SOMO Director General Reveals Iraq's Daily Import of Large Gasoline Volumes to Bridge Local Gap

Ali Nizar Al-Shatri, Director General of the State Organization for Marketing of Oil (SOMO), confirmed Sunday that Iraq imports 5 million liters of gasoline daily to bridge the gap between local production and consumption and meet market needs. He indicated additional gasoline imports currently originate from Jordan, Saudi Arabia, and the UAE, alongside European supplies via Syria. Concerning oil exports, Al-Shatri reported the country's export capacity for the day reached 4 million and 254 thousand barrels. He explained the ministry sells oil based on the number of tankers entering the Strait of Hormuz, prioritizing accuracy with competing buyers. Applied discounts, he clarified, depend on competition among shipping companies executing contracts during crises after negotiation, reaching $26.5 for medium oil and $28 for heavy oil.