VOL. XLII

No. 12

22-March-1999

IRAQ

Iraq Proposes April Price Formula

Iraq痴 State Oil Marketing Organization (SOMO) has proposedto the UN overseers its price formula for April, which will be approved by theSanctions Committee on 19 March unless one or more of the 15 members of theSecurity Council objects. The proposed SOMO prices for April are not fully inline with those announced by Saudi Aramco for Arab Light (MEES, 8March), which have in the past served as guideposts for Iraqi pricing.According...