VOL. XLVI
No 38
22-September-2003
SAUDI ARABIA
Norsk Hydro Sells Lysekil Refinery Stake To Preem
Norsk Hydro on 18 September sold its 25% stake in the Scanraff refinery (210,000 b/d capacity) at Lysekil in Sweden to Preem Petroleum for around $250mn. Preem is owned by Corral Petroleum, a Saudi private oil group headed by businessman Muhammad al-Amudi. Scanraff was operated as a joint venture with Norsk Hydro, with Preem owning 75%. The Saudi-owned firm will now have total ownership of the plant....
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