Gasco Petroleum Ltd.

Company Description

We, on behalf of BuyersGroup/China, are seeking offers on   (1)     Mazut M100 GOST 10585-75 Nickel 49Quantity 200, 000 MT monthly x 12 months Total 2, 400, 000 MT(2)     Diesel fuel D2 L-0.2-62 GOST 305-82 Flash Point 62 deg C, Sulphur   0.2                        Quantity  200, 000 MT monthly x12months  Total 2, 400, 000 MTPrice : CIF Chinese seaports price, firm for one-year contract. Do not quote price with discounts off PLATTS.Procedures â the following sequence of events must be followed :1. SCO [ Soft Corporate Offer] â A Company bringing to us an offer to sell should provide us with an SCO issued by the Seller ( oil company  or  refinery )  with corporate  responsibility ***** Company could  be a Broker, an Intermediary, Sellerâs Facilitator or Sellerâs Mandate. Buyer does not give out Target price, which often leads to fishing . Any offer asking for Target price, LOI , ICPO or BCL  without first giving  an SCO  with corporate responsibility, will be disregarded .2. LOI  [ Letter of Intent ]  - If the SCOâs price and terms were acceptable, Buyer will  issue an LOI. which  shall  contain the price and terms  accepted by Buyer and Buyerâs  banking data permitting Seller to soft-probe.3. FCO [ Full Corporate Offer]  - In response, Seller shall send an FCO, confirming  the price and terms in the Buyerâs LOI.4. Draft Contract  - Buyer signs and accepts Sellerâs  FCO confirming his acceptance of price and terms in the FCO. Seller submit  a Draft Contract to Buyer for review and amendments, if any. Buyer also provide Seller with BCL [ Bank Comfort Letter]5. ICPO  [Irrevocable  Corporate Purchase Order] â By now all prices and terms are finalized  with Buyerâs corporate responsibility and become irrevocable. Any offer asking for ICPO without going through SCO, LOI and FCO is considered incompetent and insincere, and shall be disregarded.Commissions    50/ 50 basis.   Buyerâs 50% is closed . Buyer does not pay Sellerâs mandate, Seller facilitat