VOL. XXXIV

NO. 51

23-SEPTEMBER-1991

Egypt

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...