Nigerian Bonny Light Crude Oil (BLCO)
NNPC Export standard
12 Million Barrel Nigerian Bonny Light Crude Oil (BLCO)
Shall mean China Inspection and Quarantine Bureau
Specific Gravity at 15⁰c, kg/1 ASTMD1298/P 0.8397-0.8498
API at 60 Degrees F ASTM Table 51 33-37
Salinity ASTMD 4006/1P 358 4.7P.T.B @ 60 Degrees F
Color Dark Brown
BS & W Content [Vol. %] ASTMD 473/1P 53 0.25 Average
Sulfur %WT ASTMD 0.14% wt
Pour Point Degrees F ASTMD 97/1P.15 40º [F] Degrees F
Water Content: 0.2% Vol. Max
REIB Vapor Pressure: 6.52PSIG
ARTICLE 3O:PROCEDURE STORAGE
1 SELLER AND BUYER SIGN SPA
2 SELLER PROVIDES POP
3 BUYER PLACES MT103 OR BUYER PAYS $250000 TO OBTAIN ATB/CLEARANCE/BOARDING OF INSPECTOR TO DO Q&Q
4 SELLER ISSUES AUTHORISATION TO BUYERS INSPECTORS TO DO Q&Q.
5. Buyer immediately perform within 24 hours Q&Q on the product in designated tanks by SGS, CIQ or an equivalent inspection agency or company that the Buyer and Seller agree upon. Buyer sends copies of the Q&Q report to the Buyer's bank and to the Seller, and the Seller sends copy to the Seller's nominated bank.
6. Buyer makes full payment
7. Buyer transfers crude oil from storage tanks to Buyers facilities and payment release.