Crude oil sales for next June approved

SANA'A, April 11 (Saba) - The Supreme
Committee on Crude Oil Marketing approved on Sunday the crude oil sales for June,
2010, with a
total quantity of 4.6 million barrels.
The committee approved to sell 2.4 million barrels of crude oil produced in Marib
to Aden Refinery Company for the best offered price, 42 cent increase per barrel.
Moreover, the committee approved the official price of al-Masila crude produced in
Hadramout province, estimated at 2.2 million barrels, for the best offered price,
20 cent
decrease per barrel.
The supreme committee mandated the Technical Committee to study the issue of fixing
the official price of Marib crude oil for the Aden Refinery Company in the light of
the
Cabinet decision on the sale of the full quantity available from this crude oil to
the company, and suspending the decision to sell the quantity of 600 thousand
barrels in
the international market.
The supreme committee directed the technical committee to submit a proposed pricing
mechanism that will be applied to sales of Marib crude for Aden Refinery Company to
the
next meeting for discussion and deciding the necessary action.
BA