Saudi Arabia Agrees to Raise Bahrain's Share of Abu Safah Oil Output
Saudi Arabia has agreed to raise Bahrain's share of crude oil production fromthe Abu Safah oilfield to 100,000 b/d for the next two years from the presentlevel of around 70,000 b/d. This was announced on 30 December by Bahrain'sMinister of Finance and National Economy, Mr. Ibrahim 'Abd al-Karim. At currentprices, the additional 30,000 b/d of oil would be worth around $160mn annually....
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