Saudi Barter Crude Volume Reaches 670,000 b/d

The volume of Saudi crude exports moving to service barter arrangements has now reached 670,000 b/d, MEES understands. The various barter deals involved are as follows, according to MEES sources:

- 400,000, b/d to Shell and BP (300,000 b/d to Shell and 100,000 b/d to BP) in payment for Saudi Arabia's $8bn purchase of Tornado fighter-bombers and other warplanes from Britain.

- 140,000 b/d for the huge project for the...