VOL. XLIII

No. 02

10 January 2000

LIBYA

Libya Raises January Price Formulas; Changes Bouri Differential To Dated Brent

Libya has raised the January price formulas for all its crudes by between 10 cents/B and 20 cents/B. For the first time, it has set the price of its offshore Bouri against Dated Brent instead of Iranian Heavy (IH) ex-Sidi Kerir. A Libyan oil marketing source told MEES that the change had been made because of the lack of liquidity of IH at Sidi Kerir, with no crude being traded...