The document provides specifications for Saudi Arabia Light Crude Oil, including details on API gravity, sediment content, wax percentage, vanadium and sulfur content. It also outlines the standard procedures for purchasing Saudi Light Crude Oil, which involves the buyer issuing a purchase order and proof of funds, the seller providing an offer and later a performance bond, and documents to protect commissions for intermediaries. Delivery of the oil then begins according to the contract schedule.

1. Saudi Arabia Light Crude Oil
SAUDI LIGHT CRUDE OIL SPECIFICATION
API GRAVITY: 33 – 34
SEDIMENT CONTENT: 0.1
ASTM STABILIZED GRAVITY: 34.5
WAX – WT PERCENT: 2.9

2. VANADIUM PPM V200: 11.0
GROSS HEATING VALUE: 19.23
REID VAPOUR PRESSURE: 2.0
SALT CONTENT, PPM NaCl: 3.8
SULPHUR, WT PERCEN: 1.5 Max
ASH, PPM: 100.0
COMP. CARBON RESIDUE, WT PERCENT: 3.1
The Procedure of Saudi Arabia Light Crude Oil
PROCEDURES
1. Buyer issues an ICPO, LOI, and BCL with right to soft probe.
2. Seller issues FCO for buyer review sign, seal and return FCO with a letter of acceptance.
3. Seller issues Draft Contract for buyer review and sign, seal and return
4. Seller signs, seals hard copies contract sends 3 copies to buyer.
5. Both parties lodge the signed contract to their respective banks.
6. Upon receipt of buyer’s POF, Seller shall issue POP BANK TO BANK
7. Buyer issues BANK to BANK pre advice or Irrevocable Non Operative DLC to seller’s bank
and within 7 international banking days seller issues Performance Bond.
8. NCNDA-MFPA issued by end Seller to be signed by all intermediaries/brokers and End
buyer then legalized and endorsed by the End Sellers’ bank.(to guarantee commissions
to all brokers)
9. Delivery of product commences as per schedule in contract.
KEY:
ICPO – IRREVOCABLE CORPORATE PURCHASE ORDER
LOI – LETTER OF INTENT
BCL – BANK CAPABILITY LETTER / BANK COMFORT LETTER
FCO – FULL CORPORATE OFFER
PB – PERFORMANCE BOND
IRDLC – IRREVOCABLE DOCUMENTARY LETTER OF CREDIT
POF – PROOF OF FUNDS
POP – PROOF OF PRODUCT
NCNDA – NON CIRCUMVENTION NON DISCLOSURE AGREEMENT
MFPA – MASTER FEE PROTECTION AGREEMENT

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Contact
TINSEL CARGO & OIL COMPANY
COMMERCE HOUSE
3RD FLOOR, SUITE 311,
MOI AVENUE, NAIROBI.
P.O. BOX 79456-00200 NAIROBI, KENYA
TELE FAX: +254-20-2229781,
Cellphone: +254-722-761587,
+254-734-939308
Website: www.tinselcargo.com
EMAIL: info@tinselcargo.com