Iraq Awards Gasoline and Gasoil Contracts

Bloomberg reports that Iraq has awarded gasoline and gasoil supply contracts for the first half of the year.

Traders Trafigura Beheer BV, Glencore International AG, and International Petroleum Group of Kuwait won contracts to supply gasoline through June, three of the people said, asking not to be identified since the discussions are confidential.

Iraq will buy gasoline at premiums in the low- to mid-$30- a-barrel range above regional benchmarks, according to three of the people. Total SA’s trading unit won the contract for gasoil supply, two people with knowledge of the tender said.

The State Oil Marketing Organisation (SOMO) was seeking 880,000 metric tons of gasoline for delivery between Jan. 1 and June 30 and 230,000 tons of gasoil in the period, according to tenders posted on the Oil Ministry’s website in November.

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