VOL. XXXVII

NO. 51

19-SEPTEMBER-1994

IRAN

NIOC Drops 4Q Price For Iran Heavy, Upward Adjustment For Light

Iran's NIOC has dropped its Far East contract prices for fourth quarterliftings of its Iran Heavy grade by 50 cents/B from its September formula, whileincreasing that for Iran Light by 10 cents/B. This is in line with October pricechanges for Saudi Arabia's competing Arab Medium and Arab Light grades (MEES, 12Sept). Iran's pricing formulas for Japanese/Far East customers are set on aquarterly...