Engr Mathew Weng - Sinopec Group - michaelweng566@gmail.com

[Roxy]

from: Mathew Wang <mathewwang06@gmail.com>
date: Feb 21, 2021, 9:32 AM
subject: Re:
mailed-by: gmail.com

Hello,

I work with Sinopec Group China, We are major buyers of GEPetrol crude oil being supplied by the National Oil Company of Equatorial Guinea (GEPetrol). We are presently in need of a 1.5million barrels monthly supply of this crude oil for a total period of 1 year. As the procurement Supervisor, I was given the mandate to look for a Product lifting and sales licensed agent with GEPetrol that we can make this purchase through. This is necessary since GEPetrol does not sell their crude oil directly to the buyer but through their approved licensed agents acting as their middleman in the sales transaction.

It may interest you to know that GEPetrol pays their approved licensed agents a commission of $9.00 per barrel of crude oil sold from their license allocations. In times of drastic fall in price GEPetrol only pays a commission of 5% of the total value amount of the crude oil sold. This implies that by our company Sinopec buying 1.5 million barrels through your license allocation with GEPetrol at present means, you stand to earn a commission of 9% of the total value amount of 1.5million barrels of GEPetrol crude oil.

What do I propose?

I’m proposing that you obtain a Product lifting license with GEPetrol to become their authorized sales agent while I will bring our company Sinopec to the table to buy the needed 1.5million barrels monthly demand from your license and guide you step by step through the process of sales transaction until our company Sinopec makes payment to GEPetrol for the purchased crude oil which is where the role of a licensed agent ends. GEPetrol on receiving payment will remit the commissions into your nominated bank account as the licensed agent. I suggest a 70:30 sharing ration for the commissions once paid to you.

I will propose we share the commissions 70:30 thereafter. You take 70% as the owner of the license while 30% comes to me as the facilitating partner.

What I’ve offered us is a 100% legitimate business exercise which simply means being a sales agent for a product on behalf of the suppliers/sellers. The product for sale is the GEPetrol crude oil while the supplier/seller is the National Oil Company of Equatorial Guinea (GEPetrol). To become an authorized sales agent for this product, you will have to obtain a Product lifting and sales license from GEPetrol. Getting this license directly from GEPetrol and not passing any back door makes this project 100% legitimate.

Be advised that you can own and operate a product lifting and sales license under the GEPetrol - National Oil Company of Equatorial Guinea, from the comfort of your home. As an authorized licensed agent with GEPetrol, you are only going to act as a middleman between the buyers of the crude oil and the seller. The company I work for (Sinopec) is a buyer of this crude oil and will be going to the crude oil loading port of the GEPetrol with our vessel to buy the crude oil and take home to our port of discharge. You do not have to be physically present in Equatorial Guinea to facilitate the sale of the crude oil to Sinopec once you get the license but rather, Sinopec will buy the crude oil through your license while GEPetrol remits the commissions to your nominated bank account once they receive payment for the crude oil from Sinopec.

Also, to get this license, it is not compulsory for you to visit the GEPetrol head office in Equatorial Guinea to apply for this license. License Applications can be submitted electronically by email scan attachment if you cannot visit the GEPetrol head office to submit your license application. I will draft a License Application letter for you to sign and send to the GEPetrol to officially apply for the license. GEPetrol will then revert back to you with their detailed requirements to approve your license application which upon your compliance, they will approve your application and award a license to you. The license award letter will also be sent to you by email scan attachment while the hard copy can be picked up at the GEPetrol head office any time you wish.

Please note that both our company Sinopec and GEPetrol accept electronically signed documents. After you get the license, you can sign the Sales Purchase Agreement (SPA); which is being signed between the license agent, Sinopec (buyer) and GEPetrol (seller) and sent by email scan attachment. Once the SPA is signed between all parties to the transaction, the buyer will pay the seller for the purchased crude oil and upon receipt of payment, the seller will pay the commissions to the licensed agent by bank wire transfer.

Let me know if you need more clarifications to enable us to proceed to applying for the license asap. Time is no longer on our side as our company vessel is already on voyage to the GEPetrol loading port and you must obtain the license before the arrival of the vessel otherwise our company Senior Vice president will be forced to look elsewhere for a licensed agent to deal with.

I await your response

Regards

Mathew