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QUALITY AND GRADE OF Nigeria Bonny Light Crude Oil

The quality and grade of Oil offered by Seller and accepted by Buyer under this contract shall comply with NNPC EXPORT STANDARD GRADE and NNPC TECHNICAL SPECIFICATIONS for BLCO.

​SPECIFIC GRAVITY:​​​​ 0.8398

API AT 60 DEG. F:​​​​​37.00 +/-5% (ASTM D-1298)​
WATER CONTENT BY DISTILLATION​​0.2% (ASTM D-4006)
​POUR POINT DEGREES F:​​​BELOW 40 (ASTM D-97)
​SULFUR WEIGHT %:​​​​0.14​(ASTM D-139)
​SALT CONTENT PARTS PER BILLION:​3.0​(ASTM D-526)
​REID VAPOR PRESSURE (P.S.I.G)​​​6.52​(ASTM D-529)
​KINEMATIC VISCOSITY @ 30 DEG. C:​​2.2​(ASTM D-523)
​DISTILLATION INITIAL BOILING POINT (IBP)​35 DEG.C (ASTM D-86)
​DISTILL TO 75 DEG. C VOL. %​​​​7.0
​DISTILL TO 175 DEG. C VOL. %​​​​35.5
​DISTILL TO 250 DEG. C VOL. %​​​​51.5
​DISTILL TO 300 DEG. C VOL%​​​​60.5
COLOUR -​​​​​​Dark Brown

PRICE

The price to be paid shall be based on the loaded quantity of Crude Oil for each shipment based on standard barrels and under “Dated Brent” as in the Platt’s Oil Gram Report.  The applicable currency in respect of payment for the Cargo shall be USD.  The price shall be calculated on the three (3) days average mean quotation, one day before the date of loading the day of loading, and the day after day of loading. The Discount should $10 less