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).
COPYRIGHT 2009 Arab Press Service
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion