SAUDI ARABIA

Petromin Urges Customers to Lift Incentive Crude 

Petromin is urging its customers to resume their liftings of "incentive" crude now that the Saudi authorities have agreed to apply netback pricing to these contracts (MEES, 24 February). Telexes recently sent by Petromin to the companies concerned call upon them to recommence liftings of their incentive crude entitlement volumes, as specified in the contracts, on netback price terms to be arranged with the...