WIXLIB

GTC 2017 – Crude Oilstandard practice (API MPMS 17.2 and 17.5). The Buyer reserves all rights to claim for any costdirectly related to custom fine that may arise pertaining to such discrepancy including but not limitedto, custom clearance charges and / or custom fine and / or paid government taxes. In the event of anysuch claims, the Buyer shall notify the Seller of its claim in writing, and the Seller shall endeavour fullsettlement of all such claims.4.7In the event declared final loading port (or STS loading location) is changed (for any reason(s)whatsoever except Force Majeure) within fourteen (14) calendar days prior to the first day of loadingdates and or cargo from original loading port is already loaded and or floating prior to the Seller’sdeclaration of original loading port, loading dates, performing vessel, acceptance of mutually agreedInspector and issuance of the Buyer’s document instruction, and such delivery is acceptable to theBuyer, the maximum tolerance for net B/L quantity against net shore tank actual received quantityshall be 0.3 percent. The Buyer reserves all right (without prejudice) to claim for any discrepancies inexcess of the maximum tolerance if the discrepancies between net B/L quantity and net shore tankactual received quantity is more than 0.3 percent.5Delay of Delivery5.1In the event that the Seller fails to deliver the cargo(es) within the 2-day ADD for any reasonswhatsoever except Force Majeure, the Seller shall pay the Buyer a delayed delivery charge based onthe vessel demurrage rate per day pro rata and calculation for such delayed delivery charge shallcommence on the next day at 0000 hours from the last day of ADD (i.e. ADD 1st to 2nd, delayeddelivery charge shall commence from the 3rd) up to valid Notice of Readiness (“NOR”) tendered orwhen the vessel all fast, whichever is earlier:5.1.1 If the date of valid NOR tendered or when the vessel all fast, whichever is earlier, isbetween the first day until the third day of the last day of ADD (i.e. ADD 1st to 2nd, validNOR tendered or vessel all fast on 3th or 4th or 5th) such delayed delivery charge shall becomputed prorated based on 100 percent (“100%”) of the demurrage rate from the lastday of ADD until valid NOR tender (i.e. ADD 1st to 2nd April, valid NOR tender or vessel allfast is during 3rd to 5th April, then delayed delivery charge shall commence from 0000hrson 3rd April until valid NOR tender or vessel all fast, whichever is earlier, multiply by100% of demurrage rate).5.1.2 If the date of valid NOR tendered or when the vessel all fast, whichever is earlier, isbetween the fourth day until the sixth day of the last day of ADD (i.e. ADD 1st to 2nd,valid NOR tendered or vessel all fast on 6th or 7th or 8th), such delayed delivery chargeshall be computed prorated based on 100 percent (“100%”) of the demurrage rate untilthe third day from the last day of ADD and 200 percent (“200%”) of the demurrage ratecalculated from the forth day after the last day of ADD until valid NOR tender (i.e. ADD 1stto 2nd April, valid NOR tender or vessel all fast is during 6th to 8th April, then delayeddelivery charge shall be a sum of 100% of demurrage rate multiply by the time from0000hrs on 3rd until 23.59hrs on 5th and 200% of demurrage rate multiply by the timefrom 0000hrs on 6th until valid NOR tender or vessel all fast, whichever is earlier).5.1.3 If the date of valid NOR tendered or when the vessel all fast, whichever is earlier, is afterthe sixth day of the last day of ADD (i.e. ADD 1st to 2nd, valid NOR tendered or vessel allfast on or after 9th), such delayed delivery charge shall be computed prorated based on100 percent (“100%”) of the demurrage rate until the third day from the last day of ADDand 200 percent (“200%”) of the demurrage rate calculated from the forth day after thelast day of ADD until the sixth day after the last day of ADD and 300 percent (“300%”) ofPage 4 of 20

