NOS. 13/14

26-DEC-94/2 JAN 95


Libya Modifies Bases of Price Formulas For Term Contracts

MEES is reliably informed that, as from January 1995, Libya will be modifyingthe bases of its price formulas for term crude supply contracts. At present, theformulas are calculated on the basis of the average price of the marker crude(Dated Brent or Iranian Heavy as the case may be) for a certain number of daysaround or after the bill of lading, with the actual configuration of days(generally...