VOL. XLIV

No. 03

15-January-2001

IRAN

NIOC Extends BWAVE Reference To Pricing For Mediterranean Market

The National Iranian Oil Company (NIOC) has extended its use of the IPEs Brent Weighted Average (BWAVE) pricing benchmark to cover deliveries of Iranian crudes to the Mediterranean market out of Kharg Island and Sidi Kerir. This follows the decision last year by NIOC to use the BWAVE datum for deliveries to Northwest Europe and South Africa for a six-month trial period beginning 1 January (MEES,...