VOL. XL

No. 15

14-April-1997

IRAQ

New Iraqi Crude Contracts

Several new term and spot contracts for Iraqi crude oil salesunder the oil-for-food program have recently been approved by the UN for lifting duringthe second 90-day period (10 March-7 June) of the program. In addition to those alreadyreported in MEES (see 24 and 31 March), the new contracts are understood to comprise thefollowing:

-Chevron (US), 350,000 barrels of Basrah Light ex-Mina al-Bakr for delivery tothe US (spot).

-Petroleus...