Arab Today, arab today somo signs deal to buy 15m tonnes of fuel
Last Updated : GMT 02:22:19
Arab Today, arab today
Arab Today, arab today

Somo signs deal to buy 1.5m tonnes of fuel

Arab Today, arab today

Arab Today, arab today Somo signs deal to buy 1.5m tonnes of fuel

Singapore - Arabstoday

Iraq\'s State Oil Marketing Organisation (Somo) has signed a deal to buy nearly 1.5 million tonnes of gasoil and petrol for delivery over the first half of the year, industry sources said yesterday. It is set to purchase two cargoes of 16,000 tonnes each of 0.1 per cent sulphur gasoil every month from Vitol at a premium of $9.67 a barrel to Middle East quotes, one of the sources said. The cargoes are to be delivered into the Khor Al Zubair terminal. Overall volumes bought for gasoil are about half the usual volumes imported into Iraq every month, the source added. \"It\'s still unclear how they are going to cover the rest of the supplies as they usually need about three to four cargoes a month,\" he said. For petrol, Somo agreed to buy 400,000 tonnes from Gunvor, 400,000 tonnes from Trafigura, 200,000 tonnes from Total and 300,000 tonnes from Vitol. The prices for separate cargoes were not immediately available. The company has not bought kerosene which it was seeking through the same tender and could likely be acquiring the barrels from Iran, one of them said. Somo had initially sought 1.365 million tonnes 92 RON petrol, 773,000 tonnes of 0.1 per cent gasoil and 292,000 tonnes of kerosene for delivery over January to June. \"The thing with Iraq is they never actually take as much as they contract for. Their terminal capacity is limited,\" a Gulf-based middle distillates trader said. Years of war, militant attacks, and under-investment have forced Iraq to rely on imports for its fuel needs, making it one of the biggest buyers of petrol and gas oil in the region. But due to the limited capacity of the Khor Al Zubair terminal, the war-torn country ends up buying much less than its contracted volumes, traders say. First half In November last year, Somo had clinched a deal to buy 600,000 tonnes of gasoil and petrol for delivery in the first half of 2012. Somo has a separate outstanding tender to buy 3,400 tonnes of gasoil a day for one year to use in power generation.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today somo signs deal to buy 15m tonnes of fuel Arab Today, arab today somo signs deal to buy 15m tonnes of fuel

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today somo signs deal to buy 15m tonnes of fuel Arab Today, arab today somo signs deal to buy 15m tonnes of fuel

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 04:23 2017 Tuesday ,20 June

Oil prices flat after weeks of steep declines

GMT 06:08 2017 Sunday ,18 June

Lower oil prices set to test US shale driller

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday