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Iraq’s Somo Issues First Gasoil Export Tender: Argus

OIL PRODUCTS

Iraq’s state-owned Somo has issued its first gasoil export tender, likely due to added volumes from its new 140k b/d Karbala refinery, according to Argus.

  • Somo is offering 612k bbl of 500ppm gasoil over a three-month period from the date of signing the agreement. Bids are due May 26.
  • This is the first gasoil export tender from Somo: Iraq is traditionally a net importer of gasoil.
  • However, its imports fell to zero in Feb and March, compared to an average of 24.5k b/d in 2023.
  • Sources told Argus that Iraq can now export gasoil because of the newly ramped up 140k b/d Karbala refinery, which started commercial operations in April 2023.
  • Iraq has also reopened its 150k b/d North refinery, part of the 290k b/d Baiji complex. The refinery was operating at around 70k b/d in March, Argus said.
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