VOL. XLV

No 38

23-September-2002

IRAQ

Iraq Drops Surcharge But ExportsStill Constrained By Retroactive Pricing

Iraqs StateOil Marketing Organization (SOMO) has removed surcharges from all sales ofexport crude under the UN oil-for-food program as of 1 September, MEES understands. The removal ofsurcharges, which emerged at the same time as Iraqsdecision to readmit UN weapons inspectors, was communicated to major Europeanoil companies on 16 September and was accompanied by an invitation for direct...