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Uruk Loi 2 Mil 1 - 230709 - 130739

Uruk Oil & Gas expresses interest in purchasing 2,000,000 barrels per month of blended light crude oil from Petro Trade. The letter outlines specifications for the crude oil, delivery terms of FOB Tank Fujairah Port UAE, payment by letter of credit or MT103, a price of $17 below benchmark, and inspections by SGS. A procedure for signing sales agreements, product delivery, vessel nomination, inspection, payment, and documents is also defined. Uruk requests that Petro Trade agree to the conditions and provide a signed sales and purchase agreement.

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470 views6 pages

Uruk Loi 2 Mil 1 - 230709 - 130739

Uruk Oil & Gas expresses interest in purchasing 2,000,000 barrels per month of blended light crude oil from Petro Trade. The letter outlines specifications for the crude oil, delivery terms of FOB Tank Fujairah Port UAE, payment by letter of credit or MT103, a price of $17 below benchmark, and inspections by SGS. A procedure for signing sales agreements, product delivery, vessel nomination, inspection, payment, and documents is also defined. Uruk requests that Petro Trade agree to the conditions and provide a signed sales and purchase agreement.

Uploaded by

shahram kiaa
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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URUK OIL & GAS GROUP

Add : Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE.

Ref :Uruk - 88018


Date :09 .07 2023
LETTER OF INTENT

TO : PETRO TRADE

WE ARE URUK OIL & GAS REGISTERED OIL COMPANY IN UAE HEREBY THAT WE HAVE
AN INTERESTED RELIABLE AND CAPABLE CLIENT AS BUYER FOR BLENDED LIGHT CRUDE OIL WITH FULL
CORPORATE RESPONSIBILITY THAT WE ARE READY, WILLING AND ABLE TO PURCHASE THE PRODUCT
SPECIFICATION AS ATTACHED,

1 PRODUCT : BLENDED LIGHT CRUDE OIL


2 QUANTITY : 2,000.000 BBL PER MONTH X 12
3 SPECIFICATION : AS ATTACHED
4 DELIVERY : FOB . TANK FUJAIRAH PORT UAE
5 PAYMENT : LC / MT 103
6 PRICE MINUS $17 BBL FINANCIAL ABILITY WILL BE SHOWN IN YOUR DUBAI OFFICE
7 INSPECTIONS : SGS FOR QUANTITY AND QUALITY

PROCEDURE AND PAYMENT TERMS


Payment: BY MT 103, NOT LATER THAN 24 HRS AFTER SUCCESSFUL SGS
REPORT AT FUJAIRAH PORT FOR THE TRIAL LOAD.

9. Procedure:
9.1. Seller and Buyer sign and seal the SPA and exchange CIS, then the
contract is logged to the relevant banks.
9.2. Seller sends PI to the buyer to sign, seal it and returns it back to
the seller.
9.3. Buyer provides the Seller with his CPA confirming his readiness.
9.4. Within 7 working days, seller arranges to have the product ready
in the tanks in Fujairah and provides the buyer with the following
documents
1) - TSR.
2) - Injection Report.
3) - ATV.
4) - Fresh SGS (not older than 2 days)
5) - Certificate of Origin.
6) - Title documents or ATS.

Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE


Tel: 00971589933872 / 00971581386158 / 00971543136246
[email protected] www.urukoilgp.com
URUK OIL & GAS GROUP
Add : Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE.

