Kuwait bites back
NZPA-Reuter Bahrain Kuwait has countered a refusal by big oil companies to pay it premium prices by slashing its crude oil output by 17 per cent from April 1. The Oil Minister (Sheikh Ali Khalifa al-Sabah) said yesterday that output was cut from 1.5 to 1.25 million barrels a day. In recent talks BP, the Royal Dutch/Shell group and Gulf Oil refused to pay Kuwait a premium on top of its official price of $35.50 a barrel. They were then told less oil would be available.
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Press, 14 May 1981, Page 6
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89Kuwait bites back Press, 14 May 1981, Page 6
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