- Bonny Light Crude Oil -

LOI Format for Bonny Light Crude Oil CIF/FOB:

The letter does not have any specific format but should be addressed and
have these as it's main points:

       a). The LOI must be on the Buyer's Letter head. It cannot be signed
             and sealed by agent (ONLY buyer).

       b). The LOI should be addressed as follows with 14 days validity:

              Group General Manager (GGM),
              Crude Oil Marketing Division (COMD),
              Nigerian National Petroleum Corporation (NNPC),
              NNPC Towers,
              Central Area, Abuja, Nigeria.
              Attention : Alhaji Aminu Babakusa.

       c). It must state the following:

              -Quantity
              -Target Discount
              -Duration
              -Destination
              -Total commission $ 3.00
              -Seller's Side $1.50(Seller's Agent $1.00, Seller's Intermediary $0.50)
              -Buyer's Side $1.50 (Buyer's Agent $1.00,Buyer's Intermediary $0.50)

       d). Signed and sealed by the buyer.

       e). Saved on PDF.