NO. 43


Financial andBanking News

Regional Financing

Luberef Financing Still Some Way Off, Despite Reports

Petromin Lubricating Oil Refining Company (Luberef), the joint venturebetween state-owned Petromin (70% - Petromin's share was taken over by SaudiAramco in July 1993) and Mobil (30%) is not expected to approach the market forsome time, despite reports in the Saudi press that 10 regional banks were to beasked to provide a $71mn loan. Saudi banks have not yet been...