NO. 47



India's IOC Signs Crude Term Contract With Yemen

The state-owned Indian Oil Corporation (IOC) has signed a term contract withthe Yemen oil marketing authorities for the lifting of 15,000 b/d of Marib crude(40 API) beginning in early September at a price of Dated Brent plus 30cents/B. The other term lifters of Marib crude are the Japanese firms Idemitsuand Cosmo at 10,000 b/d each, with the same third-quarter price of Dated Brentplus 30 cents/B. This is the...