NO. 15


Saudi Arabia

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....