No. 07

16 February 1998


Nigerian Price Formulas For March

Nigeria has adjusted the crude oil price formulas for some of its crudes for March.Bonny Light, Qua Iboe and Pennington were unchanged, but Escravos was increased by 1cent/B, while Forcados was cut by 2 cents/B, and Brass River and Bonny Medium each dropped1 cent/B. The following table shows the adjustment factors for Nigerian crude oils inrelation to Dated Brent for the second half of 1997 and the first quarter of 1998...