SAUDI ARABIA

Saudi Setback Deals with Japanese Groups Close to Finalization 

Although formal signatures had not yet been completed by MEES press time, netback-priced crude supply deals between Saudi Arabia and two Japanese groups were reported to be close to finalization following the initialling of heads of agreement.

According to reports from Tokyo, Mitsubishi is signing up for 100,000 b/d of Saudi crude for delivery to Japan on a six-month contract with effect from 1 February,...