22 April 1996
Nigerian Price Formulas For May
Nigeria has raised the May price formulas for its light crudes but reduced the formulas for its heavier grades. Bonny Light, Qua Iboe, Brass River and Escravos were each increased by 1 cent/B, while Pennington was marked up by 3 cents/B. Forcados and Bonny Medium, meanwhile, were both reduced by 10 cents/B. The following table shows the adjustment factors for Nigerian crude oils in relation to Dated Brent for the...