9.5. Buyer nominates the vessel and forwards the vessel particulars
such as Q88, laycan period, master name and contact, etc. to the
Seller. The buyer shall also appoint his local agent/representative to
coordinate the legal procedure
9.6. The seller must confirm the specifications of the ship announced
by the buyer from the loading port and inform the buyer along with
the exact laycan.
9.7. Seller nominated the loading port and the loading tank number to the
buyer.
9.8. Buyer bank must provide the Declaration of financial ability of
the buyer to the seller's bank via MT199 POF+ RWA (READY WILLING
AND ABLE WITH FULL BANK LIABILITY).
9.9. Buyer arranges with SGS or a similar company to test and seal
the reserve tank until the announcement of the result and loading,
on buyer’s cost (SELLER OR SELLER’S REPRESENTATIVE HAS THE RIGHT
TO WITNESS THE INSPECTION)
9.10. Seller provides the Buyer with the following documents and will
announce the exact time of providing the product in tank not more
than 10 working days after fulfillment of the above items. The
document that will be presented for loading:

9.11. After successful SGS report of the sealed tank the buyer will
transfer the 100% amount of the spot cargo (first shipment) to the
account of the seller not later than 24 hours. The loading of the first
vessel is conditioned to the bank confirmation of receiving the full
cargo amount.
9.12. In the event payment due date falls on a banking-day holiday
other than Monday, then in such event, payment shall be effected on
the preceding banking day.
9.13. Buyer shall instruct his bank to advise Seller’s bank by Swift or
tested telex, quoting the date of the transfer, the amount, the invoice
number, and the clearing bank, if any. Such advice is to be sent in due
time in order to enable Seller’s bank to credit Seller with value on the
due date.
9.14. Each Party shall be responsible for his bank charges

Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE


Tel: 00971589933872 / 00971581386158 / 00971543136246
[email protected] www.urukoilgp.com
URUK OIL & GAS GROUP
Add : Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE.

IF YOU ARE AGREE TO THE ABOVE – MENTIONED CONDITIONS PLEASE FEEL FREE TO SEND US
( FCO ) AND A DRAFT OF THE SALES AND PURCHASE AGREMENT PROCEDURE ( SPA ) OFFICIAL SIGNED AND
SCALED INCLUDING DELIVERY SCHEDULE SHOULD BE SEND BY E- MAIL

HUSSAIN JABR
C.E.O. URUK OIL & GAS CO

Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE


Tel: 00971589933872 / 00971581386158 / 00971543136246
[email protected] www.urukoilgp.com
URUK OIL & GAS GROUP
Add : Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE.

BLENDED LIGHT CRUDE OIL GENERAL PROPERTIES

CHARACTERISTICS UNITS RESUL TEST


T METHOD
Specific Gravity @ 15.56/15.56
--- <1 ASTM D5002
o
C
API Gravity *API < 38 ASTM D5002
Sulphur Content (Total) wt.% < 1.8 ASTM D4294
H2S Content Ppm < 100 IP 570
Mercaptan Content Ppm < 80 UOP 163
Nitrogen Content (Total) wt.% 0.13 ASTM D5762
Water & Sediment vol.% < 0.05 ASTM D4007
Water Content vol.% < 0.025 ASTM D4006
Salt Content PTB 8 ASTM D3230
o 2
Kinematic Viscosity @ 10 C mm /s 19.50
Kinematic Viscosity @ 20 C o
mm /s 2
10.88 ASTM D445
Kinematic Viscosity @ 40 oC mm2/s 6.319
Pour Point (Upper) o
C - ASTM D5853
12
Reid Vapour Pressure Psi 8.95 ASTM D323
Asphaltene Content wt.% 1.6 IP 143
Wax Content wt.% 4.8 BP 237
Drop Melting Point of Wax o
C 57 IP 133
Conradson Carbon Residue wt.% 4.50 ASTM D189
Total Acid Number mg 0.12 UOP 565
KOH/g
Nickel Content mg/kg 11
Vanadium Content mg/kg 40
Iron Content mg/kg <1
Lead Content mg/kg <1 ASTM D5863
Sodium Content mg/kg 8
Zinc Content mg/kg <1
Copper Content mg/kg <1
Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE
Tel: 00971589933872 / 00971581386158 / 00971543136246
[email protected] www.urukoilgp.com
URUK OIL & GAS GROUP
Add : Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE.

Sheikh Zayed Road Business Center Building No 4 office 8 Dubai UAE


Tel: 00971589933872 / 00971581386158 / 00971543136246
[email protected] www.urukoilgp.com

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