16 June 1997


Iran Ups July Price Formula For Heavy Crude By 10 Cents/B

Iran's NIOC has increased the July price formula for its Iranian Heavycrude by 10 cents/B, while leaving Iranian Light unchanged. Iranian Heavy will sell atDubai minus 13 cents/B during July while Iranian Light will remain at Oman minus 27cents/B. Iran's pricing formulas for Japanese and other Far Eastern customers are set on aquarterly basis, subject to monthly reopening in response to price changes in...