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Saudi Aramco - The European Market.

Saudi Aramco has not made much headway in Europe. Its first step there came on April 6, 1995, when it signed an agreement to buy a 41.9% stake in Motor Oil Hellas (MOH) of Greece, including a refinery with a capacity of 100,000 b/d, and its marketing arm Avin Oil SA, under a $430m deal with the Vardinoyannis family. But in late 2005, Saudi Aramco sold its stake in that venture, including the refinery at Corinth, to the Vardinoyannis Industrial Group (see background in down16SaudiOverseasOct15-07).

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Publication:APS Review Oil Market Trends
Date:Oct 19, 2009
Words:88
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