VOL. XXXVII
NO. 41
11-JULY-1994
Saudi Arabia
Saudi Aramco To Pay $30Mn More For Stake In Philippine Refinery
The Philippine National Oil Company (PNOC) has raised by $30mn the price ofthe 40% stake in its refining and product marketing subsidiary Petron Corp.which was sold by tender at $502mn to Saudi Aramco at the end of last year (MEES,20 December 1993). The increase, which will bring the total price of the staketo $532mn, reflects a revised figure for stockholders' equity in Petron, PNOCsaid....
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