Announcement of  a General Tender ( 2 ) 2014

Selling Quantities of Fuel Oil ( Bunker )


Iraqi oil tanker company – one of the  branches of the Ministry of Oil- announces the availability of quantities of fuel oil ( bunker) loaded from the refineries of midlands (Al Najaf, Al Deewaniya, Al Sumaway ) loaded to the ports of Arab gulf according to the below conditions:

Those who wish to participate, should visit the company which is in Saad square , in front of  Basra university to buy documents of the tender for  ( 500.000 ID ) (five hundred thousand )non-refundable in a closed and stamped envelope. The name and the number of the tender and the name of the company should be mentioned on the envelope in clear writing , also presenting   1 % of the value of the tender as a deposit amount in a certified cheque  addressed to Iraqi Oil Tanker Company from an approved bank in Iraq valid to 60 days ( sixty days ) from the date of  giving the tenders. The dead time for giving the tender is on  Thursday   25  /9/2014 at 11 o'clock.

 For more information , please visit our website ( )


The required documents:

1-    The company establishment certificate.

2-    The identity of commercial chamber ( excellent rank , the original identity and a copy of it, the original identity is re-given after opening the tender) .

3-    Equivalent jobs certified in official letters issued by governmental parties  for which those jobs were performed.

4-    valid clearance letter or no-objection letter issued by general commission of taxes addressed to Iraqi oil tankers company.

5-    Presenting the final account which show the profits of the last two years and the financial proficiency approved according to the valid rules and controls.

6-    Copies of the documents of the managing director ( the identity of the civil status, nationality certificate, residence identity in condition that the managing director is Iraqi ) if he is not Iraqi, he should present a copy of his passport.


1-    The available quantity for sell is around +  2000 MT cubic / day according to the following table:


Name of the refinery

The available quantity MT cubic / day











2-    The selling price of the shipments loaded to Arab Gulf should be according to the following equation:

Average of monthly plats issue ( CST 180 ) + monthly average of ( Bunker wire )  = price


The competitive difference is deducted from the selling price which is determine by the buying companies which represents the fees of the road transport by the tankers and the fees of port and the customs and the wages of the floating tank if there is any, and the wages of renting of the platform of discharging  and the other expenses of transporting the shipments from the refineries to the vessels.

3-    The marine transportation is by the vessels of  our company       ( IOTC ). If this is not possible, the wages of the marine transportation are paid to the buyer according to the competitive price, which represents a dollar for each ton, and this price is deducted from the selling price.


4-    The specifications of the  fuel oil quantities which are loaded from the mentioned refineries are as follows:


Density at ( 15.6 C0 )



Sulphur content ( PPM MAX )

55000 or 5.5 w/w


Flash point ( C0 min )



Viscosity ( CST at 50 C0  max )



Pour point ( C0 max )

+ 21


Carbon residue ( wt % max )




5-    An amount is given to the buyer company due to difference in the sulphur level in the fuel oil ( which is 3.5 weight at maximum ) one  dollar for each ton for each decimal rank and according to the following equation:


The difference in the test of the two laps ( 0.05555+5.5) 0.1215=0.67                         

The maximum ( 3.5+0.67=4.17 )

The difference in the sulphur level ( 5.5-4.17=1.33 )

Dollar the amount of the difference in the sulphur level            ( 1.33X10=13.3 decimal rank )


6-    An amount of difference of ten dollars for differences in viscosity from 180 CST to 450 CST is given according to the following equation:

Weekly average of fuel oil price 180 CST – weekly average of fuel oil 380 CST = the difference in price



The amount of the difference of two laps = the actual viscosity X 0.074

The average of weekly price of fuel oil 180 – the difference in price = the new weekly price for viscosity more than 180.


7-    The final price is determined according to the following :

The selling price which is mentioned in point (2 )deducted from it the expense of the road transport and the other expenses mentioned in the same point dedicated from it the expenses of wages of the marine transports mentioned in point (3) deducted from it the value of the difference of the sulphur level which is mentioned in point (5) deducted from it the value of the difference in viscosity as mentioned in point (6).

8-      Those who win the tender should buy the expenses of the announcement.


9-      The price should be typed in digits and written and should be clear and free from any scratch or write-off, and with any correction there must be a signature of the bidder and the stamp of the company .

10-          The validity of the presented offer is (60) days from the date of opening the offers.

11-          Our company has the right to cancel the tender without any compensation to the bidder company.

12-          The owner of the bidder company is responsible for the documents of the presented offer .

13-          All the pages of the offer should be signed and stamped by the managing director of the bidder company .

14-          The execution of the contract starts after (15) days from the date of signing the contract.

15-          The payment of the values of the shipments should be via an unconditioned latter credit (LC) or by Cash  to IOTC accounted  in the Iraqi trade mark .




General  Manager