VOL. XL

No. 32

11 August 1997

IRAQ

Iraqi Prices For August

The following table shows the FOB price formulas for Iraqi crudes for the month ofAugust (prices for September have not yet even been discussed between SOMO and the UN) asproposed by Iraq's SOMO, endorsed by the UN oil overseers, and approved by the UNSanctions Committee; with comparisons vis-a-vis prices last May:

May Aug
US (Price Ref. WTI, 2nd Month)
Kirkuk (Ceyhan) -3.65 -3.50
Basrah Light (al-Bakr) -4.60 -4.50
Europe...