	saudis drop condition for oil sale to brazil saudi arabia has dropped its condition that brazil secure international bank guarantees before saudia arabia would ship it oil state oil company petrobras said in a statement petrobras said the saudis will accept banco do brasil credit guarantees petrobras cancelled a mln dlr  oil purchase from the saudis yesterday after they refused to accept a letter of credit from the official bank of brazil the saudis had demanded that brazil get credit guarantees from leading international banks petrobras said the saudis had been advised that if they did not change their mind by monday petrobras would negotiate the purchase of oil with other producers the petrobras statement said the shipment of mln barrels will be made by the saudis on march as scheduled the shipment was part of a contract signed in february for the saudis to supply brazil with barrels per day until june reuter 
