VOL. XXXV

NO. 17

27 JANUARY 1992

Oil Prices

Nigeria Reduces Price Formulas by 5-30 Cents/B in February

The Nigerian National Petroleum Corporation (NNPC) has reduced for the secondconsecutive month the Brent-related price formulas for all its crudes. The lightcrudes of Bonny Light, Bras River, Qua Iboe and Pennington were all reduced by 5cents/B to Dated Brent plus 30 cents/B, with Escravos also reduced 5 cents/B toDated Brent plus 25 cents/B. A significant reduction of 30 cents/B was appliedto...