MOBIL BRACES FOR 'ARAMCO ADVANTAGE' TAX HIT

Mobil Oil Corp. says the U.S. Internal Revenue Service intends to tax it on $2 billion of income it didn't receive in 1979-81. To restrain world crude prices after the Iranian revolution, the Saudi Arabian government required Mobil, as one of four partners in what was then Arabian American Oil Co., to sell its crude for less than market price. IRS said Mobil should be taxed for the value of crude between the price it received and the market price it could have charged-the so-called Aramco