VOL. XLII

No. 34

23-August-1999

IRAQ

SOMO Raises Price Formulas For September

Iraq痴 State Oil Marketing Organization (SOMO) has raisedthe September prices of its export crudes across the board, increasing theformula to the US by 50 cents/B, to Europe by 30 cents/B and to the Far East by20 cents/B. SOMO痴 increases are somewhat higher than those of Saudi Aramco forSeptember Arab Light which was increased by 40 cents/B to the US, 25 cents/B toEurope and 10 cents/B to the Far East. According to a...