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ZADI LTD

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Introduce:: Commodity
Will be as per NNPC export grade specification, only water and basic sediment (B.S&W) ascertained at the port of loading shall be deducted in computing the net quantity of the Crude Oil loaded and certified in the Bill of Lading, as per the inspection certificate issued at the supply Port by SAYBOLT or SGS, which shall be final and binding upon the parties.

Technical specifications:

Specific Gravity (API) 37
Density at 20 degrees, CG.CM, max 0.85
Basic Salt Water (BSW) 0.6 % Vol
Color Dark Brown
Salinity PTD ATO, 10% BS&W 47 max
Acid Number 0.39
Reid Vapor 6.52 max (PS)
Water & Sediment % max 1.0
Iron, wt ppm 1.0
Vanadium, wt ppm 2.0
Nickel, wt ppm 4.0
Pour Point below 400 deg. F
Sulphur Content, % wt 0.14

All Parties agree to a tolerance level of plus or minus 5% - 10% for the result of the quality inspection unless otherwise stated. The Crude Oil to be supplied under the present agreement shall be in conformity with the specification above and the responsibility of the Seller and inspection at the port of loading.

If the specification of the product as per inspection for NNPC Export Grade fails to conform with the Bonny light Crude Oil specification, as agreed to in the contract, the price per barrel shall decrease by USD 0.02 (two United States Cents) for each 1/10th (one tenth) of a percent above 0.15% wt., Sulphur for the Crude Oil.

Quantity: Shipment of 2.000.000 million US barrels +/-5%-.

Destination: .

PRICE: USD$37.00 Flat.

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