No. 11

16 March 1998


Nigerian Price Formulas For April

Nigeria has raised the April crude oil price formula for its Brass River Crude by 1cent/B and left Bonny Light and Qua Iboe unchanged. The remaining crude price formulaswere reduced by 1-17 cents/B. Escravos was cut by 1 cent/B, Pennington was lowered by 5cents/B, Forcadoes was marked down by 13 cents/B and Bonny Medium was decreased by 17cents/B. The following table shows the adjustment factors for Nigerian crude oils in...