No. 04



Nigeria Raises Price Formulas For February

Nigeria has increased the price formulas for all of itscrudes for February and introduced Odudu crude to its official price list atDated Brent minus 25 cents/B. Previously, Odudu, which is produced by Elf at arate of 60,000 b/d, was valued by a combination of netback and spot trade. ForFebruary, Bonny Light, Qua Iboe, and Escravos were marked up by 20 cents/Bagainst Dated Brent, while Brass River increased by 19...