Saudi Crude Prices for Mediterranean Deliveries
MEES understands that as of the fourth quarter 1988, European companiespurchasing Saudi crude oil for Mediterranean deliveries switched their liftingpoint from FOB Yanbu' to FOB Sidi Kerir. The Arabian light price formula forMediterranean deliveries is determined on a quarterly basis, as follows (FOBSidi Kerir): Dated Brent minus $1.40/B for the first quarter and Dated Brentminus $1.20/B for the second...
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