Middle East Economic Survey

VOL. XLVII

No 24

14-June-2004

IRAQ

SOMO Reiterates Oil Sales Policy As Reports Of Scam Oil Offers Rise

MEES learns that SOMO has reiterated its policy of only selling Basrah Light crude on term contracts at fixed monthly prices to reputable lifters and Kirkuk crude through public tenders, amid increasing reports that potential buyers have been contacted with fake offers of Iraqi barrels outside the SOMO sales structure. MEES understands that those who say they are...