No. 39

24 June 1996


Egypt Cuts July Price Formulas By 45-70 Cents/B

Egypt has cut its July price formulas against Dated Brent by 45-70 cents/B. Suez Blend was marked down by 70 cents/B, Belayim fell by 67 cents/B, and Ras Budran and Ras Gharib were both cut by 65 cents/B. Ras al-Bihar and Zeit Bay fell by 45 cents/B. Since January, the Egyptian General Petroleum Corporation (EGPC) has priced all of its crudes against Dated Brent (MEES, 18 December). The following table...