VOL. XLNo. 717-February-1997


SOMO Increasing Oil Sales To Meet Two Problems: Lower Prices AndRussian Underperformance

As it approaches the 9 March deadline for its first 90-day period, Iraq'sSOMO is confronted with two problems in its endeavour to meet the $1bnceiling stipulated in Security Council resolution 986. The first is theapproximately 14% fall in oil prices since the signature of the contractsin mid-December. The second is the fact that Russian firms, which wereawarded around...