NO. 15


Kuwait Locked into Contract Negotiations with Japanese Buyers

At MEES press time, Kuwait's KPC was still locked into tough negotiationswith its Japanese customers on price terms for contract crude. Contracts forKuwait crude liftings by Japanese buyers, which account for a total of some235,000 b/d, come up for a six-monthly price review at the end of January, withprovision for termination if no agreement is reached on prices.

Reports of offers by KPC of spot...