KUWAIT

More Kuwait Crude Contracts Renewed

MEES learns that Shell International (SITCO) has reached agreement with the Kuwait Petroleum Corporation (KPC) for the renewal of its 70,000-90,000 b/d crude supply contract for the coming quarter.

Mitsubishi Corp. has also renewed its 30,000 b/d contract with KPC for the six-month period August 1987-January 1988.

KPC's term contracts stipulate deliveries at the official price, which currently stands at $16.67/B for Kuwait crude.