VOL. XXXIV

NO. 3

22-OCTOBER-1990

Iraq

Iraq Proposes New Offer to Sell Crude Oil at $21/B

Iraq, its crude oil exports halted by a UN embargo, has offered to sell oilto any country or company at $21/B with payments to be deposited at an escrowaccount not to be used until the Gulf crisis is resolved. Mr. Isam al- Chalabi,the Iraqi Oil Minister, told the Iraqi News Agency (INA) on 18 October that thedeclared price, which is in accordance with the OPEC decision taken in July,reflects Iraq's intention...