Egypt Adopts New Pricing Mechanism
Egypt is adopting a new mechanism for pricing its crude oil exports.Effective 1 October, Egypt's top quality Suez Blend (33 API) will be pricedagainst a basket which, according to Egyptian Oil Minister Hamdi al-Banbi,will include 60% Brent, 20% Iranian Heavy and 20% Suez Blend itself asquoted in specialized oil trade publications. The Suez Blend, whose price willmake allowances for quality and transport differentials...
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