VOL. XLII
No. 27
5-July-1999
SAUDI ARABIA
Petron Lowers Crude Imports From Saudi Aramco
The Philippine refinery Petron announced on 1 July that ithad amended its crude oil supply contract with Saudi Aramco to allow it toreduce the volume of crude oil it imports from Saudi Arabia. The new contractallows Petron to obtain 63-90% of its crude oil requirements from Saudi Aramcofor the three years until May 2002, whereas under the terms of the old contractPetron was obliged to purchase 90% of its...
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