Vol. XL

No. 2

13-January-1997

IRAQ

SOMOAdjusts Contracts To Meet UN Demands

Followingthe signature in mid-December of around 26 contracts, Iraqs SOMO has sentmessages to six customers informing them that it is obliged to reduce theirvolume by 50% for the first 90-day period but that it will roll-over their newallocation to the second 90-day period, MEES understands. The firmsinvolved are Italys Agip and Oil Energy, the US firms Chevron and Texaco,British Petroleum and Japans Mitsubishi. The volume...