VOL. XL

No. 29

21 July 1997

ALGERIA

Algeria Raises August Price Formula

MEES understands that Sonatrach has raised its contract price for Saharan Blendby 13-14 cents/B to Dated Brent plus 53 cents/B for August as compared with plus 39-40cents/B for July. The following table shows the adjustment factors for Algeria's SaharanBlend in relation to Dated Brent for 1997 (cents/B):

1997

Saharan

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Blend (44º)

+74-75

+78-80

+79-80

...