No. 05



Iraqi Oil Exports Increase As SOMO Reduces Surcharges

Iraqi oil exports increased last week, prompting a seasoned observer to tell MEES that Basrah crude loadings are beginning to look like a real program after seven weeks of disruption. One reason behind the higher exports is the decision by the Iraqi Government to reduce the surcharge on exports it wants paid into an account outside UN control. Another is that super major international oil firms are now...