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....