No. 14

2 APRIL 2001


Report On BWAVE Trial To Be Submitted To NIOC Board By Mid-June

The board of the National Iranian Oil Company (NIOC) is to receive a report in late May/early June on the six-month trial of the IPEs Brent Weighted Average (BWAVE) benchmark for its western crude exports, MEES learns. NIOC began to base its crude prices for deliveries to Europe and South Africa from 1 January for the trial period, after Saudi Aramco and Kuwait Petroleum Corporation (KPC) adopted...