This document is a product price list from Invista Investments dated July 2012 that lists pricing and terms for various petroleum products including D2 Gasoil, M100, JP54, D6 Virgin, D6 Blended, LPG, and LNG. The prices vary based on the destination (ASWP, Rotterdam, or Russia) and are listed per metric ton, barrel, or gallon. The document also provides procedures for entering long-term contracts or spot transactions.

1.
INVISTA INVESTMENTS
Registration
no:
2340
/
2004
Stand
Number
5348
Nkwisi
Gardens
Tynwald
Harare
Date:
JULY
2012
PRODUCT
PRICE
LIST
Minimum
Order
Product
Destination
Unit
Gross
Price
Net
Price
Maximum
Order
CIF
ASWP
MT
$740.00
$730.00
50,000
MT
per
Month
D2
GASOIL
FOB
ROTTERDAM
MT
$720.00
$710.00
1,000,000
MT
per
Month
FOB
RUSSIA
MT
$710.00
$700.00
CIF
ASWP
MT
$480.00
$470.00
200,000
MT
per
Month
M100
FOB
ROTTERDAM
MT
$460.00
$450.00
500,000
MT
per
Month
FOB
RUSSIA
MT
$450.00
$440.00
CIF
ASWP
BBL
$66.00
$56.00
2,000,000
BBL
per
Month
JP54
FOB
ROTTERDAM
BBL
$63.44
$53.44
5,000,000
BBL
per
Month
FOB
RUSSIA
BBL
$62.15
$52.15
CIF
ASWP
Gallon
$2.45
$2.40
75,000,000
Gallon/Month
$2.38
$2.33
D6
VIRGIN
FOB
ROTTERDAM
Gallon
150,000,000
Gallon/Month
FOB
RUSSIA
Gallon
$2.32
$2.27
CIF
ASWP
Gallon
$2.28
$2.23
75,000,000
Gallon/Month
$2.21
$2.16
D6
BLENDED
FOB
ROTTERDAM
Gallon
150,000,000
Gallon/Month
FOB
RUSSIA
Gallon
$2.15
$2.10
CIF
ASWP
MT
$590.00
$580.00
100,000
MT
per
Month
LPG
FOB
ROTTERDAM
MT
$570.00
$560.00
500,000
MT
per
Month
FOB
RUSSIA
MT
$560.00
$550.00
CIF
ASWP
MT
$650.00
$630.00
100,000
MT
per
Month
LNG
FOB
ROTTERDAM
MT
$630.00
$610.00
500,000
MT
per
Month
FOB
RUSSIA
MT
$620.00
$600.00
Note:
(1) Conversion
factor
from
Metric
Ton
to
Barrel
=
7.85
(2)
Conversion
factor
from
Metric
Ton
to
US
Gallon
=
302.6
(3) Presented
prices
can
be
modified
without
prior
notification
1
PRODUCT
PRICE
LIST
on
JULY
2012

2.
CONTRACT
PROCEDURE
1. The
BUYER
issues
LOI
2. The
SELLER
sends
FCO
3. The
BUYER
issues
ICPO
and
a
BCL
for
the
trial
shipment
plus
an
official
letter
of
acceptance
of
SELLER’s
terms
and
conditions
on
Buyer’s
letterhead
and
duly
signed
and
sealed;
The
trial
shipment
will
be
paid
directly
when
arrived
at
discharged
port
through
MT103
against
DTA,
SGS
and
shipping
documents.
4. SELLER
sends
to
BUYER
a
contract
for
review
and
amendment;
5. The
Parties
sign
and
seal
the
Contract
and
exchange
the
copies
electronically.
The
electronically
exchanged
copies
will
be
legally
binding
until
the
hard
copies
are
exchanged.
