VOL. XLII

No. 20

17-May-1999

OPEC

Nigerian June Price Formulas

Nigeria has adjusted most of its June price formulas. BonnyLight and Qua Iboe were reduced by 2 cents/B, while Pennington and Brass Riverwere marked down by 5 cents/B and 10 cents/B respectively. Bonny Medium wasunchanged, but Forcados and Escravos were raised by 3 cents/B and Odudu was putup by 5 cents/B. The following table shows the adjustment factors for Nigeriancrude oils in relation to Dated Brent for the first half of 1999...