NO. 22


Financial and Banking News

Regional Finance

Saudi Aramco Renews $2Bn Revolving Finance Facility

Saudi Aramco, the state-owned company responsible for all upstream and mostdownstream oil operations, has renewed a $2bn revolving credit facility signedin March 1992. It was due to expire next month. Bankers close to the dealdescribed the renewal as a formality and noted that the company has not utilizedall of the $2bn available. The facility was arranged by J P...