KUWAIT

Kuwait Lends Crude to Ecuador

Kuwait and Ecuador have signed an agreement under which Kuwait will lend Ecuador two million barrels of crude oil to help Ecuador meet its export commitments in the wake of the earthquake which severely damaged the Oriente export pipeline in early March (MEES, 16 March). Similar oil loan agreements have been concluded with Venezuela and Nigeria. The first shipment of Kuwaiti crude is expected to take place later this month.