VOL. XXXIX No. 58 4-November-1996IRAQ

SOMO Denies Sending New Price Formula To The UN

Iraq's State Oil Marketing Organization (SOMO) has denied recent press reports that it has sent a new price formula to the UN, or that it has revised the original one that it negotiated with the UN last August. A senior SOMO official told MEES on 28 October that "we did not send a new price formula, nor have we revised our original one. As a matter of fact, we have no intention of proposing a new formula....