NO. 18


Saudi Aramco

Saudi Aramco Wins Royal Clearance For Philippine Refinery Joint Venture

In a statement distributed to Saudi Arabia's official Saudi Press Agency latelast week, Oil Minister Hisham Nazer announced that Saudi Aramco had receivedroyal clearance for the purchase of a 40% stake in Petron Corp., the refiningand product marketing subsidiary of the state-owned Philippine National OilCompany (MEES, 20 December 1993). Assuming the deal is finalized - and there...