NO. 7


S. Arabia/UAE/Turkey

Saudi Arabia Offers $1.1bn of Free Oil to Turkey

Turkish Foreign Ministry officials disclosed last week that Saudi Arabia hadoffered to supply Turkey with $1.1bn worth of free crude oil to help compensatefor Turkey's economic losses as a result of observing UN sanctions against Iraq.

Under an agreement concluded at the end of August, Saudi Arabia contracted tosupply Turkey with some 170,000 b/d at market prices for the remaining fourmonths of...