OIL: New Boss at Aramco

After almost two years of delay, American oilmen sat down last week with Saudi Arabian Oil Minister Ahmed Zaki Yamani to arrange a complete Saudi buy-out of Arabian American Oil Co., the free world's largest crude producer. But they kept a tight curtain of secrecy around the five-day meeting at the plush Bay Point Yacht and Country Club, near Panama City, Fla. As most of the negotiators—including executives of Exxon, Mobil, Texaco and Standard of California, the four American partners in Aramco—made for their private jets at the conclusion of the meeting, they refused to discuss what price the...

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