No. 03

17 January 2000


Syria Raises January Price Formula For Light Crude

Syrias state agency Sytrol has increased the January price formula for its Syrian Light crude by 5 cents/B to Dated Brent minus 5 cents/B. The formula for Syrian Heavy for January has yet to be agreed by all the customers, but Sytrol has proposed Dated Brent minus $2.20/B. The following table shows the adjustment factors for Syrian crude in relation to Dated Brent during the second half of 1999 and January...