Iraqi SOMO Targets Significant Fuel Oil Purchase to Meet Needs Through December

The Iraqi Oil Marketing Company (SOMO) plans to purchase approximately 446,250 tons of fuel oil with a sulfur content of 2500 parts per million. This acquisition aims to meet industrial and transportation sector needs, with deliveries scheduled between September and December of the current year. This marks the second tender of its kind issued by the company this year. The initial shipment, totaling 40,000 tons, is slated for delivery to Khor Al-Zubair port by September 15. The deadline for submitting bids is set for September 7, with offers remaining valid for a period of 20 days. SOMO was not immediately available for comment on the tender outside official working hours. Previous similar import requests, such as the one launched by SOMO in July for August-September delivery, have been attributed by trade sources to shortages in supplies from other providers. This development follows Iraq's commencement of operations at its new Karbala refinery in 2023 and its offering of term contracts for shipments earlier this year.