VOL. XXXII

NO. 12/13

26-DEC-1988/2 JAN1989

OIL PRICE DEVELOPMENTS

North Yemen Term Contracts Finalized

MEES learns that North Yemen has finalized the sale of its 80,000 b/d MaribLight (40.4 API) crude oil for 1989 with five American and European firms. TheGeneral Department of Crude Oil Marketing has agreed to supply the US firms Pecten and Amerada Hess with 20,000 b/d each FOB Ras 'Isa at a price of WTI minus$1.49/B, and three European firms with a total of 40,000 b/d - Agip 20,000 b/d,Shell...