[Closed] New Buyer Information: Commencement of Discussions with an Omani Company for EN590 Procurement

We are pleased to announce that our company has received an official Letter of Intent (LOI) from a buyer in the Middle East regarding the procurement of EN590 (ULS Euro 5 Diesel), and negotiations have now commenced.
This project involves a large-volume transaction based on delivery at the Port of Houston (FOB/TTO, etc.), and we are currently verifying conditions with the seller side.

■ Key Conditions Submitted by the Buyer (LOI Summary)
・Product: EN590 (10ppm Diesel)
・Delivery Area: Houston Port
・Payment Term: MT103 (same-day cash settlement)
・After successful trial, consideration of a long-term large-volume supply contract
・Transparent inspection procedures based on SGS standards
・A continuous procurement project based on actual demand

■ Preferred Procedures Stated in the LOI (Summary)
The buyer has confirmed the ability to proceed under either of the following two methods:

■ Method 1 — Standard FOB Process (TTO / SGS-Based Procedure)
1.Buyer submits ICPO, company registration certificate, and banking details
2.Seller issues Commercial Invoice (CI)
3.Buyer provides BCL (Bank Comfort Letter) and arranges SGS
4.Upon successful SGS results, buyer receives final confirmation and tank operational rights
5.Loading → Buyer pays via MT103 → Transfer of ownership

■ Method 2 — Escrow-Based Procedure
・Buyer submits ICPO and Escrow Agreement
・Buyer places a deposit with the escrow agent
・Seller provides PPOP (including SGS)
・After SGS confirmation, the product is reserved for the buyer and procedures continue
Both procedures reflect the buyer’s flexibility and readiness for actual consumption-based procurement.

■ Current Status
Our company has already reviewed the LOI and initiated the first-stage coordination process to match the buyer’s requested conditions with the seller’s supply terms.
The key points currently under examination are:
・Compatibility with delivery methods such as FOB / TTO / TTT
・Conditions for the presentation of PPOP
・Initial supply volume and long-term supply capacity
・Feasibility of the procedures (Method 1 / Method 2)

Further updates will be provided on this NEWS page as the negotiations progress.

Inquiry Reference Number: 2512111450UN