Oil Business In Nigeria - Business - Nairaland
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| Oil Business In Nigeria by Nobody: 10:11pm On Sep 24, 2013 |
hi guys,im asking this because im new to this.my friends linked me up with this oil biz,now im hearing terms like LFPO,ALOTEE,SPA,MANDATE pls can anyone explain this strange terms to me in your best understanding. |
| Re: Oil Business In Nigeria by normaljenny(m): 10:55pm On Sep 24, 2013 |
braimahjak: hi guys,im asking this because im new to this.my friends linked me up with this oil biz,now im hearing terms like LFPO,ALOTEE,SPA,MANDATE pls can anyone explain this strange terms to me in your best understanding. ALOTEE can be explained as the seller/company that have the allocation from nnpc to sell crude oil. SPA "SELLER & PURCHASER AGREEMENT" is a contract draft agreement to be signed between the seller's and buyer's representatives or agents, that would make them all part/beneficiaries of the business. Their banking cordinates will be included in it too. MANDATE is when a selling or buying company has mandated an individual/company/agent to speak and act on their behalf. That's all I can say for now. |
| Re: Oil Business In Nigeria by Nobody: 11:00pm On Sep 24, 2013 |
normaljenny: Thanks a million ,i have been lost in this for a while,but nw im gud! |
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