VOL. XLVI

No 30

28-July-2003

IRAQ

OIL PRICES

SOMO Awards Term Contracts For Basrah Light, Sets August Prices

Iraqs State Oil Marketing Organization (SOMO) announced on 23 July that it had awarded term contracts for the period 1 August 31 December to several oil majors including BP, ChevronTexaco, ConocoPhillips and Shell following on from its 22 July announcement that it was in talks to tie up term deals for the sale of Basrah Light crude oil from the Mina al-Bakr terminal. Further term contracts...