SAUDI ARABIA DECIDES TO ACCEPT BRAZIL CREDIT Saudi Arabia has lifted the condition it imposed on the sale of oil to Brazil and will accept Banco do Brasil's credit guarantees, state-oil company Petrobras said in a statement. Petrobras cancelled a 40 mln dlr crude oil purchase from the Saudis yesterday, after they refused to accept a letter of credit from the Bank of Brazil, demanding guarantees from leading international banks. It advised the Saudis the company would negotiate oil purchases elsewhere unless they changed their mind by Monday. The 2.2 mln barrels shipment will be made by the Saudis on March 24 as scheduled, the statement said. Under a 125,000 bpd contract signed in February the Saudis agreed to supply oil to Brazil until June.