European Commission Approves Saudi-Owned Preems Swedish Refinery Purchase
The European Commission on 2 December approved the purchase by Preem Petroleum of Norsk Hydros 25% stake in the Scanraff refinery (210,000 b/d capacity) at Lysekil in Sweden for around $250mn. Agreement on the sale was reached last September (MEES, 22 September). Preem is owned by Corral Petroleum, a Saudi private oil group headed by businessman Muhammad al-Amudi. Scanraff was...