Purchase
Direct purchase of Bonny Light Crude Oil (BLCO) from NNPC
1. Buyer shall issue a letter of intent (LOI) addressed to:
The Group Managing Director
NNPC
45B Herbert Macaulay Way
NNPC Towers
Central Business District
Abuja
Att: Dr. Emmanuel Ibe Kachikwu
Through:
The Presidency
State House
Abuja
2. Buyer shall attach their company profile to the letter of intent (LOI)
3. Buyer shall obtain from their bank; proof of funds (POF) available for the purchase of Bonny Light Crude Oil and attach a copy to the LOI (EG: Reference letter from their bank showing they can pay for the cargo)
4. Buyer shall issue an Authorization letter to NNPC to confirm the proof of funds (POF) from the issuing bank. The Authorization should be addressed as follows to:
The Group Managing Director
NNPC
45B Herbert Macaulay Way
NNPC Towers
Central Business District
Abuja
Att: Dr. Emmanuel Ibe Kachikwu
5. Buyer shall state clearly in the Letter of Interest (LOI) the type of transaction (CIF, TTT, TTO or FOB) expected.
Please note that formal procedures applicable to the type of transaction chosen by the buyer will be applied.
1. Buyer shall issue a letter of intent (LOI) addressed to:
The Group Managing Director
NNPC
45B Herbert Macaulay Way
NNPC Towers
Central Business District
Abuja
Att: Dr. Emmanuel Ibe Kachikwu
Through:
The Presidency
State House
Abuja
2. Buyer shall attach their company profile to the letter of intent (LOI)
3. Buyer shall obtain from their bank; proof of funds (POF) available for the purchase of Bonny Light Crude Oil and attach a copy to the LOI (EG: Reference letter from their bank showing they can pay for the cargo)
4. Buyer shall issue an Authorization letter to NNPC to confirm the proof of funds (POF) from the issuing bank. The Authorization should be addressed as follows to:
The Group Managing Director
NNPC
45B Herbert Macaulay Way
NNPC Towers
Central Business District
Abuja
Att: Dr. Emmanuel Ibe Kachikwu
5. Buyer shall state clearly in the Letter of Interest (LOI) the type of transaction (CIF, TTT, TTO or FOB) expected.
Please note that formal procedures applicable to the type of transaction chosen by the buyer will be applied.