FINA TO TAKE U.S. DOWNSTREAM PARTNER

02/24/1992
After 3 years of negotiations, FINA Inc., Dallas, is about to wrap up a deal with Arabian Petroleum Co. in which the two would jointly own FINA's U.S. refining, marketing, and transportation assets valued at $1.3 billion. The deal hinges on the joint venture, to be called FINA U.S.A., signing a firm, long term contract to receive 75,000-100,000 b/d of crude oil from Saudi Aramco Oil Co. FINA Inc. assets involved in the deal include 3,000 retail service stations, a 150,000 b/d refinery at Port Arthur, Tex., a 60,000 b/d refinery at Big Spring, Tex., two 1.5 million bbl crude oil tankers, a 510 mile 10 in. bidirectional crude pipeline ...
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