BUYER
and
SELLER
lodge
the
contract
and
NCNDA/IMFPA
to
their
respective
banks;
6. SELLER
send
to
buyer
verifiable
partial
POP
7. After
verification
of
partial
POP
and
within
maximum
5
(Five)
banking
days,
BUYER’s
bank
issues
an
irrevocable
bank
instrument
in
the
format
of
any
of
the
following
forms:
BG
or
MT760
or
SBLC
or
DLC.
The
amount
of
the
instrument
will
be
100%
of
the
monthly
shipment
value
of
the
contract
and
revolving
for
the
contract
duration.
In
return,
the
SELLER
provides
POP
to
BUYER's
Bank
(Copy
of
license
to
export,
issued
by
the
department
of
the
Ministry
of
energy,
Copy
of
approval
to
export,
issued
by
the
Department
of
the
ministry
of
Justice,
Copy
of
availability
of
product,
Copy
of
refinery
commitment
to
produce
the
product,
Passport
bargain
number,
Allocation
passport
certificate
issued
by
the
ministry
of
energy,
Copy
of
port
storage
agreement,
Copy
of
the
charter
party
agreement(s)
to
transport
the
product
to
the
discharge
port)
and
SELLER’s
bank
issues
a
2%
Performance
Bond
(PB);
8. The
SELLER
informs
the
BUYER
about
the
readiness
for
Shipment
of
monthly
consignment;
9. Shipment
commences
as
per
Contract;
10. The
SELLER
undertakes
delivery
in
accordance
with
the
Contract
terms;
11. For
every
delivery,
SELLER
issues
a
Commercial
Invoice
for
buyer’s
completion,
signature
and
return;
12. SELLER
supplies
SGS
Report,
Tank
Storage
Receipt
(TSR)
and
Dip
Test
Authorization
to
the
BUYER
when
the
shipment
is
at
discharge
port;
13. BUYER
verifies
documents,
dips
and
pay
immediately
by
agreed
instrument;
14. SELLER
transfers
Title
to
BUYER's
designated
Bank
after
confirmation
of
payment;
SPOT
PROCEDURE
1. BUYER
issues
LOI
2. The
BUYER
issues
LOI
3. The
SELLER
sends
FCO
4. The
BUYER
issues
ICPO
and
a
BCL
for
the
SPOT
shipment;
5. The
SELLER
issues
a
Commercial
Invoice
(CI)
for
signature
and
seal
by
the
BUYER;
6. The
BUYER
signs
and
seals
the
Commercial
Invoice
(CI)
and
returns
it
to
the
SELLER;
7. BUYER
and
SELLER
lodge
the
FCO,
CI
and
NCNDA/IMFPA
to
their
respective
banks;
8. SELLER
send
to
buyer
verifiable
partial
POP
9. After
verification
of
partial
POP
and
within
maximum
5
(Five)
banking
days,
BUYER
issues
an
irrevocable
bank
instrument
in
the
format
of
any
of
the
following
forms:
BG
or
MT760
or
SBLC
or
DLC.
The
amount
of
the
instrument
will
be
100%
of
the
spot
shipment
value.
In
return,
the
SELLER
provides
POP
to
BUYER's
Bank
(Copy
of
license
to
export,
issued
by
the
department
of
the
Ministry
of
energy,
Copy
of
approval
to
export,
issued
by
the
Department
of
the
ministry
of
Justice,
Copy
of
availability
of
product,
Copy
of
refinery
commitment
to
produce
the
product,
Passport
bargain
number,
Allocation
passport
certificate
issued
by
the
ministry
of
energy,
Copy
of
port
storage
agreement,
Copy
of
the
charter
party
agreement(s)
to
transport
the
product
to
the
discharge
port);
2
PRODUCT
PRICE
LIST
on
JULY
2012

3.