GTC 2017 – Crude Oilthe demurrage rate calculated from the seventh day after the last day until until valid NORtender (i.e. ADD 1st to 2nd April, valid NOR tender or vessel all fast is on or after 9th April,then delayed delivery charge shall be a sum of 100% of demurrage rate multiply by thetime from 0000hrs on 3rd until 23.59hrs on 5th and 200% of demurrage rate multiply bythe time from 0000hrs on 6th until 23.59 hours on 8th and 300% of demurrage ratemultiply by the time from 0000hrs on 9th until valid NOR tender or vessel all fast,whichever is earlier).5.2NOR tender shall be valid only when the vessel is (a) geographically ready (i.e. arrival in anchoragearea and anchored at discharge port), (b) legally ready (i.e. all port authority requirement for thevessel and cargo have been fulfilled, e.g. free practique granted) and (c) physically ready (i.e.substantially equipped and prepared for Oil to be discharged). The Seller shall provide the Buyer withthe performing CP or fixture recap to compute the delayed delivery charge within seven (7) calendardays upon receipt of such delayed delivery notice from the Buyer. Time shall be of the essence,otherwise, the Buyer shall use the demurrage rate quoted by London Tanker Broker Panel (“LTBP”)rate (and all associated costs incurred shall be entirely on the Seller’s account) should the Seller failsto provide the CP or fixture recap for any reasons whatsoever within the stipulated timeframe.5.3The Buyer shall submit such delay of delivery claim (if any) on a best endeavour basis uponcompletion of discharge; Nevertheless all such delay delivery claim shall not be time-barred by theSeller.6Vessel Nomination and Terminal Restriction6.1The Seller shall declare the performing vessel in writing at least seven (7) Indonesia business daysprior to the first day of loading, giving full particulars of the vessel (including last three (3) cargoes);the Estimated Time of Arrival (“ETA”) of the vessel at discharging port and the applicable demurragerate. Any vessels chartered shall have a minimum coverage under P&I Club insurance for oil pollution.6.1.1 The Seller’s performing vessel shall always be subject to written acceptance from the Buyer and / orthe discharge terminal. Notwithstanding any prior acceptance of a vessel or rule of law to the contrary,the Buyer shall have the right to reject the vessel in question on any reasonable ground. The Buyershall not be liable for any loss or damage, directly or indirectly, which the Seller may suffer from as aresult of the Buyer exercising such right.6.1.2 Time shall be of the essence in this respect and without prejudice, the Buyer shall be absolved of allresponsibilities including but not limited to the Buyer’s delayed acceptance of the Seller’s performingvessel, and or any delay in berthing and any demurrage incurred that may result from the Buyer’s latereceipt or non-receipt of the Seller’s declaration of performing vessel for any reasons whatsoeverwithin the stipulated time.6.2Single hull vessel shall not be permitted and double hull vessel shall not be more than twenty (20)years old.6.3The vessel owner and the independent loading port Inspector shall certify that slop tank is clean andfit for loading as with Tank Cleanliness Certificate(s) and Certificate(s) of Slop/Slop Report(s) and anyother relevant records the Buyer considers appropriate for such usage.6.3.1 The vessel owner shall evident designated compartment/tank(s) (i.e. stowage plan and ullage report)use for slop (if any) and any other relevant records the Buyer considers appropriate for such usage,with a minimum capacity of three percent (“3%”) of the Oil carrying capacity of the ship for suchusage.6.3.2 Without prejudice, in the event that the vessel owner and the independent loading port Inspector isunable to provide such documented evidence, the Buyer reserves all rights to reject the entire cargo,Page 5 of 20

GTC 2017 – Crude Oiland or elect not to discharge the entire cargo in the slop tank. And consequently, all related cost thatmight arise due to such circumstances (i.e. slop tank cargo not discharged and or entire cargorejected) shall be entirely for the account of the Seller and in no event shall the Buyer be liable for anysuch losses or damages that the Seller may incur.6.3.3 For STS loading operation, cargo(es) from Slop Oil Tank shall be prohibited to be loaded into theBuyer’s vessel unless the vessel owner and the independent Inspector for STS operation providecertification that the slop tank was clean and fit for such grounds prior loading including but notlimited to Tank Cleanliness Certificate(s) and Certificate(s) of Slop/Slop Report(s) and any otherrelevant records the Buyer considers appropriate. The vessel owner shall provide documentedevidence that the designated compartment/tank(s) (i.e. stowage plan and ullage report) use for slop(if any) and any other relevant records the Buyer considers appropriate for such usage.6.3.3.1Without prejudice, in the event that the vessel owner and the independent Inspector for STS loadingoperation is unable to provide such documented evidence, the Buyer reserves all rights to reject theentire cargo, and or elect not to discharge the entire cargo in the slop tank. And