VOL. XLV

No 25

24-June-2002

IRAQ

Iraqi-UN Impasse Disrupts Oil Exports

Theunresolved conflict between Iraq and the UN sanctions committee over surcharges and strictretroactive pricing has continued to keep Iraqi oil exports at a minimal level,with only two liftings of BasrahLight crude and none of Kirkuk during the week of 8-14 June. Moreover, the signs from Baghdad and the UN indicate that this is going to be a protractedconflict, despite the fact that SOMO has reduced the surcharges from 30-25...