VOL. XL

No. 6

10-February-1997

IRAN

Iran Reduces Price Formulas Of Light And Heavy Crudes For March

Iran's NIOC has reduced the March price formulas for its Iranian Light and Iranian Heavy crudes by 15 cents/B and 10 cents/B respectively. Iranian Light will sell at Oman MPM minus 7 cents/B for March, while Iranian Heavy will sell at Dubai minus 13 cents/B. Iran's pricing formulas for Japanese and other Far Eastern customers are set on a quarterly basis, subject to monthly reopening in response...