No. 17



Nigeria Raises Price Formulas For May

Nigeria has increased most of its May price formulas.Pennington was marked up by 20 cents/B, Forcados by 17 cents/B, Escravos by 15cents/B and Brass River by 13 cents/B. Bonny Light and Qua Iboe were put up by8 cents/B. Bonny Medium was unchanged and Odudu was lowered by 2 cents/B. Thefollowing table shows the adjustment factors for Nigerian crude oils inrelation to Dated Brent for the last six months of 1998 and the...