MGRM developed several novel contract programs. First, MGRM offered a “firm-fixed” program, under which the customer would agree to a fixed monthly delivery of oil products at a set price. By September of 1993, MGRM was obligated for a total of 102 million barrels under this type of contract. About 95.5 million barrels were covered by contracts running for ten years, with most of the remainder covered by contracts running for five years.2