VOL. XXXII

NO. 26

3-APRIL-1989

IRAN

Iran and Japanese Customers Agree on 40-Cent Increase on 2Q PriceFormula

Iran's NIOC and its Japanese customers have reached agreement on a40-cent/B increase in the crude price formulas applicable for the secondquarter. The agreed 2Q price formula for Iranian Light is parity with the Omanspot price (as against Oman minus 40 cents/B in 1Q), and that for Iranian Heavyis spot Dubai minus 15 cents/B (as against Dubai minus 55 cents/B in 1Q).Earlier NIOC had been...