NO. 40


Saudi Arabia

Naimi on Saudi Aramco's Tanker Orders and Capacity Expansion

The President and Chief Executive Officer of the Saudi Arabian Oil Company(Saudi Aramco), Mr. Ali Naimi, has confirmed recent reports that Vela MarineInternational, Saudi Aramco's tanker arm, will shortly place orders for threeVLCC tankers, bringing the total number of vessels on order or underconstruction to 15. In an interview with OPECNA on 25 June, Mr. Naimi said thatVela, which already...