VOL. XXXII

NO. 37

19 JUNE 1989

IRAQ

Japan's Idemitsu Lifts Fao Blend Spot Cargo in July

The first shipment of Iraq's new Fao Blend crude to Japan will be lifted byIdemitsu Kosan in mid-July, MEES understands. Idemitsu, one of Japan's largestrefining and distribution companies, agreed with Iraq's SOMO last week topurchase a spot cargo of 500,000 barrels of Fao Blend (27.65 API) priced onthe basis of the same formula as that for Saudi Arabian Heavy crude oil destinedto the Far East (Oman/Dubai minus...