NO. 21

21 FEBRUARY 1994


Syria Raises March Price Formulas; Concludes Term Contracts For 1994

The March price formulas for both Syrian Light and Heavy crudes have beenraised. The formula for Syrian Light (36.3ø API, 0.73% sulfur) has beenincreased by 8 cents/B to Dated Brent minus 40 cents/B in March from Dated Brentminus 48 cents/B in February. The price of Syrian Heavy (24ø API, 3.8% sulfur)has been raised by 50 cents/B to Dated Brent minus $3.95/B in March from DatedBrent minus...