VOL. XLV
No 23
10 June 2002
IRAQ
Iraq Reduces Surcharge As May Exports Down To 1Mn B/D
Iraqs State Oil Marketing Organization (SOMO) informed itscustomers on 5 June that the surcharge on Iraqi crudesto all destinations has been reduced to 15 cents/B, compared to 30 cents/B tothe US and 25 cents/B to Europe and the Far East. The Iraqiauthorities were forced to take the measure following the sharp decline in thecountrys exports under the oil-for-food program. The sanctions committee,under the...
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