Bonny Light Crude Oil

Product Transaction

Product is of Nigerian Origin and our sources get it from Shell and NNPC, Focardos from Chevron. The standard quantity our sources tend to offer is 2 million barrels, but we can offer more and less of that amount. We would strongly review the offered procedure of the buyer but it should be noted that if buyer doesn't want to give instrument but can show proof of funds, then it can be done on Ghana waters, vessel can be loaded. If to be done on Nigerian waters, then buyer has to issue an instrument such as MT799 or MT760. Below is how we tend to operate but of course, we are open to reviewing and negotiating other procedures:

Supplier would give 2% on pre advice to activate buyer's instrument, so we give PB first before buyer issues instrument which assures the buyer that product is available and we can deliver. If buyer wants CIF to Europe or Rotterdam then the buyer would give pre advice to RBS London, the supplier’s financiers bank(where all Proof of Funds and instruments goes through) and then supplier loads within 5 days. Seller gives 2% PB to trigger issuance by buyer's bank.

We cannot give POP without loading product first as we load product after getting assurance from the buyer. Our supplier gives a discount of $2 or $3 maximum.

Product Description

A high grade Nigerian crude oil, Bonny Light Crude Oil also known as BLCO is a highly desired grade of crude oil due to its low corrosiveness to refinery infrastructure and the low sulfur.