consequently, allrelated cost that might arise due to such circumstances (i.e. slop tank cargo not discharged and orentire cargo rejected) shall be entirely for the account of the Seller and in no event shall the Buyer beliable for any such losses or damages that the Seller may incur. Such STS loading operation shall notbe allowed in Indonesian water.6.4The vessel shall be accommodated during day light local time from 0600 hour until 1600 hour (exceptfor SPM RU IV Cilacap the daylight local time from 0600 hour until 1500) subject to weather conditionsand visibility, provided Master of the performing vessel reports ETA for preparation of pilot, tug boatand mooring boat facilities under condition that the Seller arrange Master of the performing vessel toreport directly to the Buyer immediately upon completion of loading daily notices of ETA, and notlimited to 168, 120, 72, 48, 24, 12, 6, 5. 4, 3, 2, 1 hours notice of ETA before vessel actual arrival andotherwise in accordance with the standard reporting procedure applicable from time to time at thedischarging port. For the avoidance of doubt, ETA notices provided directly by the Seller (in anyformat) shall not be constituted as receipt of ETA notice by the Buyer. Further notice for any changesto ETA in excess of two (2) hours shall be reported immediately to the Buyer. Such ETA notices shallbe based on reasonable belief. All such ETA notices (for authentication) must be provided by theMaster of the performing vessel and shall include the following information: Average noon to noon position / Average speed on voyage; ETA discharge port (date/time/local time/GMT) Distance to go Speed (last 24 hours) Weather condition (sea/swell, direction/force) Geographical position (longitude/latitude). Average slip (state where positive or negative current) Stoppages (if any), at sea – it is essential that this information be advised detailing all stoppagesat sea, including explanation of such stoppages6.4.1 Time shall be of the essence in this respect and without prejudice, the Buyer shall be absolved of allresponsibilities including but not limited to any delay in berthing and any demurrage incurred that mayresult from the Buyer’s late receipt or non-receipt from the Master of the performing vessel’s ETAnotices for any reasons whatsoever within the stipulated time.6.5The vessel shall tender NOR within the ADD upon arrival at the discharge port or the customaryanchorage but always in accordance with the terminal restriction (if any). In the event that the vesselarrives at the discharge port outside ADD, the vessel shall be berth on best endeavour basis. AndPage 6 of 20

GTC 2017 – Crude Oilwithout prejudice, the Buyer is absolved of all responsibilities for any additional costs, damages orexpenses incurred by the Seller in the event that the vessel arrives at the discharge port outside ADD,including but not limited to demurrage, related commercial issue, any issue with the custom orauthority in the event the vessel so chose to remain in the inner port, and / or any drifting bunkerscharged by the owners in the event the vessel needs to drift off port limits and / or open sea.6.6Terminal restriction:6.6.1 Balikpapan terminal can only accommodate the vessel up to 150,000 DWT (no remeasurement) withmaximum safety draft of 18 metres, and maximum cargo quantity shall be approximately 950,000barrels ( /- 5% operational tolerance);For discharge operations at Balikpapan terminal, in the event pour point of crude oil supplied is 70 degF or more, then vessel must comply with the followings:Pour Point in Whole CrudeVessel Heating Temperature70 deg F PP 80 deg FPP 25 deg F80 deg F PP 90 deg FMin. 125 deg FPP 90 deg FMin. 130 deg FIt is compulsory that the vessel must support flushing activity if pour point of crude oil supplied is 70deg F or higher.6.6.2 Balongan terminal can only accommodate the vessel up to 150,000 DWT (noremeasurement) with maximum safety draft of 22 metres, maximum cargo quantity shallbe approximately 600,000 barrels ( /- 5% operational tolerance), and can notaccommodate Suez Max vessel;.6.6.3 Cilacap terminal (CIB I and CIB II) can only accommodate the vessel up to 135,000 DWT (noremeasurement) with maximum safety draft of 12.5 metres and maximum cargo quantity shall beapproximately 600,000 barrels ( /- 5% operational tolerance); and for discharge via Single PointMooring (“SPM”) operation, can only accommodate the vessel up to 300,000 DWT (noremeasurement) with maximum cargo quantity of approximately 950,000 barrels. And vessel above250,000 to 300,000 DWT can only be accommodated