VOL. XLIV

No 41

8-October-2001

IRAQ

Security Council ApprovesPiecemeal Price Arrangements For Iraqi Oil

The Security Council remains splitfor the third consecutive month over the mechanism for Iraqi oil priceformulas, with no uniform agreement on October formulas or how Iraqs State OilMarketing Organization (SOMO) should propose its prices, whether on a weekly,bi-weekly or monthly basis. The only agreement reached so far is that theSecurity Council should ask the overseers to prepare a weekly...