No. 8

20 November 1995


Nigeria Cuts December Price Formulas By 6-10 Cents/B

Nigeria has reduced its December price formulas for crude sales by 6-10 cents/B. Bonny Light, Qua Iboe and Brass River were cut by 10 cents/B, while Pennington and Escravos were reduced by 8 cents/B. Forcados and Bonny Medium were lowered by 6 cents/B. The following table shows the adjustment factors for Nigerian crude oils in relation to Dated Brent for 1995 ($/B):