10. The
SELLER
informs
the
BUYER
SELLER
informs
the
BUYER
when
the
product
will
be
available
for
lifting;
11. SELLER
supplies
SGS
Report,
Tank
Storage
Receipt
(TSR)
and
Dip
Test
Authorization
to
the
BUYER
when
the
shipment
is
at
discharge
port;
12. BUYER
verifies
documents,
dips
and
pay
immediately
by
agreed
instrument;
13. SELLER
transfers
Title
to
BUYER's
designated
Bank
after
confirmation
of
payment;
NON
PERFORMANCE
PENALTY
CLAUSE
FOR
SPOT
OR
CONTRACT
IF
A
PARTY
CANNOT
PERFORM
AND
FULFILL
THE
ABOVE
REQUIRED
PROCEDURE,
AFTER
HAVING
SIGNED
THE
CONTRACT,
THERE
WILL
BE
A
PENALTY
OF
2%
(TWO
PERCENT)
OF
THE
TOTAL
SINGLE
SHIPMENT
PRICE,
PAYABLE
TO
THE
INJURED
PARTY,
CHARACTERIZED
BY
THE
FOLLOWING
SITUATION:
• SELLER
NON-­‐PERFORMANCE
OF
THE
DELIVERIES
AS
AGREED.
• BUYER
NON-­‐PERFORMANCE
OF
THE
IMPLEMENTATION
OF
THE
BANKING
INSTRUMENT
OR
NON-­‐
PERFORMANCE
OF
THE
FULL
PAYMENT
OF
THE
DELIVERED
GOODS
AS
AGREED
IN
CONTRACT.
IMPORTANT
NOTE
1. Please
not
that
the
Seller
procedures
are
NOT
NEGOTIABLE.
2. From
now
on,
if
an
ICPO,
LOI,
RWA,
or
BCL
is
issued
and
the
document
is
not
real,
the
Seller
will
inform
the
FBI,
ICC,
and
INTERPOL.
In
addition,
after
an
FCO
is
sent
to
the
Buyer,
there
should
be
a
formal
answer
to
Seller
from
Buyer.
3. Any
issued
SCO
or
FCO
will
be
addressed
only
to
the
buyer;
no
other
names
will
be
accepted.
In
case
of
fraudulent
usage,
the
soliciting
company
indicated
on
the
FCO
will
be
reported
to
the
FBI,
ICC,
and
INTERPOL.
4. Any
offer
(SCO,
FOC)
sent
by
the
seller
has
7
days
validity
from
date
of
issuing.
5. If
there’s
no
response
from
the
Buyer
in
a
timely
manner,
the
buying
company
will
be
reported
to
the
FBI,
ICC,
and
INTERPOL.
6. When
signed
by
both
parties,
Full
Corporate
Offer,
Commercial
Invoice
and
Contract
are
legally
binding
all
the
parties
as
per
the
terms
and
conditions
indicated
in
these
documents.
Any
non-­‐performing
buyer
will
be
systematically
reporting
by
the
seller
to
the
FBI,
ICC,
and
INTERPOL
7. Any
Buyer,
who
has
not
performed
according
to
expectation
on
Contract,
should
be
notified
that
in
the
next
7
days,
if
Seller
do
not
receive
the
Instrument,
will
not
no
longer
keep
the
Contract
open.
Seller
will
do
all
necessary
notifications
to
the
respective
Authorities
that
such
a
Contract
will
be
cancelled
between
the
said
Buyer
and
the
Seller.
3
PRODUCT
PRICE
LIST
on
JULY
2012

4.
D2
SPECIFICATION
The
SELLER
guarantees
to
the
BUYER
the
specification
for
the
goods
to
be
delivered
under
the
Contract.
The
specification
can
be
adjusted
as
per
buyer
requirement.
The
requested
adjustment
needs
to
be
confirmed
by
the
buyer
before
the
contract
signature.
COMPONENT
UNIT
TEST
METHOD
MINIMUM
MAXIMUM
Specific
Gravity
Kg/M3
160/D1298
0.8200
0.870
Density@20Deg
C
(15/15%C)
Colour
(ASTM)
-­‐
D150000
3
Max
Distillation:
Recovered@
v/v
123/D86
90Min
357*C%
Vol.
