VOL. XLII

No. 20

17-May-1999

IRAN

Iran Increases June Price Formulas

Iranç—´ NIOC has increased the price formula for its IranianLight and Iran Heavy crudes for June by 10 cents/B and 20 cents/B respectively.The price for Foroozan Blend, which is set quarterly but reviewed monthly, wasalso increased by 20 cents/B. The following table shows the adjustment factorsfor Iranian crude for the first half of 1999 ($/B):

1999

Jan

Feb

Mar

Apr

May

Jun

Iranian Light

-0.25

-0.35

-0.15

 ...