VOL. XLII

No. 17

26-April-1999

IRAQ

Iraq痴 Oil Price Formulas For May

Iraq痴 State Oil Marketing Organization (SOMO) has proposedto the UN overseers its price formula for May, which will be approved by theSanctions Committee on 26 April unless one or more of the 15 members of theSecurity Council objects. Iraq has asked the UN to approve oil sales priceincreases of 25 cents/B for Basrah Light shipments to the US and 20 cents/B forKirkuk shipments to the US and Basrah Light shipments to Asia, while...