Final
*C
max
385Max
Boiling
Point
Flash
point,
mpcc
Deg
c
(
*C)
34/D93
66
92
Kinematic
viscosity
@20
*C
C
ST
34/D93
1.6
5.5
Pour
point
Deg
C
(*C)
219/D445
(*)
-­‐10.0
Cloud
point
DEG
C
(*C)
(*)
4.4
Mercaptan
sulphur
-­‐
x-­‐ray
-­‐
0.3
max
Acidity,
mg/
1000
cm3
-­‐
-­‐
Nil
Total
acid
number
g/100g
139/D974
-­‐
0.50
Ash
content
%
wt
4/D482
-­‐
0.01
Total
sulphur
%
wt
X
–
ray
0.00
0.05
Copper
corrosion
(3hr
@
100*C
3
deg
c
154/130
Typical
NO.
1strip
max
CCR
on
10%
Residues
%
wt
D189
-­‐
0.5
Diesel
index
-­‐
IP
21
47
-­‐
Water
by
distillation
sediment
%wt
74/D95
53/473
0.05%
0.01
4
PRODUCT
PRICE
LIST
on
JULY
2012

5.
JP54
SPECIFICATION
The
SELLER
guarantees
to
the
BUYER
the
specification
for
the
goods
to
be
delivered
under
the
Contract.
The
specification
can
be
adjusted
as
per
buyer
requirement.
The
requested
adjustment
needs
to
be
confirmed
by
the
buyer
before
the
contract
signature.
5
PRODUCT
PRICE
LIST
on
JULY
2012

6.
D6
VIRGIN
PRODUCT
SPECIFICATION
The
SELLER
guarantees
to
the
BUYER
the
specification
for
the
goods
to
be
delivered
under
the
Contract.
The
specification
can
be
adjusted
as
per
buyer
requirement.
The
requested
adjustment
needs
to
be
confirmed
by
the
buyer
before
the
contract
signature.
SPECIFICATIONS
D6
LPFO
• ASTM
D5002
-­‐
Density
and
Relative
Density
of
Crude
Oils
o Average
API
Gravity
29.7
(29.7)
(Min)
API
• ASTM
D1298-­‐99
o Density@15
Deg
C
0.87
(0.8775)(Max)
Kg/t
• ASTM
D97
-­‐
Pour
Point
of
Petroleum
Products
o Pour
Point
<
-­‐33
(-­‐36)
(BELOWZERO)
°C
o Pour
Point
<
-­‐27.4
(-­‐32.8)
(BELOWZERO)
°F
• ASTM
D93
–
IP
34
-­‐
Pensky-­‐Martens
Closed
Cup
Flash
Point
o Corrected
Flash
Point
117
(137)
(MIN)
°F
• ASTM
D4294
-­‐
Sulphur
Content
in
Petroleum
Products
by
ED-­‐XRF
o Sulphur
Content
0.38
(0.358)
(MAX)
Wt%
• ASTM
D445
-­‐
Kinematic
/Dynamic
Viscosity
o Kinematic
Viscosity@122
°F/
50°C
17.83
(18.12)
(MAX)Mm2/s
• ASTM
D6304
-­‐
Water
Content
by
Coulometric
-­‐
Karl
Fisher
Titration
o Water
Content
0.20
(0.7)
(MAX)
Wt%
• ASTMD95
Water
by
Distillation
o Vol
%
0.70
(MAX)
• ASTM
D482
Ash
from
Petroleum
Products
o Average
Ash
0.279
(1.007)
(MAX)
Wt%
• ASTM
D2161
Conversion
of
Kinematic
Viscosity
o To
SUS/SFS
1
Saybolt
furoi
viscosity
122°F
10.9SFS
(MAX)
• ASTM
D5184
Aluminium
and
Silicon
in
Fuel
Oils
by
ICP-­‐AES
or
AAS
o Aluminium
Content
102
(MAX)
Mg/kg
o Silicon
Content
93
(MAX)
Mg/kg
• ASTMD4530.06
o Carbon
Residue
1.11
(MAX)
Wt%
6
PRODUCT
PRICE
LIST
on
JULY
2012

7.
