SAUDI ARABIA

Petromin Cuts LPG Contract Volumes 

Saudi Arabia's Petromin has notified its LPG customers that December deliveries of propane and butane will be cut by 30% and 10% of contracted volumes respectively, meaning an overall reduction in LPG sales of some 22%. The reduction reflects the recent fall in Saudi crude oil (and associated gas) output to below the 4.35mn b/d notional quota for Saudi Arabia under the new 16mn b/d OPEC ceiling. Petromin has also informed its...