NO. 5


Saudi Arabia

Saudi Aramco Cancels Ex-Samarec Contracts

The Saudi Arabian Oil Company (Saudi Aramco) has given notice that it will not renew a contract with an insurance company concluded by the Saudi Arabian Marketing and Refining Company (Samarec) before the latter's takeover by Saudi Aramco last June (MEES, 21 June). The contract, with the National Company for Cooperative Insurance provides for comprehensive insurance cover for the refineries and...