VOL. XXXI

NO. 22

7-MARCH-1988

NEW PRICE FORMULA BOOSTS SALES OF NEUTRAL ZONE KHAFJI CRUDE

Sales of Khafji crude from the offshore Neutral Zone, which fell to virtuallyzero during the past couple of months due to the refusal of buyers to payofficial prices, are being revitalized by the introduction of a more realisticmarket-related price formula by the field's operator, the Japanese-owned ArabianOil Company.

AOC is understood to have offered Japanese buyers a price formula for 28 API Khafji crude -...