VOL. XLII

No. 24

14-June-1999

IRAN

Iran Lowers July/3Q Price Formulas For Asian Customers

Iranç—´ NIOC has reduced the July price formulas for IranianLight and Iran Heavy crudes for its Asian customers in July by 15 cents/B and10 cents/B respectively, while the price for Foroozan Blend was also cut by 10cents/B. Iranç—´ prices for Asia are set for the quarter, but reviewed monthly.The following table shows the adjustment factors for Iranian crudes in relationto the Oman/Dubai average benchmark for...