Subject: FW: Loi
From: <[email-masked]>
To: <[email-masked]>
Date: Wed, 4 Oct 2023 04:50:24 -0700

From: [email-masked] <[email-masked]>
Sent: Wednesday, October 4, 2023 1:06 AM
To: Info <[email-masked]>
Cc: 'Elyas Niroomand Toomaj' <[email-masked]>; 'Majid' 
<[email-masked]>
Subject: RE: Loi

Dear sir,

Thank you for your great offer. I would like to highlight the following 
notes, please:

1. Is there a timeline for the super-heavy availability, please?

2. There is a significant delta between your offer and the last sales price 
from the supplier. Based on the latest information from the supplier the 
price for the heavy was minus $19 and the light was minus $14.50 (As 
mentioned in our LoI); as the buyer is ready to purchase and it's a new 
refinery (we will present the supporting documents in the meeting), and 
would be forming a long term strategic relationship with this buyer would it 
be possible to kindly match these offer or what would be the best and final 
offer, please?

2.1 Please, kindly note that the end-buyer is going to purchase the basket 
continuously every month, and would be mutually beneficial to offer them the 
best prices available.

3. Would it be possible to make the payment of 10% at the contract after the 
test and 90% at the time of the NOR and before the discharge?

4. As we are waiting for the super heavy availability would it be possible 
to increase the light by one million barrels, please?

I would like to thank you in advance for your kind collaboration. We are 
looking to establish a long-term fruitful cooperation with your esteemed 
organization.

Sincerely yours,

Management Team

Yarkin Enerji

Oct 2, 2023 at 19:24 by [email-masked] <mailto:[email-masked]> :

Dear  Sir ,

Thank you for the letter No. Ref: C_O_103  dated 25th  September 2023, With 
reference to the meeting, appreciate for your interest in establishing the 
business with SEJ, regarding crude oil please consider below items for the 
next steps :

1.	For super heavy crude oil we can not supply at this moment

2.	For light pure crude oil

1-   Quantity: 1,000,000 barrels (Suez size vessel which is in Chinese 
international waters )

2-  Quality : as attached, light pure crude oil, sulfur content of 1.46 %

3-   Destination: it shall be mentioned in the contract so please advise the 
exact destination (discharge port) and name of the refinery

4- Terms of delivery: CFR , one safe port in China

5- Payment terms:

5-1-Buyer shall make 5 million USD advance payment as per contract

5-2- Seller shall provide Vessel name, BL , CCIC and other POP documents 
with laycan to the destination port, further more permission for dip test at 
OPL will be issued to the buyer

5-3- buyer will make 10% of the payment based as per provisional invoice 
which will be issued as per provisional pricing period and after 
confirmation of the test and POP verification

5-4- vessel will register to the port of discharge after receiving 10% 
payment and get entry notice

5-5- after tendering NOR, buyer shall make 20% of the total value of the 
cargo and after that vessel shall get berthing order, after receiving berth 
order and before discharge buyer shall make the remaining payment up to 
100% payment based on provisional value of the cargo, vessel will start for 
discharging after receiving 100% of the value of the cargo

5-6- price shall be minus 12.50 USD/BBL based on dated brent available 
quotations during mutual confirmed pricing period

5-7- The final value of Cargo shall be determined and paid based on 
contractual unit price calculated as per final pricing period  (deducting 
the provisional paid amount) to Seller latest by three calendar days from 
the last calendar day of the respective pricing period of the contract.

In case the final value of the whole Cargo is less than the provisional paid 
amount by Buyer under the terms and conditions of this contract, Seller will 
settle such difference, in the buyer’s nominated bank account.

5-8- for covering price fluctuation buyer shall provide guarantee for 20% of 
the total provisional value of the cargo in order to guarantee the payment 
of the price difference between provisional and final price.

5-9-in case that pricing period will be determined before discharge, item 
no. 5-8 is not required.

3.	For heavy crude oil

1-   Quantity: 2,000,000 barrels (Suez size vessel which is in Chinese 
international waters )

2-  Quality : as attached, heavy crude oil, sulfur content of 1.9-2.1 %

3-   Destination: it shall be mentioned in the contract so please advise the 
exact destination (discharge port) and name of the refinery

4- Terms of delivery: CFR , one safe port in China

5- Payment terms:

5-1-Buyer shall make 5 million USD advance payment as per contract

5-2- Seller shall provide Vessel name, BL , CCIC and other POP documents 
with laycan to the destination port, further more permission for dip test at 
OPL will be issued to the buyer

5-3- buyer will make 10% of the payment based as per provisional invoice 
which will be issued as per provisional pricing period and after 
confirmation of the test and POP verification

5-4- vessel will register to the port of discharge after receiving 10% 
payment and get entry notice

5-5- after tendering NOR, buyer shall make 20% of the total value of the 
cargo and after that vessel shall get berthing order, after receiving berth 
order and before discharge buyer shall make the remaining payment up to 
100% payment based on provisional value of the cargo, vessel will start for 
discharging after receiving 100% of the value of the cargo

5-6- price shall be minus 17.50 USD/BBL based on dated brent available 
quotations during mutual confirmed pricing period

5-7- The final value of Cargo shall be determined and paid based on 
contractual unit price calculated as per final pricing period  (deducting 
the provisional paid amount) to Seller latest by three calendar days from 
the last calendar day of the respective pricing period of the contract.

In case the final value of the whole Cargo is less than the provisional paid 
amount by Buyer under the terms and conditions of this contract, Seller will 
settle such difference, in the buyer’s nominated bank account.

5-8- for covering price fluctuation buyer shall provide guarantee for 20% of 
the total provisional value of the cargo in order to guarantee the payment 
of the price difference between provisional and final price.

5-9-in case that pricing period will be determined before discharge, item 
no. 5-8 is not required.

4.	Please consider that for other terms of delivery we can negotiate and 
also if we receive materials like profile, experience histories and bank 
statement for proof of fund from your good company we can provide SPA to get 
it signed and proceed.

In order to discuss further details please contact us at +35796033090 in 
WhatsApp .

We are looking forward to hearing from you soon.

Regards,

Commercial department

From: [email-masked] <mailto:[email-masked]> 
<[email-masked] <mailto:[email-masked]> >

Sent: Monday, September 25, 2023 4:32 AM

To: Info <[email-masked] <mailto:[email-masked]> >

Subject: Loi

Hi

Sincerely yours,

Sales Team

Yarkin Enerji