Mandate Status

Nigerian Oil Services is pleased to announce a mandate relationship with an allotment holder selling BLCO crude oil for the NNPC. What that means to qualified buyers, is that you can contact us direct and not have to work through long chains of agents to get an offer negotiated. Our seller is presently offering BLCO, 4 million barrels CIF ASWP to direct buyers or buyer’s mandates. Interested parties can go to NigerianOilServices.com and fill out the form to send you RFQs (request for quotes).

You will not get an empty contract. All offers come with ATS (authority to sell), POP (proof of product) and an Introduction Confirmation letter the partial text of which is included below:

INTRODUCTION/CONFIRMATION LETTER
One of our privileged allocation holders has requested us to introduce certain features of our oil transactions and delivery processes with you in order for you to make good business decisions before getting engaged in a long term contract.
Please note that the supply and demand trends in the petrochemical industry and high quality of our Bonny Light Crude Oil (BLCO), allow us to sell it at a premium price. Normally all NNPC sales are executed on CIF basis and every cargo has a payment guarantee (with blocked funds), associated with it before it gets loaded at the Bonny Terminal.
However, NNPC has privileged allocations’ program, which allows certain key individual allocation holders receive the BLCO at a special discounted price. The benefits of such discounts are normally shared with certain buyers who qualify for such special deals by our allocation holders.
Due to the large magnitude of the cash flow involved with aforementioned allocations, such transactions are usually undertaken by the allocation holders via their financing arm who are pre-approved by NNPC. Each allocation holder has its own financing arrangements. Once a contract is in execution and we have received the payment instrument for a given cargo against an allocation, we will deploy our ships to transport the subject crude directly to the destination of choice of the allocation holder. All our such allocations are automatically renewed and rolled over if any of our allocation holders have signed a long term contract with a pre-qualified buyer, for the entire duration of the contract.
I understand your esteemed organization is in the process of contracting with one of our such privileged allocation holders listed below. We are happy to confirm that the following company and its associated financing arm, also listed below, have been approved by us, NNPC and Federal Ministry of Petroleum and Gas of Nigeria. It is also hereby confirmed that we, NNPC, have duly approved his allocations for up to 10 million barrels of BLCO per month for the current quarter which are subject to extensions and roll over’s as described above:
We will advice all clients to follow the procedure of our allocation holder. NNPC never bend the rule of the lifting guild line. All refinery / crude oil trader have to abide to the rules and regulation.
Interested parties can go to NigerianOilServices.com and fill out the form to send you RFQs (request for quotes).