Register to Buy BLCO from Verified Sellers

This article is to help inform a real buyer of the registration procedure required to be able to start the buying process.
If you are a buyer wishing to Buy BLCO from Verified Sellers these are the procedures:

State first in an email with full company details and  buyer's details (if different)  indicating your requirements.

State Requirements as applicable.

Single Purchase(Spot) include number of barrels
Monthly Contract Include the monthly amount in Barrels
Type of Contract : CIF, TTT, TTO, FOB
If CIF, Destination Country

i.e.: We want 2 M bbls per month CIF to Rotterdam $6 net to the buyer.

We will take it from there and match you up with a seller.

We will advise you of availability. At the present time  we have 5 different NNPC Approved Fiduciaries.  We are not the exclusive seller for these people so this amount available at a given time is obviously going to be reduced, without notice, as these Fiduciaries sell product.

Each seller has every right to sell via the price and procedure and the price is normally set by Brent.

You should know that product coming out of Nigeria is in high demand, being the best crude choices in the world, “Brent vs BLCO“. Nigeria has many refineries that are already buying stock at full price via OPEC transactions. We deal exclusively in Off-OPEC where the product is offered at current market levels based on Brent with a discount BUT the Seller’s side is ALWAYS CLOSED.

That means every agent in the deal is on the buyer’s side (that includes you and anyone behind you ). The Sellers pay us on the sellers side for the marketing and negotiation services we render them. If that is unacceptable to the buyer or the buyer’s mandate they can apply for the bidding process and buy via OPEC at full price next year or try their luck with another NAF where the seller’s side is most likely also closed. This is just the results of a free market offering. There should almost always be $1 open on the buyer’s side, usually more.

Now this leads to another conclusion. We only want to work with a buyer, a buyer’s mandate or an agent direct to the mandate or buyer; more people than that and it is just too cumbersome to get the deal done. Please remember, this is a business where you are doing all the work on the front end and once the work is done you are paid over and over again without further labour involved.

We will work out the basic details of the purchase through agents to define price, procedures and commissions. All of this can usually be done via email. Once agreed upon, we will do the next step, which is to send the SPA with bank instrument verbiage. Once the buyer’s bank has approved the verbiage we have essentially a pre-qualified buyer. Please review the importance of this step in this article about POF Importance.

We don’t need an NCND.  The reason we do this is for everyone in the deal to know who gets what and to define honourable behaviour and to act in a clear and transparent manner.  Normally IMFPA is included in the SPA which includes commission details.  Otherwise sign an NCND/IMFPA this document is emailed to the person closest to us in the chain. Each signs and forwards to to the next person until it arrives at the Buyer. The buyer then signs, converts the document to a PDF and mails it to each person. When we get the document back we will forward the SPA to the Seller.

When we receive the IMFPA it is time to get a written approval of the price and procedures. When they buyer send this letter to us on his letterhead we then know the buyer is serious and wants to proceed. We also ask for the buyer’s profile so the seller knows who they are dealing with.

At this point it is time to take the procedure and the price from the buyer’s approval letter and insert those items into the contract and get final contract approval from the seller and send the contract. The NNPC Approved Fiduciary’s Authority to sell document will be provided with the final documents. This document has already been verified by a different buyer so we know this will not be any problem. We have a separate article about how this is done. Since we have already done this we know where and how to get it done.

The buyer now has submitted the contract(SPA)

Now that their due diligence  has been carried out they proceed to get their affairs order  and begin the purchase process following the agreed procedure.

 Now to begin this process of BLCO Buyer Registration

1)State first in an email with full company details and  buyer's details (if different)  indicating your requirements. as indicated above.

2)Download and complete Client Information Sheet.

If you have already done this once please feel free to just email us. sales@crudeoil.ws

Information provided by the AluminumNow Group and is for information only as the procedures are changing.