Commodity

Light Crude Oil and/or Heavy Crude Oil

Origin

Oman (Sultanate of Oman)

Specification

Upon Request

Quantity

8,000,000 barrels per month x 12 months with rolls and extensions of Light Crude Oil and / or Heavy Crude Oil. (Quantity at the starting shipment: 2,000,000 barrels or 4,000,000 barrels)

Delivery terms

FOB Duqm port or Muscat port in Oman

Payment terms

Irrevocable, Non-Assignable, Non-Divisible, Non – Confirmable, Revolving Documentary L/C.

Performance bond

2% of the faced value of the DL/C.

Inspection

SGS or equivalent at loading port at seller’s cost.

This LOI is valid for 15 days from the date of issuing.