Petromin Mulls New Pricing Approach for Term Product Contracts 

Saudi Arabia's Petromin is considering a new approach with regard to the pricing of refined products under its projected term contracts, MEES understands.

Petromin's original plan was to base its pricing formula for term contract sales of refined products predominantly on netbacks from spot quotations at Rotterdam or Singapore (MEES, 9 and 16 April 1984). This was later modified to reflect a 50-50...