VOL. XXXI

NO. 3

26-OCTOBER-1987

NORTH YEMEN

Price Formula Proposed for North Yemen Crude Oil

MEES learns that North Yemen's Ministry of Oil and Minerals has sent acircular letter to some 30 major and independent oil companies worldwideproposing a draft term contract for the sale of North Yemen's crude oil andinviting the companies concerned to negotiate with the Ministry on this basis.The draft contract envisages a spot-based price formula - one-third Brent,one-third WTI and one-third Dubai - for...