No. 17



PEMEX Formula Prices For May

Mexicoç—´ PEMEX has raised several of its May price formulas,but lowered Maya to the Far East. Isthmus to the Americas was increased by 10cents/B, but Maya and Olmeca were unchanged. For Europe, Maya was marked up by20 cents/B and Isthmus by 10 cents/B. For the Far East, Maya was cut by 30cents/B and Isthmus was raised by 20 cents/B. The following table gives theadjustment factors for Mexican crudes for the January-May 1999 periods...