NO. 51


Oil Prices

Yemen's 4Q Price Formula

MEES learns that Yemen has agreed with three of its term customers for theexport of approximately 50,000 b/d Marib Light crude (40.4øAPI) for the fourthquater based on parity with Nigeria's B-B-Q, currently priced at Dated Brentplus 60-70 cents. The third quarter price formula for US destinations was DatedBrent plus 10 cents/B FOB Ras 'Isa, and for Europe Dated Brent plus 5 cents/BFOB Ras 'Isa. The three companies that have...