NO. 37



Iran And Japanese Buyers Agree On 10-Cent Reduction In Iranian Light PriceFor 3Q

Iran's NIOC and Japan's Showa-Shell have agreed on a 10 cent/B reduction inthe price formula for Iranian Light crude for the third quarter of this year,MEES understands. In accordance with the usual practice, the same reduction willbe extended to other Japanese customers.

Thus for 3Q 1993, the fob price formulas for Iranian crude deliveries toJapanese buyers will be spot Oman minus...