No. 20

18 May 1998


Nigerian Price Formulas For June

Nigeria has left unchanged for June its oil price formulas for Bonny Light, Qua Iboe,and Pennington, but raised the prices for Brass River by 2 cents/B, for Bonny Medium by 8cents/B and for Forcados by 10 cents/B. The price for Escravos was cut by 2 cents/B. Thefollowing table shows the adjustment factors for Nigerian crude oils in relation to DatedBrent for the second half of 1997 and the first half of 1998 ($/B):