Saudi Arabia's Samarec Is Dissolved And Merged With Saudi Aramco
In a move of momentous significance for the oil industry, the SaudiGovernment has decided that its state refining and product marketingorganization Samarec (Saudi Arabian Marketing and Refining Company) is to bedissolved. All its assets and operations are to be taken over by Saudi Aramco.
The decision was announced by the government on 14 June following a cabinetmeeting chaired by King Fahd. An official...