Maybe I shouldn't write about oil so much

More on oil on my site Financial Options including The Secret Way to Play Oil.

I got a variation on the 419 scams offering to sell me Nigerian oil at a discount. 2-4 million barrels a month for 12 months at a discount of $3/barrel below Brent crude. Heck of a deal…I might even clear enough to pay for my own gas consumption.

Complete letter follows the cut. I even included “Mike Jones” email in case you want to take advantage of this scam, er, offer, for yourself.

Dear Sir
We represent the seller that has existing and current Allocation from Nigerian National Petroleum Corporation for lifting crude oil.
1. PRODUCT: Bonny Light Crude Oil
2. ORIGIN: Nigeria
3. QUALITY: NNPC standard export specification
Technical specifications:-
Specific Gravity (API) 37
Density at 20 degrees, CG.CM, max 0.85
Basic Salt Water (BSW) 0.6 % Vol
Color Dark Brown
Salinity PTD ATO, 10% BS&W 47 max
Acid Number 0.39
Reid Vapor 6.52 max (PS)
Water & Sediment % max 1.0
Iron, wt ppm 1.0
Vanadium, wt ppm 2.0
Nickel, wt ppm 4.0
Pour Point below 400 deg. F
Sulphur Content, % wt 0.14 [Sweeeeeet! – ed]
4. QUANTITY: 2-4 million barrels per month for 12 months +/- 5%
5. LOADING PORT: Bonny Terminal, Nigeria
7. DELIVERY: F.O.B or C.I.F. delivery basis at the Buyer port of discharge
9. Price, Credit Period & Currency:
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 United States Dollar (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 to the Buyer shall be US$5.00 Dollars per barrel gross below DID Brent / Net US$3.00 Dollars to buyer, US$1.00 to buyer side agent, US$1.00 to seller side agent.
10. Payment Terms:
The payment will be in US Dollars and made by irrevocable, confirmed, transferable, revolving (SBLC) issued or confirmed by a top rated World Bank in favor of the Seller in the amount in US Dollars corresponding to the total value of each shipment. SBLC issued will be valid for forty five (45) days.
11. Vessel Nominations, Shipment & Procedure:
I. After LOI from Buyer and FCO from Seller. Buyer Issues ICPO With Full Banking Details and BCL.
II. Seller Issues Full Styled Contract with Buyer & Seller Full Banking Coordinates.
III. Seller/ Buyer Sign, Seal This Contract And Exchange The Singed Copy By Electronic Mail. The
Electronic Signed Copy By Both Parties Is Considered Legally Binding And Enforceable.
A.: Within two (2) banking days, Buyer Bank sends to Seller Bank, through
Confirmed, non-transferable, Revolving (according text added on this contract)..
B.: B.: Within two (3) banking days, Seller Bank posts 2 % PB no-opetative (as per annex B) to activate
Buyer Standby Letter of Credit no-operative. And send a copy of NNPC POP (ABUJA) via Fax or email.
C.: Buyer bank activate the SBLC on 100 %.
IV. Seller within six (6) banking days will register contract on SHELL SCREEN LLOYDS LONDON in name of the Buyer.
V. Seller Nominates the Vessel and Gives to the Buyer: Ship Name, Call Letters, Captain Name and a Copy of the Aspatankvoy Charter Party.
VI. Seller Delivers Crude Oil.
Be of interest please send down your phone number and let discuss the next step foward.
Best Regard
Mike Jones
United oil agency
Yours faithfully

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