Iran Settles 1Q Prices For Japanese Buyers
Iran's NIOC has reached agreement with its crude contract customers onfirst-quarter 1994 price formulas. These provide for no change for Iranian Lighttogether with a 15-cent decrease for Iranian Heavy as compared with Decemberlevels, MEES understands. The 15-cent reduction in Iranian Heavy is in line witha similar cut in the January price formula for Arabian Medium.
Agreement on first-quarter pricing was reached on...