Middle East Economic Survey


No 47



Sonatrach To Ship Second Cargo To South Korean Storage

Sonatrach will send by the end of November its second shipment of Saharan Blend crude to storage facilities in South Korea. Last May Sonatrach signed a heads of agreement (HOA) with Korea National Oil Corporation (KNOC) for 2mn barrels of storage space at Ulsan (MEES, 9 May). The agreement is for a renewable three-year period and storage capacity is to be increased to 6mn...