NO. 37



Yemen Rolls Over Price Formula for 3Q

Yemen's oil marketing authorities have maintained the third-quarter priceformula for Marib Light crude unchanged from the second and first quarters, atDated Brent plus 35 cents/B. The Yemeni prices for all destinations are FOB Ras'Isa and determined at around five days from B/L, with payments 30 days fromB/L.

MEES understands that term customers are not happy with the price formula,but it is not yet clear whether they will...