VOL. XXXIV

NO. 25

25-MARCH-1991

Iran

Iran Targets One-Year Contracts for Japanese Crude Buyers; 30-Cent Rise inIranian Heavy Price Formula for 2Q

MEES understands that Japanese end-user refiners, led by Showa-Shell, havereached agreement with Iran's NIOC on second-quarter crude pricing whereby theformula for Iranian Light will remain unchanged from the first quarter whilethat for Iranian Heavy will be raised by 30 cents/B. Details of the agreed 2Qprice formulas, which will also be applied to...