VOL. XXXVII
NO. 24
14-MARCH-1994
Iran
NIOC Agrees With Japanese Buyers On 7-Cent Price Cut For 2Q
Iran's NIOC has agreed with its Japanese term customers on a 7 cents/B cut inthe second-quarter price formulas for both Iranian Light and Iranian Heavycrudes. This move is in response to Saudi Aramco's reductions of 5 cents/B forArabian Light (comparable to Iranian Light) and 10 cents/B for Arabian Medium(comparable to Iranian Heavy) in its April price formulas for Far East crudedeliveries (MEES, 7...
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