41.   In Baghdad, the official Iraqi News Agency said the pricing formula was faxed to U.N. headquarters in New York on Tuesday.

42.   It was unclear when the sanctions committee would approve the pricing formula.

43.   Shipments are only allowed to proceed in line with contracts and a pricing formula approved in advance by the United Nations.

44.   The ERB is also set to announce the automatic pricing formula for petroleum products today.

45.   The increases are based on an automatic pricing formula adopted by the government in August in preparation for the full deregulation of the oil industry.

46.   The pricing formula is believed to be based on benchmark crudes such as Dated Brent, Dubai and West Texas Intermediate.

47.   Together with the automatic oil pricing formula, the ERB may prescribe a formula that would automatically set the margins of the refiners, marketers and dealers.

48.   According to UN diplomats the pricing formula for December is to be approved unanimously on Wednesday.

49.   Baghdad said it could start pumping oil as early as December although a pricing formula still has to be agreed.

50.   The oil pricing formula received approval after Washington dropped its resistance to Iraqi demands that the prices reflect international rates.