VOL. XLII

No. 25

21-June-1999

NIGERIA

Nigeria Reduces July Price Formulas

Nigeria has reduced most of its July price formulas. BrassRiver was cut by 3 cents/B, and Bonny Light and Qua Iboe by 5 cents/B.Pennington remained unchanged. Escravos, Forcados, Odudu and Bonny Medium weremarked down by 8 cents/B, 9 cents/B, 10 cents/B and 14 cents/B respectively.The following table shows the adjustment factors for Nigerian crude oils inrelation to Dated Brent for the first seven months of 1999 ($/B):

...