VOL. XXXVIII

NO. 12

19-DECEMBER-1994

Iran

NIOC Increases First Quarter 1995 Prices By 5 Cents/B

Iran's NIOC and its Far East contract holders have agreed new first quarter1995 price terms. The changes, which include a 5 cents/B increase over Decemberon both of Iran's two main crude grades, are in line with the January price risefor Saudi Arabia's competing Arab Medium grade but are marginally higher forIranian Light vis-a-vis Arab Light, which was left unchanged versus December(MEES, 12 December)....