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.