA – NON CIRCUMVENTION NON DISCLOSURE AGREEMENT MFPA – MASTER FEE PROTECTION AGREEMENT
- 3. I hope to read from you soon Thank you Contact TINSEL CARGO & OIL COMPANY COMMERCE HOUSE 3RD FLOOR, SUITE 311, MOI AVENUE, NAIROBI. P.O. BOX 79456-00200 NAIROBI, KENYA TELE FAX: +254-20-2229781, Cellphone: +254-722-761587, +254-734-939308 Website: www.tinselcargo.com EMAIL: info@tinselcargo.com