VOL. XLII

No 45

8-November-1999

IRAN

Iran Reduces December Price Formulas For Asian Customers

Iranç—´ NIOC has reduced the December price formulas for itsAsian customers, in line with reductions made by Saudi Arabia for December.Iranian Light was cut by 20 cents/B to Oman/Dubai plus 35 cents/B, whileIranian Heavy was marked down by 10 cents/B to Oman/Dubai plus 10 cents/B, andForoozan was reduced by 10 cents/B to Oman/Dubai plus 4 cents/B. Iranç—´ pricesfor Asia are set for the quarter, but reviewed...