22 July 1996
Nigeria Raises August Price Formulas
Nigeria has increased the August price formulas for its crudes by 8-22 cents/B. Brass River was raised by 8 cents/B, while Bonny Light, Qua Iboe, Pennington and Escravos were marked up by 9 cents/B. Bonny Medium and Forcados both rose by 22 cents/B. The following table shows the adjustment factors for Nigerian crude oils in relation to Dated Brent for the first eight months of 1996 ($/B):
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