VOL. XXXVII

NO. 42

18-JULY-1994

Saudi Arabia

Philippine Legislators Ask Court To Void Petron Sale To Saudi Aramco

In a motion submitted to the Philippine Supreme Court on 13 July, sixPhilippine legislators have asked the court to nullify the sale of 40% of PetronCorp., the refining and product marketing subsidiary of state-owned PhilippineNational Oil Company (PNOC), to Saudi Aramco. The appeal, which also asked thehigh court to delay a public share offering of an additional 20% of Petronscheduled...