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Oil & Gas

  • LIQUIDIFIED NATURAL GAS (LNG)
  • NIGERIAN LITE CRUDE (Bonny lite & Qua Iboe lite)
  • DIESEL GAS D2 OIL GOST 305-82
  • AUTOMOTIVE GAS OIL (AGO – 5000 PPM)
  • PREMIUM MOTOR SPIRIT (PMS)
  • MAZUT (M100/75 & other grades)
  • AVIATION KEROSENE COLONIAL 54 JET FUEL (JP54)
  • LIQUIDFIED PETROLEUM GAS (LPG)
  • CST-180 FUEL OIL RUSSIAN ORIGIN
  • GASOLINE 87 OCTANE RUSSIAN ORIGINS
  • GASOLINE 89 OCTANE RUSSIAN ORIGIN QUANTITY
  • EN-590
  • Diesel with less than 500 PPM Sulphur
  • BITUMEN All Grades.
  • And more…

Our procedures do not involve any upfront payment. Petroleum

However we do not encourage companies seeking a contract without an ICPO (With BCL or banking details).

We can ensure that the procedure is followed in every stage.

The procedures here are a guideline and do not reflect all suppliers.

GETTING STARTED:

a) Direct contact established between Ashmore Resources and Principal Buyer or Mandate.

b)  Buyer submits a Corporate Overview, to include Bios on the Principal(s), to Ashmore Resources for initial Seller’s Compliance Review.  Buyer describes the product they are looking for, method of payment, terms they wish to obtain, and confirming agreement with the Procedures.  Ashmore provides Seller’s response to the credentials presented – typically within 24 – 48 hours.

c)  Following initial Compliance, the Buyer Signatory receives Seller’s Confidential Bona Fides, accompanied by a Template Request for Quote (RFQ) via Ashmore.  The buyer returns the RFQ, along with the Buyer bona fides (as detailed in the RFQ), confirming the Buyer is a Signatory Principal.  This will allow Seller to return a Draft Contract to the Signatory Buyer.

Banking Details (LC instrument utilized in the transaction, product payment method, etc.) are confirmed during direct discussions between the Buyer Signatory and Seller Principals in the Contract phase of the Transaction.

Procedures (abbreviated)

1.    Buyer issues RFQ with Requested Information. (Seller will provide the RFQ Template, including information needed from the Buyer, and Product Specifications)

2.    Seller issues draft contract after receiving Buyer’s RFQ.

3.    Buyer and Seller agree to amendments as necessary and sign/seal.

4.    Buyer’s Bank issues a Pre-Advice agreeing to issue their Letter of Credit.

5.    Seller’s bank verifies receipt of the Buyer’s Pre-advice, and confirms the availability of Seller’s non-operative Performance Bond equal to the Annual Contract Value.

6.    Buyer issues a non-transferable, divisible, Cash-Backed Letter of Credit for the value of one month’s delivery, valid for 13 months.

7.    Seller’s Bank activates the Sellers Performance Bond.

8.    Seller issues Proof of Product; Buyer verifies evidence and confirms with Seller.

9.    Seller issues Laycan dates and Q88.

10.    Loading of goods is initiated per schedule.  Buyer issues payment of lift-able product upon loading.

11.    Title transferred and product lifted.  Balance of Proof of Product documents issued at time of lift.  CIF shipping as per contract.

Contact us today with your Petroleum product requirements.

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