SAUDI ARABIA

Chiyoda Wins Letter of Intent for New Petrolube Plant 

The Petromin Lubricating Oil Company (Petrolube) - owned 71% by Petromin and 29% by Mobil - has awarded a letter of intent to the Chiyoda group for the construction of a $40mn joint-venture lube oil blending plant with a capacity of 1mn barrels/year. Petrolube already has blending plants in Jiddah and Riyadh which produced a total of of 1.5mn barrels in 1983-84. Last month another joint venture, the Petromin...