Iranian light crude oil - iranian heavy crude oil

ORIGIN: Iran
QUANTITY: 2.000.000 BBL per month with the possibility to increase after
contract fulfilment. It can be increase up to 20.000.000 BBL per
month.
UNIT: Barrels (BBL)
PRICE: Brent minus $13 USD / BBL CFR Rotterdam or
Brent minus $12 USD / BBL CFR Latin American ports.

TERMS: CFR destinations as detailed above
PAYMENT METHOD: Contract - Standby Letter of Credit (SBLC) irrevocable,
transferable, revolving, divisible and operative confirmed issue by a
Top 25 bank for the value of first shipment and subsequently
activated for each delivery for the duration of the full contract period
to seller's bank. Payment at port of destination per each shipment
as per commercial invoice against SGS report and shipping
documents on a bank-to-bank basis.