Saudi Arabia Refuses Price Concessions for East of Suez Deliveries 

MEES understands that, despite persistent pressure from Japanese and other customers, Saudi Arabia has definitively turned down all requests for easier price terms on liftings for East of Suez delivery.

At present Japanese groups are lifting Saudi crude under six-month term contracts at price calculated on the basis of Rotterdam netbacks f.o.b Saudi Arabia plus 60 cents/B marks equalization factor for...