Oil Marketing Company (SOMO), one of the entities of the Ministry of Oil, hereby announces the availability of quantities of Straight Run Fuel Oil (SRFO) for export on an FOB basis from Berth (41) at Khor Al-Zubair Terminal, in accordance with the following terms and conditions: 

1. Seller:

Oil Marketing Company (SOMO).

2.Specifications:

Please find attached the approved specifications of Straight Run Fuel Oil stored in the tanks of Berth (41) at Khor Al-Zubair Terminal (11 Documents).

Any further analysis requested by the Buyer shall be at the Buyer's expense and shall not be binding upon SOMO.

3.Origin:

Straight Run Fuel Oil stored in the tanks of Berth (41) at Khor Al-Zubair Port and produced from Iraqi refineries. 

4.Destination: Free destination.

5.Loading Point: 

FOB from Berth (41) at Khor Al-Zubair terminal. All vessel nominations and loading operations shall be subject to the applicable regulations and operational requirements of Khor Al-Zubair Port.

Please be informed that the vessel size limitation at Khor Al-Zubair Port is (50,000) ±10% Metric Tons (MT), taking into consideration that the draft of the Khor Al-Zubair navigation channel ranges between 10 and 12 meters and that no onshore storage tanks are available.

6.Quantity:

Total Quantity: 127,890 ±5% Metric Tons (MT).

7.Duration of Contract:

The contract duration shall be for a maximum period of one month, extendable subject to the continuation of the current exceptional circumstances.

8.Price:

The price should be quoted in United States Dollars (USD) per Metric Ton (MT) of Straight Run Fuel Oil on an FOB basis from Berth (41) at Khor Al-Zubair Port using the following formula:

A. MOPAG ± β1 when Na content ≤ 65 ppm,

B. MOPAG ± β2 when Na content > 65 ppm.

• MOPAG is the average of monthly quotations for Fuel Oil as published in (S&P Global Platts Asia-Pacific / Arab Gulf Marketscan) under the heading (FOB Arab Gulf - HSFO 180 CST) for the scheduled month of loading.
•  β1,2 = premium or discount related to the above price formula, as stated in your bid (in USD/MT).
• Bidders should submit their bids, including premium or discount, based on both sodium contents (β1 & β2); otherwise, the bid shall not be considered.
• Seller (SOMO) reserves the right to revise the applicable premiums or discounts whenever deemed necessary in accordance with market conditions.
• The buyer shall bear all Iraqi port fees, including but not limited to charges for ship GRT, loading, berthing, and administrative fees imposed by the Ministry of Transportation/ The General Company.
  9.Payment:

A) Buyer shall cover the estimated value of the monthly contractual or shipment quantity through:

1.  Opening an irrevocable documentary letter of credit (L/C) by a bank from (outside of Iraq) accepted to CBI (as shown in Appendix No. 1), advised through the Trade Bank of Iraq (TBI) according to SOMO^’s acceptable form.

- The L/C should be confirmed by the Trade Bank of Iraq (TBI) or one of the banks acceptable to the Central Bank of Iraq CBI and be valid for at least 60 days from the date of the bill of lading.

- Documents holding (Negotiation) field (41A) should be with (Trade Bank of Iraq) TBI or any banks accepted by CBI.

- The L/C should be advised through (TBI) at least (7) seven calendar days before the laycan date.

• 2-  Or advance payment as a wire transfer from outside of Iraq to the Seller^’s account (SOMO) No. (0002-003946-002) In the TBI, Baghdad, Iraq, at least (7) seven calendar days before the laycan date.

B) Seller (SOMO) is not obliged to issue an order processing unless notified by the Bank of covering the nomination of the quantity according to clause (A) above, and Buyer shall bear all costs concerning this delay.

C)In case the product is loaded from Berth (41) at Khor Al-Zubair Port, the Buyer shall bear all loading fees and port charges levied by the relevant port authorities prevailing at the time of loading.

D) Buyer is obliged by the following conditions when his coverage of the nominated quantities under the documentary letter of credit:

1. The letter of credit must be valid for two months after the date of the bill of lading.
2. Seller (SOMO) to draw from the letter of credit for each quantity loaded by Buyer in U.S. dollars and within (30) days from B/L (B/L date is day one), against submitting to the Trade Bank of Iraq the following original shipping documents:
3. Bill of Lading                                                              2 (1 org. & 1 copy)
4. Commercial Invoice issued by SOMO.                     2 (1 org. & 1 copy)
5. Quantity and Quality Certificate issued by SOMO.  2 (1 org. & 1 copy)

E) Buyer shall bear all Bank costs and charges (including opening the letter of credit and confirmation amount and any other fees regarding L/C). 

F) If the payment is due on a Saturday or bank holiday (except on Monday), then you should make it on the last preceding banking day; if the payment is due on a Sunday, Monday, or bank holiday, then the amount is to be made on the next succeeding banking day.

G) The seller has the right to add or deduct any penalty or demurrage owed by or to the buyer within the amount of the Commercial Invoice issued by SOMO.

H) In case the buyer requires “OPEN CREDIT”, its bid will be disqualified.

10. Performance Bond:

1. The Buyer shall submit before signing the contract as a bond of good performance to the Seller a Performance Bond (Bank Guarantee) in USD equivalent to (5%) of the estimated value of the total contractual quantity issued from the banks licensed and accepted by the Central Bank of Iraq (except as shown in Appendix No.2) after being registered on the electronic platform of the (CBI). The said Performance Bond shall be valid for (90) days after the expiration of the contract period.
2.  Upon expiry of the contract:

- Deduction of (2%) of the performance bond amount shall be made for each (1%) less than 75%, to the limit of 25% of the contractual quantity. 

- Seller has the right to confiscate the said performance bond if the Buyer fails to load quantities equal to or less than 25% of the contractual quantity.

C. Performance bonds should be revised in case of an increase or decrease in the contractual quantity.

D. For Iraqi and foreign companies, the contract liquidation shall be made at the end of the contract period and after receipt of the certificates issued by the Department of Retirement, Social Support for Workers, and by the General Administration of Taxation, which supports the integrity of the tax position based on the instructions of tax settlement accounts no. (2) for the year 2008 for contracts between the Iraqi and foreign companies and amendment no. (1) For the year 2014, the seller is not responsible for the time the General Tax Authority and the Department of Retirement and Social Support for workers spend to complete procedures to provide the buyer clearance of responsibility.

E. The Buyer has the right to transfer the amount of the (Performance Bond) as a cash Deposit, in the Oil Marketing Company Bank Account No (0002-003946-002) when the Buyer does not obtain a Clearance Certificate from the General Administration of Taxation and the Department of Retirement and Social Support for Workers “Social Security within 90 days after the contract expiry date.

11. Standard Terms: All additional terms are governed by SOMO’s General Terms & Conditions (attached).

You are kindly requested to submit your competitive price bid in line with the current market conditions to the following email address:([email protected])

No later than 12:00 PM (Baghdad Time) on Thursday, 18^th June 2026.

Bids submitted after the above-mentioned deadline shall not be considered.