VOL. XL

No. 04

27 January 1997

OPEC

Nigeria Increases Price Formulas For February

Nigeria has increased the price formulas for allits crudes for February by 3-8 cents/B. The formulas for Bonny Light, Qua Iboe,Pennington, and Bonny Medium were raised by 3 cents/B, while those for Brass River,Escravos and Forcados were marked up by 7, 6 and 8 cents/B respectively. The followingtable shows the adjustment factors for Nigeria crude oils in relation to Dated Brent forthe second half of 1996 and the...