Japanese Buyers Fail to Renew Some Supply Contracts with Petromin

A number of Japanese buyers have failed to renew direct- deal supply contracts with Saudi Arabia's Petromin owing to dissatisfaction with Saudi term contract prices, MEES understands. The contracts, covering fairly small volumes of crude oil and natural gasoline (pentane plus), expired at the end of 1984.

The three-year direct-deal crude contracts which expired at the end of 1984 cover a total supply of...