VOL. XLI

No. 22

1-June-1998

SAUDI ARABIA

Shell, Texaco And Saudi Aramco Obtain Approval For Refining/Marketing Merger

Shell Oil Company, Texaco and Saudi Aramco announced on 27 May that "all approvalshad been obtained for the consummation of the joint venture combining major elements oftheir Eastern and Gulf Coast US refining and marketing businesses." Shell will have a35% interest and Texaco and Saudi Refining (a corporate affiliate of Saudi Aramco) willeach have a 32.5% stake in a new joint...