NO. 47

21 AUGUST 1995

Oil Prices

Nigeria Raises September Price Formulas By 5-8 Cents/B

Nigeria has raised its September price formulas for crude sales by 5-8cents/B. Bonny Light, Qua Iboe and Pennington were raised by 5 cents/B, Escravosand Bonny Medium by 6 cents/B, and Forcados and Brass River by 7 cents/B and 8cents/B respectively.

The following table shows the adjustment factors for Nigerian crude oils inrelation to Dated Brent for September and the previous eight months ($/B):