Procedures - Bonny Light Crude Oil

PROCEDURES FOR NNPC FOB NOMINATIONS, SHIPMENT & PROCEDURES

  1. Seller and Buyer signs SPA and deposit same at transacting banks
  2. Buyer returns signed  SPA along with valid CPA, Q88, ATL and chartered invoice receipt OR proof of ownership in lieu of CPA
  3. Buyer writes NNPC, Bonny terminal for PLR / POP ( to include Laycan date) to be issued in buyer’s name for buyer to raise their financial instrument (draft letter available upon request)
  4. Upon successful THOROUGH due diligence on all PLR/PoP documents through either or all channels:
    1. NNPC LONDON
    2. SHELL SCREEN LONDON (BUYER`S REFINERY)
    3. NNPC TOWERS: ABUJA
    4. NNPC OFFICE: BONNY TERMINAL
  5. Buyer`s bank swift full financial instrument into NNPC account for programming, inward vessel clearance, loading logistics etc.
  6. Seller (NNPC Terminal) upon receipt and confirmation of instrument within seven (7) working days programme buyers vessel, confirms Laycan and gives buyer Captain  ETA..
  7. Seller (NNPC) clears in buyer’s vessel to berth and loads the vessel.
  8. Buyer captain issue ATB for buyer inspector / super cargo to conduct Q/Q at the loading terminal
  9. Upon completion and satisfaction of conduct of Q&Q, buyer bank make payment via MT103
  10. Seller (NNPC) give all loading documents in buyers name to Captain
  11. Vessel is cleared for voyage

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