VOL. XLIII

No. 12

20-March-2000

SAUDI ARABIA

Japans AOC Maps Out Survival Plan

Confronted by a massive cash flow shortfall following the termination of its concession rights for Saudi Arabias half-interest in the Neutral Zone oil and gas fields and a 74% drop in the value of its share price since the beginning of this year, Japans Arabian Oil Company (AOC) is embarking on an extensive restructuring program in an effort to secure the companys survival against the odds. To this end, the AOC...