Sell Saudi Light Crude Oil (SLCO)

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The China Gate Group can today offer Saudi Light Crude Oil SLCO on primary or secondary contract from direct mandate, US$ enquire FOB
Quantity available today is up to 30,000,000bbls per month up to 60 month contract.

Procedures are as follows:
After receipt of acceptable LOI from end buyer with full soft probe authorization as per ARAMCO guidelines the seller will verify banking and submit for approval, then:

1. Seller or Seller's Mandate issues FCO on his letter head + FPA,

2. Buyer submits the following:

a. If buyer is a refinery:
(1) ICPO: must be as at format at Annex (C) .
(2) BCL: must be at format at Annex (B) .

b. If Buyer is Trader:
(1) ICPO: must be as at format at Annex (C) .
(2) BCL: must be as at format at Annex (B) .
(3) Crude Processing Agreement: Between Buyer and a Refinery.

c. Signed FPA: at Annex (D) if applicable.

3. Seller sends draft Sales Purchase Agreement (SPA) to Buyer for all necessary amendments and adjustments.

4. Buyer and End Seller signs and exchanges contracts.

5. Buyers bank issues non-operative Bank Guarantee in the amount of one months shipment value confirmed by and acceptable to the sellers bank.

6. Sellers bank issues pre-advice on 2% Performance Bond(PB) if applicable and provides Proof of Product(POP)

7. Buyers bank activates bank guarantee.

8. Sellers 2% Performance Bond(PB) is activated if applicable.

9. Shipment commences as per the agreed contract.

Previous Contract : it is recommended that the buyer to list his previous contracts
With ARAMCO if available.

It must be noted:
1. That ARAMCO will not allow to resell the crude to third party , in this case , traders have to show Crude Processing Agreement to explain relation between the buyer and refinery.
2. The quantity to be purchase must be similar to the total processing capacity of the Refinery / Refineries and duration depends on period of the Processing Agreement.
3. Those refineries who already are under purchasing contract with ARAMCO will not be allowed to inter into another quantity purchase contract with ARAMCO unless the contracted quantity is less than the refinery processing capacity , and only will be given the deference between new required quantity and total capacity taking in consideration undergoing contract quantity.

Attachments : all will be provided after proper LOI is submitted
Annex : A BCL.
Annex : B Crude Processing Agreement.
Annex : C Saudi Light Crude Oil Specification.
Brand Name
Supply Capacity
30,000,000bbls per month
Minimum Order Quantity
Terms of Payment
Terms of Sale