VOL. XLIII

No. 25

19-June-2000

IRAQ

SOMO To Continue With Dated Brent Formula To Europe

MEES learns that Iraqs State Oil Marketing Organization (SOMO) will continue pricing its Kirkuk and Basrah Light crudes to Northwest Europe on the basis of Dated Brent-related formulas and not the Brent Weighted Dated Average (BWAVE) that has been adopted by Saudi Aramco and Kuwait Petroleum Corporation (KPC). SOMO argues that since it prices its crudes in the middle to the latter part of the month, it has...