OREANDA-NEWS. SC Klaipedos nafta, (hereinafter, the Seller) hereby informs about the announcement of the sales auction of heavy oil products, accumulated in the waste treatment facilities during the process of purification of bilge water from tankers polluted with waste oils (hereinafter, the Product). The auction shall be performed in accordance with the RULES OF AUCTIONING OF THE HEAVY OIL PRODUCTS IN BULK INTENDED FOR EXPORT OF KLAIPĖDOS NAFTA, AB, (hereinafter, the Rules), confirmed by the Seller and publicly announced on the Seller's website www.oil.lt.

Main information about the Product and conditions of its sales:

1. CN code of the Product - 2710 19 99. The Product quantity for sale - volume of the Goods - 2,300 gross mt in vacuum (+/-5 % loading tolerance). The Participant should bid for the whole quantity of Product announced for sales (partial purchase is not allowed).

2. The quality of the Product is determined in the Terminal shore tanks of the Seller (see ref. to the Quality Certificate enclosed).

3. The Product shall be sold for the highest price offered in USD for 1 (one) metric gross ton in vacuum, on FOB port of Klaipeda conditions (according to Incoterms 2000). Minimum price for such 1 (one) metric ton of the Product shall be equal to the average of the mean quotations for 3.5 pct Fuel Oil, published by Platt's European Marketscan under the headings "Cargoes CIF NWE/Basis ARA" and "Barges FOB Rotterdam" during the period from 19th till 28th of February, 2015 (both dates inclusive), minus a discount of USD 35.00 per metric gross ton in vacuum.

4. The Buyer (the Winner of the Auction) shall provide the tanker for the Product shipment from the Seller's Terminal not later than on 5th of March, 2015, unless otherwise agreed in writing.

5. Not later than the expiry of the proposals for Auction registration term the Participant shall pay to the Seller's account Participant's obligation fulfilment fee.

The obligation fee value shall be 5 (five) percent of the total predictive Product value, calculated on the basis of the Product quantity for sale and price of 1 (one) ton of the Product, which shall be equal to the average of the mean quotations of Fuel Oil 3.5 %, published by Platt's European Marketscan under the headings "Cargoes CIF NWE/Basis ARA" and "Barges FOB Rotterdam", in the last available publication prior to the date of upcoming Auction announcement.