VOL. XLI

No. 12

23-March-1998

YEMEN

Marib Light 2Q Price Confirmed At Parity With Dated Brent

MEES confirms that the second quarter 1998 price formula for Marib Light will beparity with Dated Brent, down 10 cents/B from the first quarter price formula. Productionof Marib Light is now between 135,000-140,000 b/d. Export volumes of Marib Light amount toonly 20,000 b/d with 5,000 b/d purchased by Arcadia (the European arm of Mitsui) and 5,000b/d by the Emirates National Oil Company (ENOC). The...