NO. 40

6 JULY 1992

Oil Prices

Nigeria Raises Price Formulas by 5-10 Cents/B for July

The Nigerian National Petroleum Corporation (NNPC) has raised the July priceformulas for its term customers by 5 cents/B for light crudes and 10 cents/B forheavy crudes. Bonny Light, Brass River, Qua Iboe and Pennington now stand atDated Brent plus 55 cents/B, compared to 50 cents/B in June, and Escravos atDated Brent plus 50 cents/B, compared to the previous Dated Brent plus 45cents/B. July prices for...