NO. 28


Oil Prices

No Agreement yet on Price of Syrian Light Crude in 2Q

MEES understands that contrary to what was reported previously (MEES, 23March), there is no agreement as yet on the second quarter price of Syrian Lightcrude for term customers. Lifters want to keep the same price formula as inthe first quarter at Es Sider minus $0.03/B FOB Tartus, whereas Sytrol wants tochange to a Brent-related formula, fearing a possible fall-out effect of UNsanctions against Libyan...