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    R.A. Abiola Petroleum & Gas Ltd has received a Letter of Intent from Peprime Limited to procure LPFO commodity. Peprime is willing and able to purchase 50,000 to 100,000 metric tons per month for 12 months of standard quality Nigerian origin LPFO. The letter requests that R.A. Abiola provide pricing and procedures for FOB and CIF terms as well as details on nominations, shipment, and banking for the transaction.

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    R.A. Abiola Petroleum & Gas Ltd has received a Letter of Intent from Peprime Limited to procure LPFO commodity. Peprime is willing and able to purchase 50,000 to 100,000 metric tons per month for 12 months of standard quality Nigerian origin LPFO. The letter requests that R.A. Abiola provide pricing and procedures for FOB and CIF terms as well as details on nominations, shipment, and banking for the transaction.

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    7 views3 pages

    Screenshot 2023-08-02 at 4.44.09 PM

    Uploaded by

    Mr Ken Leon Pants
    R.A. Abiola Petroleum & Gas Ltd has received a Letter of Intent from Peprime Limited to procure LPFO commodity. Peprime is willing and able to purchase 50,000 to 100,000 metric tons per month for 12 months of standard quality Nigerian origin LPFO. The letter requests that R.A. Abiola provide pricing and procedures for FOB and CIF terms as well as details on nominations, shipment, and banking for the transaction.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 3

    Our Reference: PEPRIME/RPGL/LPFO/31/07/23/001 Date: July 31, 2023

    THE MANAGING DIRECTOR


    R.A.ABIOLA OF RAFAB PETROLEUM & GAS LTD,
    LAGOS NIGERIA

    Dear Sir/Madam,

    LETTER OF INTENT (LOI)


    We, Peprime Limited with full legal responsibility do hereby confirm that we are ready, willing and
    able to procure the following commodity; LPFO as per the quantity and as specified in the terms and
    conditions stated below.

    TERMS AND CONDITIONS:

    Product: LPFO

    Quality/Spec: Standard Export Quality(see attached)

    Origin: Nigeria

    Quantity: 50,000 100,000 MT & above per Month x 12 Months

    Contract: 12 months, with possibility of rollovers & extensions

    INCOTERMS: (FOB & CIF (we accept both and need price and procedure for both)

    Price: [TBD]

    Payment/Financial Instrument: Instrument/Payment via BG/SBLC/DLC MT700/MT103.

    NOMINATIONS, SHIPMENT & BANKING PROCEDURES: [TBD by both parties]

    We look forward to your prompt response and issuance of detailed offer (terms/procedures and
    price) at your earliest convenience.

    Sincerely,

    Prof Paul Eke


    Executive Director
    Peprime Limited

    23 Rubislaw Den North AB15 4AL Aberdeen United Kingdom tration number SC366772
    Standard LPFO/Black Oil Quality

    23 Rubislaw Den North AB15 4AL Aberdeen United Kingdom tration number SC366772
    23 Rubislaw Den North AB15 4AL Aberdeen United Kingdom tration number SC366772

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