Middle East Economic Survey

VOL. XLVII

No 41

11-October-2004

IRAQ

SOMO Revises Pricing Policy To Reflect Rapid Market Developments

MEES learns that Iraqs Oil Marketing Company (SOMO) sent a letter to its customers last week informing them that it has decided to change its present policy of announcing price formulas for the month ahead to one reflecting more closely the rapid changes in the market, particularly the rising gap between sweet and sour crude prices.

The new policy will announce the price...