with the conditions of maximum wind speed 32knots per hour; wave height 2.8 metres; and sea current 1.6 knots. Otherwise, the required criterionshall be maximum wind speed 40 knots per hour; wave height 3.5 metres; and sea current 2 knots.Delays in berthing for discharging and any delays after berthing, due to the non compliance of suchconditions shall not be counted as laytime or included in calculating the time taken by non partyprocuring vessel to discharge the shipment in question hereunder or the time in respect of which nonparty procuring vessel is liable for demurrage.For discharge operations at Cilacap SPM, in the event pour point of crude oil supplied ismore than 9 deg C, then vessel must provide a heating temperature at pour point 15deg C.6.6.4 Dumai terminal can only accommodate the vessel up to 120,000 DWT (no remeasurement) withmaximum safety draft of 15 metres, maximum cargo quantity shall be approximately 600,000 barrels( /- 5% operational tolerance).6.6.5 Other vessel particulars shall be as per each terminal and or port regulation.6.7The Buyer shall not be responsible to vessel owners for the issuance of any LOI to discharge the cargowithout the original B/L being available at the point of discharge and all direct or indirect cost incurredsuch as demurrage caused by the delay of discharging due to delay in the issuance such LOI shallentirely be for the Seller’s account.7PricePage 7 of 20

GTC 2017 – Crude Oil7.1(A) The price shall be the arithmetic average of the mean(s) of the assessment for Brent (Dated) aspublished in Platts Crude Oil Marketwire, for the period from and including the first day of the monthof ADD up to and including the last day of the month of ADD (i.e. ADD 25th to 26th January, pricingfrom 1st to 31st January) plus a premium or minus a discount Alpha in United States Dollars (“USD”)per barrel.7.1.1 For pricing based on (A), in the event that the valid NOR tendered date, the NOR accepted date and /or the date of vessel berthed, are on and or prior to the month of ADD for any reasons whatsoever,the pricing period shall be calculated based on the month of ADD.7.1.1.1In the event that the valid NOR tendered date is after the ADD, and the delivery slips into thefollowing month, for any reasons whatsoever, the pricing period shall be calculated basis (a) if validNOR is tendered within seven (7) days after the last day of ADD (i.e. ADD 25th to 26th August, validNOR tendered on or before 2nd September), then pricing period shall be based on month of ADD (i.e.month of August) and (b) if valid NOR is tendered seven (7) days after the last day of ADD (i.e. 2-dayADD 25th to 26th August, valid NOR tendered from 3rd September), then pricing period shall becalculated based on whichever lower priced between the pricing period based on month of ADD andthe pricing based on month of valid NOR tendered date (i.e. Between August and September,whichever lower priced month). For the avoidance of doubt, the dates and months quoted are solelyfor ease of references only7.2In the event that the final price is not known prior to the payment due date, a provisional price basedon the arithmetic average quotations for Brent (Dated) as published in Platts Oil Marketwire, to bemutually agreed between the Parties (and if unable to mutually agree, provisional price shall beconfirmed by the Buyer), either (a) for as many quotations as possible to be mutually agreed betweenthe Parties before invoicing date, or (b) based on the previous whole month quotations, plus thepremium or minus the discount Alpha in USD per barrel agreed between the Parties.7.3The final unit price shall be rounded to two (2) decimal places. The arithmetic rules of rounding shallbe if the third decimal place is five (5) or greater than five (5), then the second decimal place shall berounded up to the next digit, and if the third decimal place is less than five (5), then the seconddecimal place shall be unchanged.7.4Published correction to any of the relevant quotations shall be taken into account.8Payment8.1The payment shall be made in USD to the Seller’s nominated bank account, and shall be due andpayable only (without prejudice) on whichever is the latest payment due date:8.1.1 Thirty (30) calendar days

the net B/L quantity. For the avoidance of doubt, such deduction of any free water quantity reported in the loading port and discharge port shall exclude the free water quantity that has been deducted in the B/L quantity. 4.2 The loading port terminal and or Inspector shall evidence the free water quantity deduction from net B/L quantity.