We have been sourcing our fuel oil from IRAQ since 2012, and for the last 4 years we have been the sole straight-run fuel oil purchaser though an agreement with the Iraqi Oil Tanker Company, a state company operated by the Ministry of Oil.
We trade fuel oil internationally. We have traded more than 3,000,000 Metric Tons within the past 5 years.
We have different grades of fuel oil starting with very low viscosity up to high viscosity, serving all the blending and trader grades needed.
As with our other traded products, we control the complete supply chain and logistic operation. From ground trucking the product to the ports, to storage and marine transport. Our products are shipped to the main regional ports where it is sold and traded. Mostly purchased by the oil major.
Straight-run
Straight run fuel oil is the residue that comes out from the distillation column, without further processing in vaccum distillation unit or residue catalytic cracker. Therefore it is a high value commodity traded similarly to crude oil.
Fuel oil, (also known as heavy oil, marine fuel or furnace oil) is a fraction obtained from petroleum distillation, either as a distillate or a residue. Broadly speaking, fuel oil is any liquid fuel that is burned in a furnace or boiler for the generation of heat or used in an engine for the generation of power. In this sense, diesel is a type of fuel oil.
Oil has many uses; it heats homes and businesses and fuels trucks, ships and some cars. A small amount of electricity is produced by diesel, but it is more polluting and more expensive than natural gas. It is often used as a backup fuel forpeacking power plants in case the supply of natural gas is interrupted or as the main fuel for small electrical generators.
Fuel oil, also called furnace oil, fuel consisting mainly of residues from crude-oil distillation. It is used primarily for steam boilers in power plants, aboard ships, and in industrial plants. Commercial fuel oils usually are blended with other petroleum fractions to produce the desired viscosity and flash point. Flash point is usually higher than that of kerosene. The term fuel oil ordinarily does not include such fuels as kerosene.