Middle East Economic Survey

VOL. XLVII

No 38

20-September-2004

EGYPT

Canadas Rally Energy Agrees New Pricing For Issaran Crude

Canadas Rally Energy has agreed a new pricing system for its share of crude oil from its 85%-held Issaran field on the Gulf of Suez. Since 4 February 2002, the price received has been 80% of the Ras Gharib monthly price. Issaran oil is blended with lighter Gulf of Suez crude oils and sold internationally as the Ras Gharib blend, which over the term has averaged 82% of the...