VOL. XXXIV

NO. 52

30-SEPTEMBER-1991

Oil Prices

Egypt Announces New Pricing Formula

On 23 September Egypt announced the new pricing formula for its Suez Blend(33 API), based on a basket comprising market assessments of Brent, IranianHeavy and Suez Blend itself (MEES, 23 September). The pricing formula, effective1 October, is as follows: 60% Brent minus $3.00/B, 20% Iranian Heavy minus$0.55/B, and 20% Suez Blend. Other Egyptian crudes will be linked to Suez Blendas follows: Zeit Bay and Ras al-Bihar...