VOL. XXXVI

NO. 38

21-JUNE-1993

OIL PRICES

Yemen Cuts 3Q Crude Price Formula By 10 Cents/B

Yemen's oil marketing authorities have lowered the third quarter priceformula on Marib Light (40 API) crude to Dated Brent plus 30 cents/B, comparedto Dated Brent plus 40 cents/B during the first half of the year. The Yemeniprices are FOB Ras 'Isa and determined at five days around Bill of Lading (B/L),with payment 30 days from B/L. Liftings in the second quarter included threeJapanese firms: Showa Shell...