22 April 1996
Egypt Reduces May Price Formulas By 20 Cents/B
Egypt has reduced some of its May price formulas against Dated Brent by 20 cents/B relative to April. Suez Blend, Belayim, Ras Budran and Ras Gharib were lowered by 20 cents/B while Ras al-Bihar and Zeit Bay remained unchanged. The Egyptian General Petroleum Corporation (EGPC) began pricing all of its crudes against Dated Brent as of January 1996 (MEES, 18 December 1995). The following table shows the...