VOL. XLVI

No 24

16-June-2003

IRAQ

SOMO Awards Contracts For Stored Crude; Regular Exports Late June At Around 850,000 B/D

Iraq on 12 June awarded contracts for 9.5mn barrels of Kirkuk and Basrah Light crude that had been stored in Ceyhan and the southern fields since early April. The contracts were conducted in an open bidding process and awarded on the basis of recommendations made to the Ministry of Oil by the State Oil Marketing Organization (SOMO). The prices quoted were higher than they would...