NO. 7


Japanese Partners Scrap Joint Refining Venture With Saudi Aramco

The much-vaunted project for a multi-billion dollar joint refining venturebetween a Japanese group and Saudi Arabia, which was originally mooted over twoyears ago, has now been abandoned. The initiative for the cancellation of theproject came from the Japanese partners owing to apparently irreconcilabledifferences between them. This was acknowledged in a joint statement issued on8 November by the...