VOL. XXXVI

NO. 25

22 MARCH 1993

IRAN

NIOC Rolls Over March Far East Prices for 2Q 1993

Iran's NIOC has reached agreement with its Japanese customers on maintainingits March crude price formulas - Iranian Light at spot Oman minus 20 cents/B andIranian Heavy at spot Dubai minus 98 cents/B - unchanged into the secondquarter. These price formulas are subject to an automatic adjustment factor (AAF),which is calculated by taking 77 cents/B (the Oman-Dubai spot differentialquoted by Platt's in February),...