VOL. XLIV

No. 26

25-June-2001

IRAN

Iran Introduces Freight Adjustment To Mediterranean Crude Formula

The National Iranian Oil Company (NIOC) has introduced a new freight adjustment factor for supplies of crude oil into the Mediterranean from Kharg Island, in a move to bring sales to the region in line with those to Northwest Europe. The Mediterranean freight adjustment factor will affect deliveries from 1 July, although freight adjustment for Northwest Europe has been in place since 1 January.

The...