Shell Contracts for 50,000 b/d of Basrah Light Crude from Yanbu' 

MEES learns that Iraq has concluded a contract with Shell International (SITCO) under which the latter will purchase 50,000 b/d of Basrah Light crude, to be lifted from the Yanbu' terminal on the Red Sea. Shell apparently plans to use the Iraqi crude to service markets in the Far East.

Shell's purchase of 50,000 b/d follows Iraq's conclusion of contracts for the supply to Japanese firms of a total...