Appeal Court orders Aramco to compensate Al-Masafi

10/11/2014 Argaam

Saudi Arabian Refineries Company (Al-Masafe) said that the Eastern Province appeal court affirmed the pervious court order issued by Jeddah administrative court ordering Aramco to pay SAR 137.1 million to Al-Masafe in a long-standing dispute between the two firms.
 

According to Argaam; The dispute dates six years back, when Jeddah Refinery, in which Al-Masafe owned 25 percent, was liquidated, and the parties failed to agree on a proper compensation.


Al-Masafe filed a lawsuit in 2008 claiming around SAR 1.2 billion, and amended the claim in 2012 to around two billion riyals.

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