VOL. XL No. 2126 May 1997


Nigeria Raises June Price Formulas By 25-41Cents/B

Nigeria has raised the June price formulas for all its crudes by 25-41 cents/B.Forcados and Bonny Medium were increased by 41 cents/B, Pennington by 40cents/B, Bonny Light, Qua Iboe and Escravos by 27 cents/B, and Brass River by 25cents/B. The following table shows the adjustment factors for Nigerian crudeoils in relation to Dated Brent for the fourth quarter of 1996 and the firsthalf of 1997 ($/B):