MAZUT
Generic
PRODUCT
SPECIFICATION
The
SELLER
guarantees
to
the
BUYER
the
specification
for
the
goods
to
be
delivered
under
the
Contract.
The
specification
can
be
adjusted
as
per
buyer
requirement.
The
requested
adjustment
needs
to
be
confirmed
by
the
buyer
before
the
contract
signature.
Specifications
for
HEAVY
FUEL
OIL/
MAZUT
M100
(GOST
10585-­‐75)
COMPONENT
RESULT
1
Ash
content,
not
more
%
0.14
2
Mass
fraction
of
sulphur,
not
more
%
-­‐low-­‐sulphur-­‐residual-­‐oil
0.5
3
Temperature
of
the
flash,
not
less
deg.
C
in
the
closed
crucible
110
min
4
The
temperature
of
solidification,
not
higher
C
25
5
Kinematics
viscosity
118
max
6
Water
content
%
0.5
7
Mechanical
impurities
lower
than
%
0.1
8
Acidity
lower
than,
mg/KOH/100ml
5
9
Alkalinity
nil
10
Gross
calorific
value
Kcal/kg/KJ/kg
9700/41300
min
11
Density
at
20
deg.
C/Kg/l
0.8900-­‐0.9200
12
Hydrogen
Sulphide
Content
(H2S)
ppm
0.5
max
13
Carbon
residual,
lower
than
%
7
14
Vanadium
(V)
ppm
23
15
Aluminium
(Al)
ppm
5
16
Silicon
(Si)
ppm
12
17
Nickel
(Ni)
ppm
29
18
Asphaltense
m/m,
%
4
19
Distillation
@
4
mm
Hg
Extracted
to760
mm
Hg
Initial
Boiling
Point
deg.
C
216
5%
recovered
deg.
C
259
10%
recovered
deg.
C
310
20%
recovered
deg.
C
358
30%
recovered
deg.
C
445
40%
recovered
deg.
C
502
50%
recovered
deg.
C
534
60%
recovered
deg.
C
538
75%
recovered
deg.
C
545
80%
recovered
deg.
C
-­‐
95%
recovered
deg.
C
550
Final
Boiling
point
deg.
C
560
Percent
recovered
Vol
78%
Residual
Vol
22%
Total
nitrogen
m/m
0.192%
20
Sodium
(Na)
ppm
15
7
PRODUCT
PRICE
LIST
on
JULY
2012

8.
LNG
SPECIFICATION
The
SELLER
guarantees
to
the
BUYER
the
specification
for
the
goods
to
be
delivered
under
the
Contract.
The
specification
can
be
adjusted
as
per
buyer
requirement.
The
requested
adjustment
needs
to
be
confirmed
by
the
buyer
before
the
contract
signature.
LNG
-­‐
TYPICAL
SPECIFICATIONS
RUSSIAN
ORIGIN
LIQUEFIED
NATURAL
GAS
GROSS
HEATING
VALUE
(VOLUME
BASED)
• Minimum:
1050
Btu/SCF
• Maximum:
1170
Btu/SCF
HYDROCARBON
COMPOSITION
AND
NITROGEN
CONTENT
WITHIN
THE
FOLLOWING
RANGE
• Methane:
85.00
MOL
%
Minimum
• Butanes
and
Heavier:
2.00
MOL
%
Maximum
• Pentanes
and
Heavier:
0.10
MOL
%
Maximum
• Nitrogen:
1.00
MOL
%
Maximum
IMPURITIES
WITH
THE
FOLLOWING
RANGE
• Hydrogen
Sulphide:
4.8
MG/Nm3
Maximum
• Total
Sulphur:
21.0
MG/Nm3
Maximum
8
PRODUCT
PRICE
LIST
on
JULY
2012