Turkey Purchases Netback Crude from Iraq 

Turkey will purchase 4mn tons (80,000 b/d) of Iraqi crude oil in 1986 on a netback basis, according to Mr. Kazim Oksay, Turkish Minister of State in a statement issued on 19 February. The new agreement replaces a fixed-priced arrangement signed between the two countries on 30 May 1984.

Earlier this month Saudi Arabia agreed in principle to provide Turkey with crude oil on a netback basis and negotiations are now underway with Iran, Libya...