VOL. XXXI

NO. 40

11-JULY-1988

SAUDI ARABIA

Petrobras Contracts for 150,000 b/d of Saudi Crude

MEES understands from market sources that Brazil's Petrobras has concluded a150,000 b/d crude supply contract with Saudi Arabia. The contract is for aperiod of two months - July-August 1988 - in the first instance, renewable onan evergreen basis. Prices are reportedly based on spot prices of a basket offive international crudes.