VOL. XXXIII

NO. 12/13

25-DEC-1989/1 JAN1990

Iraq

Iraqi Price Formula to Japan Unchanged for 1Q

Iraq's SOMO has maintained its crude price formula for Japanese term customers for 1Q 1990 unchanged from 4Q 1989 atOman/Dubai spot average plus 3 cents/B for Basrah Light ex-Red Sea terminal.Lifting volumes by Japanese buyers are expected to remain more or less steady in1Q 1990 at around 200,000 b/d. Japanese customers for Basrah Light ex-Red Seainclude: Idemitsu, 60,000 b/d; Nippon Oil, 40,000-45,000...