VOL. XXXVI

NO. 18

1-FEBRUARY-1993

YEMEN

No Change in Yemen's 1Q Price Formula; Sales Contracts for 1993

Yemen's oil marketing authorities have maintained the 1993 first quarterprice formula for term customers for Marib Light crude (40ø API, less than0.08% sulfur) unchanged from that of fourth quarter 1992 at Dated Brent plus 40cents/B. The Yemeni prices for all destinations are FOB Ras 'Isa and determinedfive days around B/L, with payments 30 days from B/L.

Current Yemeni oil production is around...