NO. 01

3 OCTOBER 1994

Oil Prices

Libyan Oil Price Formulas Raised For October

Libya has announced anincrease in all its crude oil price formulas for the month of October. Es Siderwas raised by $0.20/B, while all its other crudes were increased by $0.10/B,including the heavy offshore Bouri (26ΓΈ API) crude for which the October priceis Iranian Heavy ex-Sidi Kerir minus $0.40/B.

The following table shows the adjustment factors for Libyan crudes inrelation to Dated Brent for the last 10...