No. 13

31 March 1997


Egypt Cuts April Price Formulas

Egypt has reduced the April price formulas for its crudes by5-25 cents/B. Suez Blend was reduced by 25 cents/B, while Ras al-Bihar and Zeit Bay werecut by 20 cents/B. Belayim was marked down by 10 cents/B with Ras Budran and Ras Gharibbeing cut by 5 cents/B. The following table shows the adjustment factors for Egyptiancrudes against Dated Brent for the fourth quarter of 1996 and the first four months of1997 ($/B):