VOL. XXXIX

No. 44

29 July 1996

IRAN

Iran Raises Price Of Heavy Crude For August

Iran's NIOC has increased the price formula for Iranian Heavy crude for August by 10 cents/B while leaving the formula for Iranian Light unchanged. Iranian Heavy for August will sell at Dubai minus 23 cents/B. Iranian Light will stay at Oman minus 12 cents/B, as it has since the start of the second quarter. Iran's pricing formulas for Japanese and other Far Eastern customers are set on a quarterly basis,...