NO. 27


Saudi Arabia

Motor Oil Says Proposed Saudi Equity Participation Would Not Exceed 50%

The Greek firm Motor Oil Hellas, owned by the Vardinoyannis group, has statedthat it is negotiating the sale of up to 50% of its equity, but not more thanthat, to Saudi Aramco. Mr. Stavros Triantafylides, General Counsel for theVardinoyannis group, told Reuters last week that "negotiations arepresently underway involving Aramco's equity participation in Motor Oil for upto a...