No. 63



Iran Raises Price Of Light Crude For 1Q 1997

Iran's NIOC has increased the first-quarter 1997 price formula for its Iranian Light crude but left the price formula for Iranian Heavy unchanged from its December posting. Iranian Light will sell at Oman MPM plus 8 cents/B, an increase of 5 cents/B from December. Iranian Heavy will remain at Dubai minus 3 cents/B. Iran's pricing formulas for Japanese and other Far Eastern customers are set on a quarterly...