No. 38

22 September 1997


Nigerian Price Formulas For October

Nigeria has increased the October price formulas for two of its crudes by 5-7 cents/B,but reduced the formulas for all others by 8-10 cents/B. Forcados and Bonny Medium weremarked up by 5 cents/B and 7 cents/B respectively, while Brass River was reduced by 8cents/B, and Bonny Light, Qua Iboe, Pennington and Escravos dropped by 10 cents/B. Thefollowing table shows the adjustment factors for Nigerian crude oils in relation...