VOL. XXXIII

NO. 41

16-JULY-1990

Syria

Syria Lowers 3Q Price Formula for Suwaidiyah Crude

MEES understands that Syria has lowered the third quarter price formula forheavy Suwaidiyah crude (24 API) to Dated Brent minus $5.00-5.50/B, and thatterm customers have finally indicated their acceptance despite their insistenceon a lower price (MEES, 2 July). Originally the 1990 price formula was based ona Mediterranean netback with a ceiling of Dated Brent minus $3.50/B and a floorof minus $4.25/B. However,...