No 47



Nigeria Reduces December Price Formulas

Nigeria has reduced most of its price formulas for Decemberby 14-22 cents/B. Forcados was marked down by 14 cents/B, Pennington by 15cents/B, and Bonny Light and Qua Iboe by 17 cents/B. Escravos was cut by 18cents/B, Odudu by 19 cents/B and Brass River by 22 cents/B. Bonny Mediumremained the same at parity with Dated Brent. The following table shows theadjustment factors for Nigerian crude oils in relation to Dated...