VOL. XLI

No. 49

7-December-1998

IRAQ

SOMO Expedites Exports, Breaking With Past Practice

Iraq's State Oil Marketing Organization (SOMO) has lost no time inbridging the gap between the fourth and fifth oil-for-food programs, resuming exports witha delay of approximately 10 days between the two schemes. Moreover, SOMO also broke newground by signing contracts and starting exports even before UN Secretary General KofiAnnan had approved the new distribution plan. This unprecedented move is obviously...