EDL is US Corporation in a joint venture with venture capital company, we are physically trading crude oil from the North seas and Nigeria as well as other refined products.
Our core values are to provide solutions to our clients that:
Bridge the gap between investors and resources to achieve high business goals.
Eliminate business inefficiencies in order to perform at maximum capacity with high returns.
Create access to investors and resources.
All Bonny Light Crude Oil (BLCO) to be supplied by EDL is directly from the Bonny terminal. EDL will comply with all governmental and International industry standards and specifications in accordance with NNPC (Nigerian National Petroleum Corporation)
Proposed pricing Platts Brent (3day avg.)
Payment terms SBLC or Bank Guarantee.
The length of the contract is one year with the total amount of crude oil per contract of 12,000,000 Barrels. (Could be scaled up or down)
Monthly supply is(1,000,000) BBLS
Price quoted CIF Port of Destination(India)
Quantity will be one million (1,000,000) barrels per month with positive or negative Operational Tolerance of 5 percent (+/-5%).
The benchmark is Platts Dated Brent daily quotation (Dtd) for the 3 days post B/L.
Our Trading transaction procedures are summarized below:
We issue a Soft Corporate Offer (SCO) for review and due diligence by buyer.
Buyer issues Letter of Intent (LOI)
After satisfactory due diligence by buyer, we issue a contract for signing.
We complete term contract with buyer, Sign and Seal –Contract includes and is contingent upon successful delivery and payment of the first shipment.
Buyer issues a SBLC (Irrevocable with specific verbiage) for one-month shipment, as contract requires that will revolve for the duration of the contract and upon satisfactory delivery.
CIF India, SBLC provided for purchase of Bonny Light Crude oil will only be drawn upon vessel’s arrival at a Port in India and confirmation of Quality and Quantity by an approved third party testing expert.
All necessary Full Proof of Product (POP) is issued by us for transaction as required by buyer’s bank and agreed on the contract. The SBLC paying against documents will be stipulated on the contract (SGS, Bill of lading, cargo manifest etc.)
Buyer’s bank pays with the (SBLC) to our bank. Transfer of title of product is made by seller’s bank to buyer’s bank and transaction is finalized
API Gravity: 35.7°
Specific Gravity: 0.8459
Water Content: 0.2% Vol. Max
BSW:0.6% Vol, maxPour
point: Below 40 Degree F. max
Salt: LB per 1,000 bbl, 12, max
Total Sulphur, wtK%: 0.14 max
Reid Vapor Pressure: 6.52 PSIG, max
Carbon Residue, wt%: 1.0, max.
VINI, PPM wt:, 2.0
Vis, cst @ 37.8 Deg C.: 3.47, min.
Yield C1-C4 wt%: 2.