No. 51/52

22/29 December 1997


Nigeria Raises January Price Formulas

Nigeria has raised its crude oil price formulas for January, with increases rangingbetween 2 and 10 cents/B. Escravos and Forcados were marked up by 10 cents/B, Brass Riverwent up by 9 cents/B, Bonny Light, Qua Iboe and Pennington were increased by 5 cents/B,and Bonny Medium rose by 2 cents/B. The following table shows the adjustment factors forNigerian crude oils in relation to Dated Brent for July 1997-January...