VOL. XXXIII

NO. 2

16-OCTOBER-1989

Iraq

Mitsubishi Signs for 20,000 B/D Fao Blend Term Contract

Iraq's State Oil Marketing Organization (SOMO) and Japan's MitsubishiCorporation have concluded a one-year term contract, beginning this month, forthe sale of 20,000 b/d of Fao Blend. The price is equivalent to that of ArabianHeavy. The contract provides an alternative for the Japanese company to lift thecrude either from al-Bakr terminal itself or on the basis of ship-to-ship alittle bit further to the...