<article><p><i>Adds price table.</i></p><p>Nigeria's state-owned NNPC issued its official formula prices for August, raising the prices of all the main export grades by around 10-35¢/bl relative to North Sea Dated. </p><p>The higher formula prices reflect the stronger demand for Nigerian crude in Europe, India and the US, driven by a surge in gasoline prices. </p><p>The firm set the price of Qua Iboe, Nigeria's benchmark grade, at a premium of 61¢/bl to North Sea Dated, up by 26¢/bl on the month, with Bonny Light raised by 12¢/bl to a premium of 35¢/bl, Bonga set at a 26¢/bl premium and Agbami at a discount of 84¢/bl to North Sea Dated. The Usan price was set at a discount of $1.38/bl to North Sea Dated, a hike of $1/bl.</p><p>Only around 15mn-20mn bl of Nigerian crude remains unsold, less than when last month's formula prices were issued, after Indian refiners bought most of the 12-cargo Qua Iboe programme for August, and with some rare sales to US and Canadian refiners.</p><p><table class='tbl-excel'><tr><td class='tbl-header' colspan='3'>Nigerian official crude formula prices </td><td class='tbl-header tbl-right tbl-italic'>$/bl</td></tr><tr><td class='tbl-columnheader tbl-bold tbl-left'>Grade</td><td class='tbl-columnheader tbl-bold tbl-right'>Jul</td><td class='tbl-columnheader tbl-bold tbl-right'>Aug</td><td class='tbl-columnheader tbl-bold tbl-right'>&#177;</td></tr><tr><td class='tbl-rowspace' colspan='4'></td></tr><tr><td class='tbl-subheader' colspan='4'>Premium to North Sea Dated</td></tr><tr><td class='tbl-left'>Bonny Light</td><td class='tbl-right'>0.23</td><td class='tbl-right'>0.35</td><td class='tbl-right'>0.12</td></tr><tr><td class='tbl-left'>Qua Iboe</td><td class='tbl-right'>0.35</td><td class='tbl-right'>0.61</td><td class='tbl-right'>0.26</td></tr><tr><td class='tbl-left'>Escravos</td><td class='tbl-right'>0.08</td><td class='tbl-right'>0.25</td><td class='tbl-right'>0.17</td></tr><tr><td class='tbl-left'>Brass River</td><td class='tbl-right'>-0.48</td><td class='tbl-right'>-0.35</td><td class='tbl-right'>0.13</td></tr><tr><td class='tbl-left'>Pennington</td><td class='tbl-right'>-0.18</td><td class='tbl-right'>-0.09</td><td class='tbl-right'>0.09</td></tr><tr><td class='tbl-left'>Forcados</td><td class='tbl-right'>0.44</td><td class='tbl-right'>0.55</td><td class='tbl-right'>0.11</td></tr><tr><td class='tbl-left'>Amenam</td><td class='tbl-right'>-0.73</td><td class='tbl-right'>-0.36</td><td class='tbl-right'>0.37</td></tr><tr><td class='tbl-left'>Yoho</td><td class='tbl-right'>0.97</td><td class='tbl-right'>1.45</td><td class='tbl-right'>0.48</td></tr><tr><td class='tbl-left'>EA</td><td class='tbl-right'>1.17</td><td class='tbl-right'>1.36</td><td class='tbl-right'>0.19</td></tr><tr><td class='tbl-left'>Abo</td><td class='tbl-right'>-0.03</td><td class='tbl-right'>0.34</td><td class='tbl-right'>0.37</td></tr><tr><td class='tbl-left'>Okono</td><td class='tbl-right'>0.60</td><td class='tbl-right'>1.00</td><td class='tbl-right'>0.40</td></tr><tr><td class='tbl-left'>Antan</td><td class='tbl-right'>-2.85</td><td class='tbl-right'>-3.02</td><td class='tbl-right'>-0.17</td></tr><tr><td class='tbl-left'>Okwori</td><td class='tbl-right'>0.90</td><td class='tbl-right'>1.06</td><td class='tbl-right'>0.16</td></tr><tr><td class='tbl-left'>Bonga</td><td class='tbl-right'>0.06</td><td class='tbl-right'>0.26</td><td class='tbl-right'>0.20</td></tr><tr><td class='tbl-left'>Erha</td><td class='tbl-right'>0.75</td><td class='tbl-right'>1.14</td><td class='tbl-right'>0.29</td></tr><tr><td class='tbl-left'>Agbami</td><td class='tbl-right'>-1.18</td><td class='tbl-right'>-0.84</td><td class='tbl-right'>0.34</td></tr><tr><td class='tbl-left'>Akpo</td><td class='tbl-right'>-1.41</td><td class='tbl-right'>-0.99</td><td class='tbl-right'>0.42</td></tr><tr><td class='tbl-left'>Ukpokiti</td><td class='tbl-right'>0.51</td><td class='tbl-right'>0.97</td><td class='tbl-right'>0.46</td></tr><tr><td class='tbl-left'>Obe</td><td class='tbl-right'>0.32</td><td class='tbl-right'>1.03</td><td class='tbl-right'>0.71</td></tr><tr><td class='tbl-left'>Ima</td><td class='tbl-right'>-0.45</td><td class='tbl-right'>0.26</td><td class='tbl-right'>0.71</td></tr><tr><td class='tbl-left'>Okoro</td><td class='tbl-right'>-6.82</td><td class='tbl-right'>-7.89</td><td class='tbl-right'>-1.07</td></tr><tr><td class='tbl-left'>Oyo</td><td class='tbl-right'>-1.43</td><td class='tbl-right'>-1.33</td><td class='tbl-right'>0.10</td></tr><tr><td class='tbl-left'>Okwuibome</td><td class='tbl-right'>-3.03</td><td class='tbl-right'>-3.16</td><td class='tbl-right'>-0.13</td></tr><tr><td class='tbl-left'>Ebok</td><td class='tbl-right'>-10.47</td><td class='tbl-right'>-11.30</td><td class='tbl-right'>-0.83</td></tr><tr><td class='tbl-left'>Usan</td><td class='tbl-right'>-2.37</td><td class='tbl-right'>-1.38</td><td class='tbl-right'>1.01</td></tr><tr><td class='tbl-left'>Zafiro*</td><td class='tbl-right'>-1.51</td><td class='tbl-right'>-1.44</td><td class='tbl-right'>0.07</td></tr><tr><td class='tbl-left'>Premium for deferred pricing</td><td class='tbl-right'>0.05</td><td class='tbl-right'>0.05</td><td class='tbl-right'>0.00</td></tr><tr><td class='tbl-left'>Premium for advanced pricing</td><td class='tbl-right'>0.05</td><td class='tbl-right'>0.05</td><td class='tbl-right'>0.00</td></tr><tr><td class='tbl-notes tbl-left tbl-italic' colspan='4'>*Equatorial Guinea</td></tr></table></p><p><br> Send comments to <a href="mailto:feedback@argusmedia.com" target="_parent"> feedback@argusmedia.com </a></p><p><u><a 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