NO. 45



Yemen Signs Term Contracts With Chevron And Mobil For Masila Crude

MEES learns that Yemen's Ministry of Oil has decided to market its own shareof the new Masila crude, and that one-year term contracts have already beensigned with the US firms Chevron and Mobil for this purpose. CanadianOxy startedproduction of the 30.50API, 0.62% sulfur content Masila crude in early July atan initial rate of 40,000 b/d to be increased gradually to 120,000 b/d by lateSeptember....