KUWAIT
Kuwait Concludes Netback-Priced Crude Supply with Taiwan
The Kuwait Petroleum Corporation (KPC) has concluded its first netback deal with a term customer. MEES understands that KPC's long-standing term contract with the Chinese Petroleum Company (CPC) of Taiwan has been renewed for 1986 at a volume of 60,000 b/d at netback prices. The netback formula is in line with that applied by Saudi Arabia in its recent deals with Japanese companies. The Saudi formula provides for...
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