SLCO is a Crude Oil product. Key specs — Origin: United States.
Product Description
Model No.: Product Origin: Brand Name: Price Terms: Payment Terms: Certification: Description:We are direct to sellers:Saudi light crude oilOrgin: Kingdom or saudi arabiaQty:50 million bbl monthly (12,36, or 60) contract.Delivery scdehule: Minimum 40million bbl monthly til contracted qty has been delivered.Quality: Standard for export as per annex attached.Price: Based on dubai platt oil market wire published posted price.Discount: Gross $8 net $4Delivery: FobPayment: Payment for each cargo shall be effected by means of an irrevocable, transferrable, revoloving, confirmed, documentary letter of credit (lc) to the value of one months shipments value confirmed by top 25 world prime bank and revolving for entire contract period.Performance bond: Aramco does not givePerformance bond.Procedures:1.
Buyer issues his loi2. Seller issues fco.3. Buyer submits the following:A. If buyer is a refinery:1. Icpo must be as at format at annex as per attached.2. Bcl must be at format at annex b as per the attached.B. If buyer is a trader:1. Icpo must be as a format at annex c as per attached.2. Bcl must be as at format at annex b as per the attached.3.
Crude processing agreement: Between buyer and a refinery.C. Signed fpa: As at annex c.4. Seller sends invitation to sign the contract at end sellers (aramco) office.5. Buyer and end seller signs and exchanges contracts at ttm at aramco office (saudi arabia or usa).6. Shipment commences as per the agreed contract.
