Selling Offer on Arabian Light Crude Oil

Commodity Crude Oil – Arabian Light (ARABLT)

Quantity Five (5M) million barrels per month

Contract Period: Twelve (12) months

Delivery Terms: FOB, Saudi Arabia

Origin: Saudi Arabia

Specification: As per "Annex – 1"

Price: Price will be based on the Dubai Platt's oil market wire
published, posted price index the mean of the mean average
of three (3) consecutive days on Bill of Lading (B/L) date (one
day before, the day of B/L and the day after).

Discount: Buyer will have a Net Discount of US$ 6.00 per barrel.

Commission: $0.20 / BBL paid by the Seller as per FRA
(The Seller will pay $0.10 / bbls. to Buyer's Group and $0.10 / bbls. to Seller's Group.)

Financial Security: Bank Guarantee (BG) via SWIFT MT-760 covering the value
equivalent to one and half (1.5) months shipments value with a maturity of 1 year 45 days
Shipment Payment: MT-103 / TT equivalent to the volume of the Commodity shipped.

Performance Bond: Value at 2% of Bank Guarantee (BG) amount.

Shipping: Within sixty (60) working days after the verification, clearance
& acceptance of the BG & AVAL and as per the agreed on delivery schedule

Procedures: 1-Buyer accepts SCO and issue Letter of Intent, Company Profile & Bank RWA Letter. 

2- Seller issue Term Sheet, Buyer has to sign & return within three (03) days, otherwise it will expire. 

3- Within three (03) days of signing the Terms Sheet, Buyer has to pay Seller's Lawyer's / Legal Fee (directly to Seller's Lawyer's Account, Contract will be constructed as per the Terms Sheet). Seller's Lawyer's / Legal Fee will only be refunded to Buyer as per point # 6 herein. 

4- Lawyers to Lawyers Contract signing. 

5- Within five (05) working days of signing the Contract, Buyer's Bank will send to Seller's Bank a Bank Guarantee (BG) as per the Contract with maturity of 1 year 45 days. 

6- After receiving, verification, clearance and acceptance of the BG & AVAL as per the Contract, Seller's Bank will provide Performance Bond (PB), valued at 2% of BG amount and will also reimburse Seller's Lawyers Fee, which Buyer had paid as per point # 3 herein. 

7- Delivery starts within sixty (60) working days after the verification, clearance and acceptance of the BG & AVAL. 

8- Each delivery shipment will be paid via MT-103 / TT.

SPECIFICATIONS

ARABIAN LIGHT (ARABLT) CRUDE OIL

ARABIAN LIGHT (ARABLT) CRUDE OIL IN ACCORDANCE WITH THE INTERNATIONAL SPECIFICATIONS AND STANDARDS

API GRAVITY  33 – 34

SEDIMENT CONTENT 0.1

ASTM STABILISED GRAVITY 34.5

Wax – WT PERCENT 2.9

VANADIUM ppm V200 11.0

GROSS HEATING VALUE 19.23

REID VAPOUR PRESSURE 2.0

SALT CONTENT, PPM NaCl 3.8

SULPHUR, WT PERCENT 1.5 Max

ASH, PPM 100.0

COMP. CARBON RESIDUE. WT PERCENT 3.1

VISCOSITY, CP 55.0

POUR POINT 0.35