VOL. XL

No. 26

30 June 1997

ALGERIA

Algeria Cuts July Price Formula

MEES understands that Sonatrach has reduced its contract price for Saharan Blendto Dated Brent plus 39-40 cents/B for July as compared with plus 60-61 cents/B for June.The following table shows the adjustment factors for Algeria's Saharan Blend in relation to Dated Brent for 1997 (cents/B):

1997

Saharan

Jan

Feb

Mar

Apr

May

Jun

Jul

Blend (44º)

+74-75

+78-80

+79-80

+38-42

+46-47

+60-61

+39-40