No. 15

13 April 1998


Iran Raises April Price Formulas By 10-15 Cents/B

Iran's NIOC has increased its May price formulas for its Japanese and other Far Easterncustomers by 10-15 cents/B. Iranian Light was raised by 15 cents/B to Oman/Dubai minus 35cents/B, while Iranian Heavy was marked up by 10 cents/B to Oman/Dubai minus $1.10/B. Thefollowing table shows the adjustment factors for Iranian Light and Iranian Heavy inrelation to the Oman/Dubai average for the first five months of...