GENUINE NIGERIA CRUDE OIL SALES PROCEDURE

We know you might find the message below very long but its from our direct seller. we deal directly with this seller although we have access to other sellers who have different procedures and think they can get a buyer loaded vessels. now, our direct seller authoritatively told us that there are no loaded cargo anywhere to choose and pick. all loaded vessels are financially committed to a buyer.

NNPC has more than 30 vessels in the high seas between Cameroon/republic of Benin/Togo/Ghana international waters NNPC loads many vessels a day from their various terminals . so you must expect buyer’s vessels from normal monthly routine OPEC allocation lifters & jvo lifting to send their vessels to be around the terminals in Nigeria. some are loaded and some are not. the loaded ones are either waiting for documentations from NNPC, or waiting for bunker in readiness to sail out.- while the empty ones are waiting to be called in for loading or to be programmed for loading. it may look like a supermarket display but they are not. so, you cannot shop around them. reason??? they are very heavily guarded and window shopping is fraud!!!! you cannot go near to pick , and choose. each of those vessels are chartered by a buyer or NNPC & has minimum of 30 people on board each .

Be warned: there is no vessel park anywhere in the high sea.

It is purely a futile exercise to start looking for any docs on these vessels,q88, crew list, cargo docs e.t.c. because a charter had been placed on them before setting to sail to nigeria. you cannot call a vessel you do not own, or a vessel you have not chartered. this is why the fraudsters have a chance on gullible and unsuspecting buyers. the only authority that can tell you the status of each vessel is the bonny terminal, where they all report to days ahead -before entering Nigerian waters. scammers do get some cargo docs from unscrupulous terminal staff even after the vessels have sailed out of Nigerian waters, or from shipping agents or sometimes manufacture them from computers to defraud ignorant buyers . as at today, there are more than 45 vessels around but none and i repeat none!!!! is on display and any cargo docs including sgs not authorized from the terminal are fake…..

So one needs to be very careful.. it is impossible to go near any of those vessels without problem with Nigerian navy that oversees the security of the waters. 99% of the cargoes in the vessel have owners. and there is no short cut to the selling process.

-----------------------------------------------------------------------------------

You cannot but pass through NNPC for any information and documentations on each of those vessels---- no short cut!!!!!!!!!!! my advise is, if you need any cargo documents, and this include sgs report -, it is only NNPC that can point those vessel to be used for spot deals, and you

must be committed financially or with instrument before you can get what you need. it is not a coupon paper and it is not free it is not an issue of what was photographed in the high seas at Cotonou/Togo/Cameroon/Ghana.

------------------------------------------------------------------------------

again as stated in the mail below, buyer’s request is unending. this is 100% fact, because since loaded vessels are documented in a buyer’s name and questions must be asked why it is been re-sold, and you can never confirm it with NNPC- because you have no locus standi to be answered by any official unless you paid for yours.

--------------------

From the above what buyers need is the cargo content and not the vessel my advise is follow due process and you will get cargo direct from us on TTO/TTT through NNPC, but it will be impossible to confirm the vessels as they are all under charter from buyers or NNPC fleet. you can also get cif---

It all depends on what you want for your buyer.  Remember, without commitment, forget internet and seaman's information. you either do pay as you go –to get cargo documented in your buyer's name before the vessel sails out to your q an q location for inspection under cover of NNPC , or you out-rightly issue instrument to us to give you cargo on any lift you desire, fresh or loaded.

thanks nb: harbor master in Cotonou has no business with cargo but vessels in case of emergency as maritime responsibility demands, on safety and national security. it is very difficult, if not impossible, to get an OPEC allocation. the truth is that all allocations are sold out. your best bet is with NNPC-jvo (joint venture operations), and your POF (proof of funds) or acceptable instrument must be established before anything, as a first step. n.b: POF (proof of funds)=POP (proof of product) bond issuance banking and performance bond upfront.

performance bond is meant to compensate and guarantee buyer against non performance in contract and loss of money incurred against issuance of payment instrument. in this industry and according to iicc-2000, buyer is mandated to give proof of funds and show his financial capability before POP is issued in his favor. it is very abnormal in any contract for a buyer who has not shown his financial capability to demand for performance bond upfront .- to bond what?????

how can a seller be asked to issue pb upfront??? when the bond is supposed to activate a non operative instrument, which in this case will be non existent. the verbiage of pb must be related to the non operative instrument of buyer –with details of transaction and services. it is instructive to note that hence the signed contract will be deposited at the bank of seller and buyer, banking responsibility demands that communication between seller and buyer’s account officers can clarify and affirm the seller’s ability of placing the bond whilst the buyer is establishing his instrument.

We are of a strong opinion that it is only brokers or intermediary with ignorance of banking regulations that will be asking for this, only for an ulterior motive and a selfish reason, and not a genuine demand from a financially capable serious buyer. finally, seller does not and cannot issue a performance bond upfront for the following reasons:

1) It is meant to activate an original and existing instrument

2) The documentation will be incomplete because details of main l/c must be stated

3) It can be used for fraud if vital information are not stated

4) Seller’s contract in this regard is non negotiable.

5) It is inappropriate and irregular in banking operations. i have attached seller procedure in this mail as well as the discounts. please note that as far the discount stated in the offer are concerned,

***the buyer must issue loi (letter of intent) stating that they have agreed to the procedures and are ready to sign a contract. this is the only way the spa (sale and purchase agreement) will be released.

WRITTEN BY

 ABAYOMI OLATUNBOSUN &

JUBRIL SMITH