No. 47

19 August 1996


Nigeria Raises September Price Formulas By 5-11 Cents/B

Nigeria has increased the September price formulas for its crudes by 5-11 cents/B. Pennington was upped by 11 cents/B, Brass River and Escravos increased by 10 cents/B, and Bonny Light and Qua Iboe rose by 9 cents/B. Forcados and Bonny Medium were marked up by 6 cents/B and 5 cents/B respectively. The following table shows the adjustment factors for Nigerian crude oils in relation to Dated...