VOL. XXXIV

NO. 44

5-AUGUST-1991

Iran

Three Japanese Trading Houses Sign for Oil Prepayment Deals withIran

Three Japanese trading houses - Tomen, Marubeni and C. Itoh - have concludednew prepayment deals for term crude oil supplies with Iran's NIOC, MEESunderstands. The deals call for prompt advance payments of $150mn each by thethree companies, with repayments in the form of oil supplies to begin one yearfrom now, that is in July 1992. The repayment supply rate will depend on theprice levels...