By OGJ editors
HOUSTON, Nov. 29 -- Aramco Overseas Co., Dhahran, has completed the sale of its interest in Motor Oil (Hellas) Corinth Refineries SA (MOH) to its partner, Vardinoyannis group member Motor Oil Holdings SA, Athens.
MOH operates the 100,000 b/d Aghii Theodori refinery in Greece.
In March 1996, Aramco acquired a 50% controlling interest in MOH, which was reduced by 8.1% in a 2001 initial public offering. The owners invested €350 million in an expansion program consisting of four major refinery upgrades since 1996, enabling the refinery to increase production and meet the European Union's fuel quality specifications.
