VOL. XLI

No. 04

26 January 1998

EGYPT

Egypt Cuts February Price Formulas By 60-80 Cents/B

Egypt has reduced its price formulas for February by 60-80 cents/B. Suez Blend,Belayim, Ras Budran and Ras Gharib were marked down by 80 cents/B, while Ras al-Bihar andZeit Bay were cut by 60 cents/B. The following table shows the adjustment factors forEgyptian crudes against Dated Brent for the second half of 1997 and the first two monthsof 1998 ($/B):

1997

1998

Jul

Aug

Sep

Oct

Nov

...