Word: hispanoil
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Some companies, including Spain's state-owned Hispanoil, have refused to meet the extortionate price, but others may cave in soon if supplies grow much tighter. Late last month tiny Qatar had no difficulty auctioning off 3.2 million bbl. of crude for an excessive $34.30 per bbl. to Japanese importers as well as a Lebanese company, Gatoil International, for delivery to its Swiss subsidiary...
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