SAUDI ARABIA

Petromin Urges Incentive Crude Customers to Lift Entitlements Under Netback Arrangements 

Saudi Arabia's Petromin has informed its customers for "incentive" crude oil sales that the government has agreed to apply netback pricing to these sales. The companies concerned have therefore been urged to resume lifting their full contract volumes of incentive crude. Last year, owing to high Saudi official prices, the companies cut back their Siftings of incentive...