NO. 2



4Q Japanese Contract Liftings of Iranian Crude Total 300,000 b/d

The total volume of fourth-quarter term contract liftings of Iranian crude byJapanese customers for delivery to Japan has now been finalized at some 300,000b/d. This compares with 297,000 b/d in 3Q, 270,000 b/d in 2Q and 305,000 b/din 1Q (MEES, 31 July).

The 4Q price formula for Iranian crude remains unchanged from 3Q, at paritywith spot Oman for Iranian Light and spot Dubai minus 15 cents for...