VOL. XXXVI
NO. 12
21-DECEMBER-1992
IRAN
Iran Reduces 1Q Price Formulas
Iran's NIOC has agreed with its Japanese crude customers on price formulasfor the first quarter of 1993 involving reductions of 5 cents/B for IranianLight and 7.5 cents/B for Iranian Heavy as compared with December prices, MEESlearns. The 1Q formulas are: Iranian Light, parity with Oman spot (as againstOman plus 5 cents/B in December); Iranian Heavy, Dubai spot minus 92.5 cents/B(as against Dubai minus 85 cents/B in December).
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