VOL.XXXVI

NO.50

13-SEPTEMBER-1993

OilPrices

IranAnd Japanese Buyers Agree On10-Cents/BIncreaseInIranian Heavy Price For 4Q

Iran'sNIOCandJapan'sShowa-Shell haveagreed to roll

over the price formula for IranianLight andincreasethe priceformulaforIranianHeavyby10 cents/B for the

fourth quarter of this year,MEES understands.Inaccordancewiththe usual practice,the agreement will be extended to other Japanese customers.

For 4Q, therefore, the FOB price formulas for Iranian crude

deliveries to Japanese...