VOL. XXXI
NO. 22
7-MARCH-1988
UAE
Otaiba Denies Offering Price Relief to Japanese Buyers
The UAE Oil Minister, Dr. Mana Saeed al-Otaiba, has categorically deniedpress reports that he had given "verbal assurances" to Japanesecompanies to the effect that they would be compensated retroactively for lossessustained as a result of the widening gap between official prices and spotmarket prices.
Dr. Otaiba told the Dubai daily Gulf News that "Abu Dhabi will not budgefrom its determination to help...
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