VOL. XXXIX

No. 32

5-May-1996

SAUDI ARABIA

Western Customers Envisage Volume Cuts In Saudi LPG Term Contract Negotiations

Saudi Aramco's decision to drop its May LPG contract prices by a relatively steep $8-17/ton failed to avert a revolt among a group of major oil company buyers who over the last few weeks have threatened to phase down or cancel altogether their Saudi term contracts. The rebellious contract holders - the list includes Texaco, British Petroleum, Shell and Mobil - are...