NO. 37

19 JUNE 1989


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...