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Saudis to end Caribbean oil storage
- Saudi Arabia: Thursday, December 31 - 2009 at 09:38
Saudi Arabia plans to withdraw from a long-held lease for 5 million barrels of Caribbean oil storage on the island of St. Eustatius, Reuters has reported, citing industry sources. The lease, regularly renewed by an Aramco subsidiary since 1995, formally ends on December 31, one of the sources said. The move comes only weeks after Saudi oil minister Ali al-Naimi revealed the world's top oil exporter accepted an offer for free storage in Japan.
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StaffThursday, December 31 - 2009 at 09:38 UAE local time (GMT+4)
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