No. 06

7 February 2000


Syria Cuts February Price Formula

Syrias state agency Sytrol has reduced the February price formula for its Syrian Light by 20 cents/B to Dated Brent minus 25 cents/B. The formula for Syrian Heavy for February has yet to be agreed by all customers, but Sytrol has proposed Dated Brent minus $2.85/B. The following table shows the adjustment factors for Syrian crude in relation to Dated Brent during the second half of 1999 and January and February 2000 ($/B):...