Common use of FOR THE FAR EAST MARKET Clause in Contracts

FOR THE FAR EAST MARKET. Basra Light Price Ex Basra Oil Terminal is based on (Oman + Dubai) / 2 as marker crudes. The Oman and Dubai are calculated by taking the monthly arithmetic average of the means of high and low spot assessments of Oman and Dubai quotations as published in the Platts Crude Oil Marketwire during the scheduled Month of loading.  API ESCALATION / DE-ESCALATION The resulting BasraLight Price is to be reduced by Dollar ($) 0.04 for each whole one tenth of a degree API below 34.00 degree and to be increased by Dollar ($) 0.04 for each whole one tenth of a degree API above 34.00 degree.  FREIGHT ESCALATOR / DE-ESCALATOR The final price for each shipment destined to North and South America and to Europe shall be adjusted by taking the difference between A and B below:

FOR THE FAR EAST MARKET. Basra Light Price Ex Basra Oil Terminal is based on (Oman + Dubai) / 2 as marker crudes. The Oman and Dubai are calculated by taking the monthly arithmetic average of the means of high and low spot assessments of Oman and Dubai quotations as published in the Platts Crude Oil Marketwire during the scheduled Month of loading.  • API ESCALATION / DE-ESCALATION The resulting BasraLight Price is to be reduced by Dollar ($) 0.04 for each whole one tenth of a degree API below 34.00 degree and to be increased by Dollar ($) 0.04 for each whole one tenth of a degree API above 34.00 degree.  • FREIGHT ESCALATOR / DE-ESCALATOR The final price for each shipment destined to North and South America and to Europe shall be adjusted by taking the difference between A and B below: